Major Changes to the OMB Circular

The U.S. Office of Management and Budget (OMB) released the new “Super Circular” in December 2013. The Super Circular consolidates and streamlines eight Federal regulations including OMB Circulars A-110, A-122 and A-133 into a single guide. The OMB’s and the Council of Financial Assistance Reform’s (COFAR) focus was to: Eliminate duplicative and conflicting guidance Focus[ … ]

Nonprofit Entities Mergers and Acquisitions Under the New Accounting Guidance

Many nonprofit entities are contemplating merging with or acquiring another organization as a response to the troubled economy of late.  Management of these nonprofits see the challenges presented to struggling organizations and consider mergers and acquisitions as a way to shore up finances, consolidate fundraising efforts and reduce administrative costs.  Mergers and acquisitions are also[ … ]