If you’re a nonprofit, be prepared for some potential major changes to the way you recognize revenue. Performing this new analysis will be crucial to understanding how to recognize revenue from your various funding sources.
Levels of Optimism: Moderate Whether nonprofit organizations are endowed or they rely on regular donors and government funding to maintain their mission, leaders in all sectors see 2019 as a year of relative stability. This is interesting given what appeared to be an uncertain stock market at the end of 2018 as well as uncertainties[ … ]
The 2018 Arizona CFO Spotlight Survey attracted respondents from a number of industries in Phoenix and Tucson. We will highlight the not-for-profit & government segment here in terms of growth, risk factors, strengths and trends. A variety of community outreach, research, academic, associations and charitable organizations responded to the CFO Spotlight Survey for the third[ … ]
Organizations, including not-for-profit entities, receiving federal awards are subject to the new Uniform Guidance. The Uniform Guidance was effective for fiscal years beginning after 12/26/14 and supersedes guidance from previous OMB circulars. Most organizations will be impacted by these changes during their 2015 or 2016 fiscal year. Changes include increasing the threshold for requiring single[ … ]
The Financial Accounting Standards Board (FASB), the organization that sets accounting standards, is in the process of evaluating the current accounting and reporting requirements for not-for-profit organizations. FASB expects to issue an exposure draft with proposed changes to the existing required presentation of net assets and cash flows and current disclosures related to liquidity and[ … ]