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Impact of the Wayfair Supreme Court Decision on Nonprofits January 21, 2019 by BerganKDV Team
Impact of the Wayfair Supreme Court Decision on Nonprofits
By Katherine Gauntt | January 17, 2019 Sales tax is imposed upon retail sales of tangible personal property and taxable services in 45 states and the District of Columbia. Each state determines the circumstances under which a sales tax is imposed on the purchaser. Purchases by nonprofit organizations are exempt in most of the states, […]
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Guidance Released on Taxable Income from Parking and Other Fringe Benefits January 2, 2019 by BerganKDV Team
Guidance Released on Taxable Income from Parking and Other Fringe Benefits
By Marc Berger  The bill known as the Tax Cuts and Jobs Act, enacted in December 2017, added new Section 512(a)(7) to the Internal Revenue Code (IRC).  This new section requires tax-exempt organizations to increase their unrelated business taxable income (UBTI) by the amount paid or incurred for qualified transportation fringe benefits (QTFs) provided to employees.  […]
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Funding Innovation in the Nonprofit Sector October 29, 2018 by BerganKDV Team
Funding Innovation in the Nonprofit Sector
By Andrea Wilson What is a safe and cost-effective way to transport vaccines to children in developing countries? Many life-saving vaccines and antiretrovirals need to be stored in specific temperatures and conditions difficult to accommodate during long periods in-transit. One international NGO discovered drones equipped with climate-controlled technology offered a solution. Nonprofits are problem-solvers, faced with […]
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Significant Rule Change for Certain Tax-Exempt Organizations Reporting Donor Information October 29, 2018 by BerganKDV Team
Significant Rule Change for Certain Tax-Exempt Organizations Reporting Donor Information
By Marc Berger, CPA, JD, LLM On July 16, 2018, the Internal Revenue Service (IRS) released Revenue Procedure 2018-38, modifying the information reported to the IRS by certain tax-exempt organizations on their annual Form 990 or Form 990-EZ information return. Affected organizations will no longer be required to report the names and addresses of their […]
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Identifying and Overcoming Common Nonprofit Challenges October 29, 2018 by BerganKDV Team
Identifying and Overcoming Common Nonprofit Challenges
By Laurie De Armond, CPA, and Adam Cole, CPA Nonprofit organizations are uniquely shaped by their mission, history, size, program goals and community. But leaders of these organizations—whether a CFO at a global health services charity, a CIO of an education endowment or the executive director at a museum—share a common goal of advancing their […]
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How Predictive Analytics is Transforming NPO Fundraising October 29, 2018 by BerganKDV Team
How Predictive Analytics is Transforming NPO Fundraising
By Joe Sremack, CFE, and Gurjeet Singh, MCP The art of nonprofit fundraising is quickly becoming a science. Fundraising is a vital process for the mission of many nonprofit organizations (NPOs), and the better organizations are at this process, the more effective they become in their missions. Historically, this process consisted of following standard fundraising […]
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Compensation Committee Wake-Up Call – The ‘Other Obstacle’ to Leadership Transition October 29, 2018 by BerganKDV Team
Compensation Committee Wake-Up Call – The ‘Other Obstacle’ to Leadership Transition
By Michael Conover I have previously discussed the inevitable transition of numerous baby boomers holding leadership posts in nonprofit organizations. The topic has been well-covered in a variety of publications for nearly a decade. However, I believe the seismic shift that some have predicted has failed to materialize on a scale that was predicted. I […]
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IRS Provides Guidance on New UBTI Rules October 29, 2018 by BerganKDV Team
IRS Provides Guidance on New UBTI Rules
By Marc Berger, CPA, JD, LLM On Aug. 21, 2018, the Internal Revenue Service (IRS) released Notice 2018-67 (Notice), providing tax-exempt organizations and their tax advisors some much-needed guidance with respect to new Internal Revenue Code Section 512(a)(6). This is the provision in the new Tax Cuts and Jobs Act that requires calculation of unrelated […]
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Are Grants Subject to Revenue Recognition? October 29, 2018 by BerganKDV Team
Are Grants Subject to Revenue Recognition?
By Lee Klumpp, CPA, CGMA The FASB clarifies longstanding question for nonprofits. Nonprofits received long-awaited clarification on a key accounting question from the Financial Accounting Standards Board. As discussed in the article on page 1, the FASB released a final accounting standards update (ASU), Not-for-Profit Entities (Topic 958): Clarifying the Scope and the Accounting Guidance […]
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Final ASU 2018-08 Issued on Guidance for Contributions October 29, 2018 by BerganKDV Team
Final ASU 2018-08 Issued on Guidance for Contributions
By Lee Klumpp, CPA, CGMA The Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-08, Not-for-Profit Entities (Topic 958): Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made in June 2018 to clarify the accounting guidance related to contributions made or received. This ASU applies to all entities (including […]
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