Not-for-Profit Update: November/December 2017

At Insero, we make it our business to stay abreast of the latest trends and technical updates in accounting, tax, and audit and we understand how important timely updates are to our clients. As a member of the RSM US Alliance, we also have the benefit of access to the resources and subject matter experts of RSM US LLP (formerly known as McGladrey LLP). This includes regular updates on the latest insights for not-for-profit organizations. We hope that you find these informative and useful, and invite you to reach out to us if you have any questions.

Exempt organization-specific provisions in the House Bill H.R. 1
The tax reform legislative process was formally kicked off Nov. 2, 2017, with the release of H.R. 1, the Tax Cuts and Jobs Act.
Read more

Going global: How to plan strategy and building local relationships
Nonprofit organizations can successfully expand operations around the world with strategic planning and cultivation of local relationships.
Read more

Nonprofit webcast series: Optimizing your nonprofit’s outsourcing strategy
Join us for this informative two-part webcast series as we discuss the importance of evaluating whether your outsourcing provider’s capabilities are meeting your needs and expectations.
Register now

On-demand webcast: Annual tax update for nonprofit organizations
Miss our webcast on Tuesday, Oct. 31? View the annual tax update on-demand, answer polling questions and complete the final exam to be eligible for CPE credit for this course.
View on demand now

Source: RSM US LLP
Used with permission as a member of the RSM US Alliance
http://rsmus.com/our-insights/newsletters/muse.html

Not-for-Profit Update: September/October 2017

At Insero, we make it our business to stay abreast of the latest trends and technical updates in accounting, tax, and audit and we understand how important timely updates are to our clients. As a member of the RSM US Alliance, we also have the benefit of access to the resources and subject matter experts of RSM US LLP (formerly known as McGladrey LLP). This includes regular updates on the latest insights for not-for-profit organizations. We hope that you find these informative and useful, and invite you to reach out to us if you have any questions.

What your nonprofit board members need to know about Form 990
The first in a two-part series to help board members develop a better understanding of why the IRS asks for the information contained in the Form 990.
Read more

5 things to know about managing third-party relationship risks
Enforcement is scheduled to start on May 25, 2018. What do U.S. organizations need to do now? Here are five key considerations.
Read more

Do you know how managed IT services can help overcome your challenges?
A managed IT services agreement can provide peace of mind that you are making technology decisions to align with your strategy and goals.
Read more

Source: RSM US LLP
Used with permission as a member of the RSM US Alliance
http://rsmus.com/our-insights/newsletters/muse.html

Not-for-Profit Update: July/August 2017

At Insero, we make it our business to stay abreast of the latest trends and technical updates in accounting, tax, and audit and we understand how important timely updates are to our clients. As a member of the RSM US Alliance, we also have the benefit of access to the resources and subject matter experts of RSM US LLP (formerly known as McGladrey LLP). This includes regular updates on the latest insights for not-for-profit organizations. We hope that you find these informative and useful, and invite you to reach out to us if you have any questions.

Preparing for changes in grants management processes
Join RSM on Wednesday, Aug. 23, for the annual federal grants management update webcast to learn about the latest in grants management compliance requirements.
Read more

Uniform Guidance: Procurement grace period extension
Amendment allows one additional year for non-federal entities to implement Uniform Guidance procurement standards.
Read more

Changes to revenue recognition for not-for-profit organizations
A white paper about how entities in the not-for-profit industry may be affected by the new revenue recognition guidance in ASC 606.
Read more

Ransomware: An emerging cyber risk your organization must prepare for
Discover how to protect your organization against ransomware, a growing cyber risk.
Read more

Source: RSM US LLP
Used with permission as a member of the RSM US Alliance
http://rsmus.com/our-insights/newsletters/muse.html

Not-for-Profit Update: May/June 2017

At Insero, we make it our business to stay abreast of the latest trends and technical updates in accounting, tax, and audit and we understand how important timely updates are to our clients. As a member of the RSM US Alliance, we also have the benefit of access to the resources and subject matter experts of RSM US LLP (formerly known as McGladrey LLP). This includes regular updates on the latest insights for not-for-profit organizations. We hope that you find these informative and useful, and invite you to reach out to us if you have any questions.

How nonprofits can better leverage data to drive mission impact
Nonprofits typically manage large volumes of information, but often do not leverage that data to its full potential for greater efficiency and decision-making.
Read more

Revenue Recognition Resource Center
Information about the new guidance in ASC 606
Read more

Trump administration releases tax reform proposal
On April 26, 2017, top representatives from the Trump administration announced their long-awaited proposal for tax reform.
Read more

Making the case for business process outsourcing
What trends are driving the increased focus on outsourced services today?
Read more

Source: RSM US LLP
Used with permission as a member of the RSM US Alliance
http://rsmus.com/our-insights/newsletters/muse.html

Not-for-Profit Update: March/April 2017

At Insero, we make it our business to stay abreast of the latest trends and technical updates in accounting, tax, and audit and we understand how important timely updates are to our clients. As a member of the RSM US Alliance, we also have the benefit of access to the resources and subject matter experts of RSM US LLP (formerly known as McGladrey LLP). This includes regular updates on the latest insights for not-for-profit organizations. We hope that you find these informative and useful, and invite you to reach out to us if you have any questions.

Getting ready: Revenue recognition and not-for-profit entities
It is not too early to begin anticipating and mapping out the impact on your organization of FASB Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606).
Read more

Form 990-N, 10 years later
Prior to the passage of the Pension Protection Act of 2006, small exempt organizations, other than black lung benefit trusts (Form 990-BL) or private foundations (Form 990-PF) that did not meet the $25,000 gross receipts test of the Form 990-EZ, were excused from filing with the Internal Revenue Service (IRS).
Read more

Cybersecurity for nonprofits: Understanding threats and weaknesses
Many nonprofit organizations do not consider themselves as potential targets for a cyberattack because they think they do not possess information hackers want.
Read more

Source: RSM US LLP
Used with permission as a member of the RSM US Alliance
http://rsmus.com/our-insights/newsletters/muse.html

Not-for-Profit Update: January/February 2017

At Insero, we make it our business to stay abreast of the latest trends and technical updates in accounting, tax, and audit and we understand how important timely updates are to our clients. As a member of the RSM US Alliance, we also have the benefit of access to the resources and subject matter experts of RSM US LLP (formerly known as McGladrey LLP). This includes regular updates on the latest insights for not-for-profit organizations. We hope that you find these informative and useful, and invite you to reach out to us if you have any questions.

Consolidation of for-profit limited partnership by not-for-profit entity
Understanding the latest Accounting Standards Update (ASU) 2015-02 issued by the Financial Accounting Standards Board (FASB).
Read more

Can outsourcing help your organization neutralize rising labor costs?
Outsourcing strategies and their potential to support the success of your nonprofit organization.
Read more

Leveraging the cloud to strengthen your technology platform
The cloud is one of the biggest technology enablers for nonprofits, and has become a valuable information technology tool for many organizations.
Read more

Source: RSM US LLP
Used with permission as a member of the RSM US Alliance
http://rsmus.com/our-insights/newsletters/muse.html

Not-for-Profit Update: November/December 2016

At Insero, we make it our business to stay abreast of the latest trends and technical updates in accounting, tax, and audit and we understand how important timely updates are to our clients. As a member of the RSM US Alliance, we also have the benefit of access to the resources and subject matter experts of RSM US LLP (formerly known as McGladrey LLP). This includes regular updates on the latest insights for not-for-profit organizations. We hope that you find these informative and useful, and invite you to reach out to us if you have any questions.

Gaining approval and building momentum in fundraising campaigns
Understanding the importance of capitalizing on momentum and further engaging not only donors, but also key volunteers and employees.
Read more

Federal grants management update: Understanding new guidelines
Over the last year, the federal government has implemented several significant changes to grants management regulations that are typically only seen once in a generation.
Read more

The real cost of a data breach
To successfully navigate today’s cyberthreats and effectively respond to data security events, understanding the costs associated with a data breach is critical.
Read more

Large animal shelter leverages RSM FAO resources to manage finances
Financial accounting outsourcing (FAO) helps an animal shelter increase financial efficiency and visibility to build on success and develop a vision for the future.
Read more

Source: RSM US LLP
Used with permission as a member of the RSM US Alliance
http://rsmus.com/our-insights/newsletters/muse.html

Not-for-Profit Update: September/October 2016

At Insero, we make it our business to stay abreast of the latest trends and technical updates in accounting, tax, and audit and we understand how important timely updates are to our clients. As a member of the RSM US Alliance, we also have the benefit of access to the resources and subject matter experts of RSM US LLP (formerly known as McGladrey LLP). This includes regular updates on the latest insights for not-for-profit organizations. We hope that you find these informative and useful, and invite you to reach out to us if you have any questions.

Fundraising success: Properly managing accounting, risk and technology
Fundraising campaigns are critical to the sustainability of nonprofits, and organizations must consider several key elements to help ensure campaign success.
Read more

Not-for-profits: Important changes ahead
FASB issues new financial statement presentation requirements for not-for-profits.
Read more

Modernizing the finance function in nonprofit organizations
RSM technology and management consulting specialists share insights about the transformation of the finance function from a back-office recording and reporting function to a strategic enabler and insightful advisor for achieving business goals.
Read more

Disclosure requirements for tax-exempt organizations
Important disclosure rules of which a tax-exempt organization’s management and board of directors need to be aware.
Read more

Public charity grant-making: Protecting tax-exempt status
A review is provided of the regulations and best practices for foreign operations of U.S.-based public charities.
Read more

Proposal: Consolidation of for-profit limited partnership by not-for-profit entity
To clarify, the consolidation guidance for not-for-profit entities, the FASB recently issued a proposed ASU.
Read more

Source: RSM US LLP
Used with permission as a member of the RSM US Alliance
http://rsmus.com/our-insights/newsletters/muse.html