Knowledge Sharing
By: David Schriver
The National Business Officers Association (NBOA) is an organization that exists to support the financial administration and compliance of independent schools, which includes the financial reporting, human resources and information technology departments. Each year the NBOA holds an annual meeting... Continue ReadingKnowledge Sharing
By: Kimberly Fusco
Many not-for-profit organizations will be faced with new challenges as a result of the recent changes in the tax law. In order to properly adapt fundraising and operational needs to address these new challenges, management and board members need to... Continue ReadingPress Releases, Press Room & Firm News
Baltimore, Md. – Edwin Brake, managing director of Ellin & Tucker, announced today the promotion of two professionals as part of the firm’s ongoing commitment to developing its next generation of leadership. Stephanie McGuire, CPA, has made director in the... Continue Reading
Knowledge Sharing
By: Stephanie McGuire and David Schriver
The Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-09, to align accounting standards, reduce industry specific complexities, and shift the thought process of recording revenue from a rules based process to a principles based approach. This new... Continue ReadingKnowledge Sharing, Media Coverage
By: Kimberly Fusco
We welcome you to the next edition of the 2017 Economic Industry Update initiative, brought to you by Ellin & Tucker and The Economic Alliance of Greater Baltimore. In this six-part series, featured in the Baltimore Business Journal, Ellin &... Continue ReadingKnowledge Sharing, Media Coverage
A nonprofit typically starts out working hard to support its mission with a small budget and a lean team. But as the organization grows and takes on more employees and operating costs, it can be challenging to figure out how... Continue Reading
Knowledge Sharing
Non-profit organizations often face confusion on the proper accounting treatment for revenues received in advance of costs being incurred. The FASB recently released proposed standards that will hopefully eliminate some of this uncertainty by providing a more robust framework to... Continue Reading
Knowledge Sharing
The following article is from the Maryland State Comptroller’s Website: In May 2017, the Comptroller’s Office will mail notice of the upcoming renewal period and instructions to all nonprofit organizations holding a valid Maryland sales and use tax exemption certificate with... Continue Reading
Knowledge Sharing, Media Coverage
By: Kimberly Fusco
Hey, nonprofits – get ready to make some changes in the way you prepare your financial statements. On August 18, 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-14, which changes the financial reporting model... Continue ReadingKnowledge Sharing
Recommended By: Kim Fusco BoardSource, with the help of other partners, has developed a new approach to evaluating fundraising effectiveness. This provides a new unique perspective to balancing both risk and reward in your organization’s fundraising efforts. “We seek to... Continue Reading