Posts Tagged ‘Nonprofit’
Trump Administration Orders Sweeping Pause on Federal Grants and Loans
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,…
Read MoreMaximizing Donations: How Merchant Card Services Can Drive Nonprofit Growth
At a glance The full story: Whether using a QR code to view a menu and place a takeout order, setting up subscription payments for your Netflix account, or keeping a card on file with your favorite online retailer for easy checkout, people are accustomed to having multiple digital payment options available to them based…
Read MoreNonprofit Contribution Management: Key Accounting Standards and Policies
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…
Read MoreDoes your company receive federal awards? Changes effective 10/1
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…
Read MoreThe Principles of Allowable Cost under Uniform Guidance for Your Nonprofit
At a glance The Uniform Guidance sets forth Cost Principles in 2 CFR 200 Subpart E. When you apply for federal award funding, you agree that your organization will follow these principles. Your organization must set up internal controls to ensure compliance. But what do you do when you aren’t sure if a cost is…
Read MoreKeep 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…
Read MoreDoes your company receive federal awards?
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…
Read MoreBe the Vigilant Guardian: The Monitoring Component of Internal Controls for Your Nonprofit
At a glance: Schedule a consultation with Aprio’s Information Assurance Services and Risk Management team today for help establishing a set of internal controls for your organization. The full story: This is article #3 in a series of 5 designed to help leaders establish effective internal control frameworks to protect their organizations. In a world…
Read MoreSubrecipient vs. Contractor: What’s the Difference and Why it Matters
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…
Read MoreThe 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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