business accounting nonprofit

Accounting for Shuttered Venue Operators Grants

By Tammy Ricciardella, CPA Background On Dec. 27, 2020, the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act (the Act) became law as a part of the Consolidated Appropriations Act, 2021 (CAA). The American Rescue Plan Act also provides $16 billion in grants to shuttered venues, to be administered directly by the Small…

nonprofit

5 Considerations for the Nonprofit Sector

By Divya Gadre, CPA Since navigating the headwinds of the past year, nonprofit organizations have reimagined their operations to maintain relationships with donors, volunteers and the communities they serve while discovering new means to protect mission funding. Even so, the impacts of the pandemic and calls to further social justice work won’t subside overnight, leaving…

OMB Issues the 2021 Compliance Supplement

OMB Issues the 2021 Compliance Supplement

By Tammy Ricciardella, CPA On Aug. 12, 2021, the Office of Management and Budget (OMB) issued the 2021 Compliance Supplement (Supplement). The Supplement is effective for audits of fiscal years beginning after June 30, 2020. The Supplement can be accessed on the OMB website. The Supplement is issued annually to assist auditors by providing a…

blockchain cryptocurrency

Blockchain in Privacy for Nonprofits

By Karen A. Schuler, CIPM, CIPP/E, CIPP/US, FIP, CDPSE, CFE, and Taryn Crane, PMP, FIP, CIPM, CIPP/E, CIPP/US Nonprofit organizations, including many charities, harness blockchain technology to improve sustainability, reduce cost and protect donor information. The most frequently asked questions about blockchain for nonprofits include: what is it, how does it work and why is…