posts tagged as 501(C)(6) organizations


By Tammy Ricciardella | September 24, 2020

New Accounting Standards Update On Nonprofit Gifts-in-Kind

The Financial Accounting Standards Board (FASB) has issued the anticipated Accounting Standards Update on presentation and disclosures of contributed nonfinancial assets for nonprofits. Our latest blog post details how the gifts-in-kind... read more


By Nonprofit Practice Leaders | August 28, 2020

OMB Issues the 2020 Compliance Supplement

On August 18, the Office of Management and Budget (OMB) issued the 2020 Compliance Supplement to assist auditors in performing single audits and help organizations comply with grant, contract and federal requirements. Our latest blog... read more


By Lee Klumpp | July 21, 2020

Congress Passes the Protecting Nonprofits from Catastrophic Cash Flow Strain Act to Assist Nonprofit Organizations

On July 2, 2020, the Senate unanimously passed legislation to assist nonprofits and governmental entities. The House passed the bill in a pro forma session on July 9, 2020. The bill is now headed to the president for his signature. read more


By David Clark | July 06, 2020

Higher Education and COVID-19: Tips for Navigating Federal Relief Funding

When the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on March 27, approximately $14 billion was earmarked to support post-secondary education students and institutions through the Higher Education... read more


By Nonprofit Practice Leaders | June 29, 2020

OMB Adjusts COVID-19 Single Audit Extensions

On June 18, the Office of Management and Budget (OMB) released a new memo outlining changes to previous single audit submission extensions, as well as new criteria related to emergency funds used during the coronavirus pandemic. Our... read more


By Nonprofit Practice Leaders | June 17, 2020

New Data – Nonprofits, Benchmark Against Your Peers and Push Your Mission Forward

Facing unprecedented disruptions, the world is relying on nonprofits more than ever before. Now in its fourth year, our annual Nonprofit Standards benchmarking survey arms your organization with the metrics needed to gauge how you stack... read more


By Nonprofit Practice Leaders | May 14, 2020

Nonprofit Financial Sustainability During COVID-19

While the Coronavirus Aid, Relief, and Economic Security (CARES) Act provided some financial relief for struggling nonprofits, it falls far short of fully covering their needs. Our latest blog post offers tips for sustaining nonprofit... read more


By Nonprofit Practice Leaders | May 07, 2020

What You Need to Know About FEMA Public Assistance Program Funding

As a result of the novel coronavirus (COVID-19) pandemic, many nonprofits may qualify to receive reimbursements from the Federal Emergency Management Agency (FEMA) under its Public Assistance Program. Our latest blog post has everything... read more


By Andrea Espinola Wilson | March 13, 2020

Coronavirus Strikes Nonprofits in More Ways than One

The rapid spread of COVID-19 around the world has impacted all sectors. The nonprofit industry is no exception—in fact, they face more challenges than most. Read our latest blog for more on how organizations can minimize the risks... read more


By Tammy Ricciardella | February 10, 2020

FASB Issues Proposed Standard Related to Reference Rate Reform

With LIBOR on its way out, FASB has issued a proposed Standards Update governing a wide range of necessary contract modifications triggered by reference rate reform. It’s also laid out several temporary optional practical expedients to... read more