For the First Time in 20 Years New FASB Standards Adopted

For the First Time in 20 Years New FASB Standards Adopted

On August 18, 2016, the Financial Accounting Standards Board (FASB) issued a new Update intended to simplify and improve how a nonprofit classifies its assets, investments, expenses, resources and cash flows. You may know FASB from your accountant or auditor – these are the standards that dictate accounting practices and therefore the way your organization tracks its financial position.

Nonprofits Could Soon Be Exempt from Donor Disclosure

Nonprofits Could Soon Be Exempt from Donor Disclosure

The House on Tuesday passed a bill that would bar the Internal Revenue Service from forcing tax-exempt nonprofit organizations to disclose the identities of their contributors to the IRS.
Source: House Passes Bill to Exempt Nonprofits From IRS Disclosure Rules - Morning Consult

Introduced in April by Rep.

Form 990 Data will be on Amazon. Yes, Amazon.

Form 990 Data will be on Amazon. Yes, Amazon.

Source article: Amazon Web Services

Machine-readable data from certain electronic 990 forms filed with the IRS from 2011 to present are available for anyone to use via Amazon S3.

Form 990 is the form used by the United States Internal Revenue Service to gather financial information about nonprofit organizations.

Don’t Lose Exempt Status; New Filing Location for Form 990-N

Don’t Lose Exempt Status; New Filing Location for Form 990-N

The Form 990-N is the e-postcard for small, tax exempt organizations and submitted annually online. Prior to February 2016, the forms were accepted through the Urban Institute web portal.

Don't lose your exempt status! Visit IRS.gov to file today. The Internal Revenue Service (IRS) will not penalize organizations for late submissions this year.

How $15 Minimum Wage Will Impact Nonprofits

How $15 Minimum Wage Will Impact Nonprofits

On March 31st, Governor Andrew Cuomo signed the $15 minimum wage plan into law which can potentially lift the earnings of an estimated 2.3 million New Yorkers. While this is a victory for the city’s low-income population, how will it affect nonprofit organizations that struggle to meet indirect and programming costs?

According to the The FY17 budget plan, the wage increase will be phased in between now and 2020 then continue to increase on an indexed schedule set by the Director of the Division of Budget and the Department of Labor.

How Can We Save The Puppies If We Can’t Keep The Lights On?

How Can We Save The Puppies If We Can’t Keep The Lights On?

New York City’s nonprofit sector accounts for more than $118 billion in annual expenditures, including $33.6 billion in payroll expenses alone. With more than 600,000 employees, nonprofit organizations account for more than 18 percent of the city’s total private workforce1 yet they're struggling to stay afloat.

Closing the $ Gap

There have been many articles and headlines in the recent weeks about the challenges nonprofit organizations are facing to meet operating costs and close the widening financial gap. According to the report by the Human Services Council entitled New York Nonprofits in the Aftermath of FEGS, one of the reasons is:
"Government contracts and philanthropic grants rarely cover operating costs and payment is often late and unpredictable, resulting in cash flow obstacles and chronic underfunding.

Pathways to Excellence: Excellence in Fundraising & Resource Development [Recap]

For more information on the Pathways to Excellence Workshops, click here.

The Nonprofit Coordinating Committee of New York has launched the revamped and streamlined application process for this year's Nonprofit Excellence Awards. NPCC offers a series of workshops available to member and nonmember nonprofit organizations to engage with and gain insight from past winners.