Allocating expenses by function is one of the most important estimates in nonprofit financial reporting. This article explains the requirements under FASB ASC 958, common allocation methods, general ledger considerations, and why nonprofit management should develop and document its own methodology.
Charity Navigator’s rating system now looks beyond traditional financial ratios and governance disclosures. Its expanded framework evaluates eligible nonprofits across accountability and finance, impact and measurement, leadership and planning, and culture and compensation, making cross-functional reporting more important than ever.
Forms 1099-MISC and 1099-NEC include significant changes for the 2026 tax year. The reporting threshold for many payments increases from $600 to $2,000, while new boxes address cash tips, Treasury Tipped Occupation Codes, qualified overtime compensation, and excess golden parachute payments.
The Buckeye Institute is challenging the IRS requirement that certain tax-exempt organizations disclose substantial contributors on Form 990, Schedule B. The case asks whether collecting donor names and addresses violates the First Amendment or remains a reasonable condition of federal tax-exempt status.
OMB has proposed significant revisions to Title 2 CFR, including renaming the Uniform Guidance as the Uniform Grants Regulation and updating federal financial assistance requirements. This article outlines key changes, compliance impacts, and deadlines affecting federal award recipients and auditors.
© 2023 S. Davis & Associates, P.A. | All Rights Reserved.
