The U.S. Department of Housing and Urban Development (HUD) sponsors a broad range of programs designed to revitalize urban neighborhoods, stimulate housing construction, encourage home ownership opportunities, and provide safe and affordable housing primarily for low-income families. HUD...
Read MoreAs a nonprofit, when your organization receives funds through grants and similar contracts, you must characterize the transaction as an exchange transaction or a contribution for financial reporting purposes. Historically, many nonprofits have found it difficult to make this determination, which...
Read MoreSchool clubs can come in various forms, such as booster, parents or sports clubs, and are generally comprised of both students and adults trying to raise funds to support a specific school function. But being in charge of or even working in the business office of a club at your local school comes...
Read MorePeople give to charitable causes that are meaningful to them and that make them feel like they are somehow making a difference. Today’s donors are savvy and often conduct due diligence, researching the credentials and spending habits of charitable organizations using websites such as Give...
Read MoreYou are likely aware of the Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers. But did you know that nonprofit organizations will be affected, too? Of the most significance to the nonprofit industry is that...
Read MoreRevenue recognition, arguably one of the most difficult areas in terms of interpreting not-for-profit accounting guidance, is about to get a major overhaul. However, much of the difficulty and judgment that currently exist aren’t going anywhere. Revenue recognition is an area that...
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