Insights
Expenditure Responsibility and Equivalency Determination
As many in the private foundation community know, private foundations may distribute grants to organizations other than public charities ‒ […]
Notable Women in Accounting & Consulting
Congratulations to Clare Cella and Barbara Bel for being recognized in Crain’s New York Business Magazine’s 2019 listing of Notable […]
Applying FASB’s New Guidance for Contributions Received and Contributions Made
Last year the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU), Not-For-Profit Entities (Topic 958): Clarifying the Scope and Accounting Guidance for Contributions Received and Contributions Made (Subtopic 958-605)
Late Summer EBP News Bites – 2019
Are you ready to catch up on some of the recently issued guidance and initiatives provided by the Internal Revenue Service (IRS) and Department of Labor (DOL) regarding employee benefit plan matters?
Cyber Roundup – September 2019
All businesses must periodically test their policies and procedures to be proactive in ensuring that they are comprehensive and fit any changing circumstances. Your information technology (hardware, software, archives, programs, staff, etc.) is one such area that must be considered.
OMB Issues Final 2019 Compliance Supplement
In July 2019, the Office of Management and Budget (OMB) released the final 2019 Compliance Supplement. The 2019 supplement is effective for Single Audits of fiscal years beginning after June 30, 2018. It supersedes the 2018 supplement.
Program-Related Investments: An Opportunity to Leverage Philanthropic Dollars
Traditionally, private foundations have been associated with grant-making; however, foundations are also offered other alternatives to carry out their charitable mission and to meet distribution requirements.
PKF International Worldwide Tax Guide 2019/20
The latest edition of the PKF International Worldwide Tax Guide for 2019/20 is now available for download.
New IRS Form 1099-NEC, Nonemployee Compensation, for 2020 Payments
The IRS has recently released a draft of a new form, Form 1099-NEC, which will be used to report payments for Nonemployee Compensation paid in 2020.
PKF O’Connor Davies Hires Jeffrey Gittler as Partner
PKF O’Connor Davies, LLP, one of the nation’s largest accounting, tax and advisory firms, announced today that it has hired […]
Valuing Private Companies in the Cannabis Industry
Cannabis companies need to be valued for many reasons. Funds need to report the value of their investments to their limited partners.
Increased Focus on the Pell Grant and Direct Loan Program for Colleges and Universities
The U.S. Office of Budget and Management has released the 2019 Compliance Supplement, which comes with significant changes to the compliance requirements affecting colleges, universities and other higher education institutions that participate in the Student Financial Assistance programs provided by the Department of Education (DOE or Department), especially as it relates to reporting of single audit findings.