FASB NAC Meeting Highlights: What New Financial Risks and Disclosure Pressures Mean for Nonprofits

FASB NAC Meeting Highlights: What New Financial Risks and Disclosure Pressures Mean for Nonprofits

Nonprofit Update (PPC) / By

The financial reporting landscape for nonprofit organizations continues to evolve—and not without growing pressure. At its October 2025 meeting, the Financial Accounting Standards Board’s (FASB) Not-for-Profit Advisory Committee (NAC) discussed emerging risks, disclosure expectations, and accounting challenges facing the nonprofit sector. From increasing grant cancellations to expanding transparency demands and complex debt-classification issues, the meeting …

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Not-for-Profit Board Rotation: Strengthening Governance Through Term Limits and Succession Planning

Not-for-Profit Board Rotation: Strengthening Governance Through Term Limits and Succession Planning

Nonprofit Update (PPC) / By

Strong governance doesn’t stop with selecting and training nonprofit board members—it also requires knowing when and how leadership should rotate. After an organization has been operating successfully for several years, board rotation becomes a critical next step in ensuring accountability, innovation, and sustainability. Without a structured rotation plan, nonprofits risk stagnation, governance bottlenecks, and limited …

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OMB Releases Final Draft of the 2025 Compliance Supplement

OMB Releases Final Draft of the 2025 Compliance Supplement

Nonprofit Update (PPC) / By

The Office of Management and Budget (OMB) has announced a delay in releasing the final 2025 OMB Compliance Supplement, a critical resource for auditors conducting single audits. To address the delay, OMB provided the AICPA with a “final draft version” in August 2025, allowing auditors to begin planning upcoming engagements. While the official release is …

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Training Not-for-Profit Board Members for Effective Governance

Training Not-for-Profit Board Members for Effective Governance

Nonprofit Update (PPC) / By

After carefully selecting the right board members, the next critical step for every not-for-profit (NFP) organization is training. Even highly qualified professionals need orientation to fully understand their roles and responsibilities within the unique governance environment of a nonprofit. This phase transforms well-intentioned advocates into informed stewards—ready to uphold fiduciary duties, strategic oversight, and long-term …

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SSARS 27 Clarifies Financial Statement Preparation Under Consulting Engagements

SSARS 27 Clarifies Financial Statement Preparation Under Consulting Engagements

Nonprofit Update (PPC) / By

In April 2025, the Accounting and Review Services Committee (ARSC) issued SSARS No. 27, Applicability of AR-C Section 70 to Financial Statements Prepared as Part of a Consulting Services Engagement. This new standard provides long-awaited clarity for practitioners engaged in client advisory services (CAS), confirming that financial statements or prospective financial information prepared as a …

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JEFF JOHNCEO, Damn Good Hospitality Group
SDA served as a consultant for us while we were doing project management for a construction job. They have excellent business acumen, are highly professional and truly value being a partner with us. We enjoy our relationship with SDA and look forward to continued future success.
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We’ve worked with SDA for several years on various projects within our legal and finance departments. They also helped us secure a grant for our new practice facility in downtown Fort Lauderdale. SDA really is the smarter way to do business!
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Mayor Wayne MessamCity of Miramar, Florida
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