Posts Tagged ‘Nonprofit’
Nonprofit 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 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…
Read MoreMaking an Effective Risk Assessment Plan
At a glance: Schedule a consultation with Aprio’s non-profit specialists today. The full story: The management and protection of financial resources is a crucial concern for all non-profit organizations. By undertaking an initial financial reporting risk assessment, an organization is more likely to achieve its mission and become more effective in its operations. The risks…
Read MoreProtect Your Organization with an Effective Control Environment
At a glance: The full story: All organizations need to have some type of underlying internal control framework or system of internal control. Even very small non-profit organizations with just a few employees have processes that could contain reviews and/or approvals by management before transactions are entered into and posted to the accounting records. To…
Read MoreThe Aprio Foundation Awards $67,500 to Nonprofit Organizations Named Community Impact Grantees
Firm’s charitable arm awards 12 nonprofit organizations with grants for third quarter 2022 to support impactful programs and missions ATLANTA – December 21, 2022 – Nationally ranked business advisory and CPA firm Aprio, LLP is proud to share that the firm’s charitable arm, the Aprio Foundation, has awarded 12 grants totaling $67,500 to nonprofit community partners. The…
Read More