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