Found 996 Results
Reply To: Passthrough funds & how to report them on 990
I’d lean towards following your consultant’s treatment, but I’d ask them to confirm the pass-through arrangement against the 990 rules. If it must be reported,…
Reply To: In-Kind Donations
That’s a great question. For in-kind donations you receive, record them at fair market value on the date they arrive. For goods, use retail or…
Reply To: Private: Budgeting for salaries and cost of living
We took a blended approach to address rising costs. We gave all staff a 5% cost-of-living increase to help with inflation. Then we added a…
Reply To: Multi year grant with a budget
Yes, that could potentially be a condition, but the wording of the grant agreement matters. Under ASC 958-605, specific requirements around qualifying expenses can create…
Reply To: 50/50 Fundraiser Ticket sales Revenue/Expense Question
I’d lean towards recording the organisation’s share as revenue and the winner’s share as a liability, rather than treating the entire pot as revenue and…
Reply To: Windfall Gifts: What’s on your Mind?
I think the biggest challenge with windfall gifts is resisting the temptation to expand too quickly. A realistic multi-year budget and strong financial planning can…
Reply To: What you need to do today in response to funding freeze threat
I agree that sharing real experiences from the nonprofit sector is valuable. This is because policymakers need to understand how these decisions affect organizations and…
Reply To: Donation for the design, construction and outfitting of a new building
I’d lean towards releasing the restriction as the qualifying construction costs are incurred, rather than waiting until the building is placed in service. The donor’s…
Reply To: What you need to do today in response to funding freeze threat
I think staying connected and informed is especially important when funding policies are changing. Nonprofits sharing their experiences with organisations like NCN can help ensure…
Reply To: Nonfinancial uses of IRS Form 990
I don’t think a 990 alone tells the whole story. It can highlight useful financial and governance information, but context matters when interpreting unusual figures.…