Trump Administration Orders Sweeping Pause on Federal Grants and Loans

January 27, 2025 Memorandum: Temporary Pause of Activities

We are closely monitoring the impact of the January 27, 2025 memorandum issued by the Executive Office of the President instructing federal agencies to “temporarily pause all activities related to obligation or disbursement of all Federal financial assistance, and other relevant activities that may be implicated by the executive orders, including, but not limited to,…

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Nonprofit Contribution Management: Key Accounting Standards and Policies

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At a Glance The Full Story Contributions are crucial to funding for nonprofits, making accurate accounting essential for transparency and compliance. This guide highlights core accounting considerations, gift acceptance policies, and recommendations for nonprofits to manage contributions effectively. Accounting Considerations The following should be performed when evaluating a contribution: Establishing a Gift Acceptance Policy A…

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Does your company receive federal awards? Changes effective 10/1

OMB revisions applied to 2 CFR 200

OMB incorporated a few minor changes, specifically, what is included as federal financial assistance under the Build America, Buy America Act (see § 184) and allocating payments for unused leave as general administrative expenses or including them in a fringe benefit rate (see paragraph (b)(3)(i) of § 200.431). OMB’s release can be found here. The Office of Management and Budget…

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Keep Your Nonprofit Organization Audit Ready!

Keep Your Nonprofit Organization Audit Ready!

At a glance: For some organizations, financial audits are an inevitable part of the accounting cycle. Still, just the mention of the word “audit” can be anxiety provoking. It doesn’t have to be that way. With a little foresight and focus throughout the year, your audit can be efficient and clean. Having a smooth and…

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Does your company receive federal awards?

OMB updates the Uniform Guidance

The Office of Management and Budget (OMB) released revisions to the Guidance for Federal Financial Assistance located in title 2 of the Code of Federal Regulations (CFR). Commonly referred to as 2 CFR. The effective date is October 1, 2024. Federal agencies may elect to apply the final guidance to Federal awards issued prior to…

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Subrecipient vs. Contractor: What’s the Difference and Why it Matters

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At a glance: Schedule a consultation with Aprio today. The full story: The distinction between subrecipients and contractors is critical because it determines whether compliance with subrecipient monitoring regulations apply (at 2 CFR 200.332 Requirements for Pass-through Entities) or procurement regulations apply (starting at 2 CFR 200.318 General Procurement Standards). The steps you must take…

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The Aprio Foundation Empowers Nonprofit Organizations Across U.S. with Community Impact Grants

The Aprio Foundation Empowers Nonprofit Organizations Across U.S. with Community Impact Grants

37 Nonprofit Organizations Awarded by the Aprio Foundation in 2023 ATLANTA – Jan. 17, 2024 – The No. 1 Fastest-Growing Accounting Firm in the U.S., Aprio, LLP, is pleased to announce the recipients of the 2023 Community Impact Grants from its charitable arm, The Aprio Foundation. Demonstrating a steadfast commitment to philanthropy, the foundation granted…

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