Nonprofit

Understanding Royalty Income and Qualified Corporate Sponsorships for Tax-Exempt Organizations

What is UBI and when is it taxable? While nonprofits are exempt from tax for activities that are in furtherance…

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Updates on Excess Tax-Exempt Organization Executive Compensation

The Tax Cuts and Jobs Act of 2017 added a 21 percent excise tax on tax-exempt organizations, including associations, that…

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Revenue Recognition for E-Learning Tools

Many nonprofits offer electronic learning tools to members and nonmembers. These can include items such as electronic textbooks, on-demand learning…

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IRS Issues Guidance on LLC Tax Exemption

The IRS released guidance on how a Limited Liability Company (LLC) can obtain tax exempt status. Notice 2021-56 states that…

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Agency Transactions

According to US GAAP, an agency transaction is a transaction in which the reporting organization acts as an agent, trustee…

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Not-For-Profit GAAP: Defining Equity Transfer and Equity Transaction

An equity transfer is a nonreciprocal transfer between related not-for-profit (NFP) organizations, where one of the not-for-profits owns the other…

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What are Donor-Imposed Restrictions?

Donors can impose two different types of stipulations on contributions provided to nonprofits, restrictions and conditions. Donor-imposed restrictions are determined…

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What are Donor-Imposed Conditions?

Donors can impose two different types of stipulations on contributions provided to nonprofits, restrictions and conditions. While donor-imposed restrictions specify…

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Nonprofit Revenue Recognition: Contribution Vs. Exchange Transaction

In order to apply the correct revenue recognition accounting, nonprofits must consider if a transaction is a contribution or an…

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Increase in Micropurchase Threshold Available Under Certain Qualifications

Under Uniform Guidance procurement guidelines, there is a concept of a micro-purchase threshold under which price analysis or comparison is…

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