FASB

Setting the Record Straight – Overhead Costs Are Essential for Sustainability and Growth

By |2019-11-27T15:01:22-06:00November 21st, 2019|Assurance, Budget, FASB, Nonprofit|

Being honest and transparent about overhead costs (i.e., Management & General, Fundraising, etc.) is vital in educating stakeholders on the cost of delivering services. Many people think of overhead as a negative part of doing business, thinking it is something to be minimized in order to maximize something (such as profits or other measurables). However, [...]

Navigating Requirements for Donor-Restricted Funds

By |2018-07-12T09:09:45-05:00April 24th, 2018|Donation, FASB, Gifts, Nonprofit, Value|

Ross Van Laar, CPA and Assurance Manager at TDT, explains considerations for nonprofit organizations when accepting gifts. With more than seven years of experience, Ross specializes in audits of nonprofits, governmental entities, and employee benefit plans. Nonprofits face unique legal, ethical, and accounting challenges due to requirements for complying with donor restrictions on donations. A [...]

Why Put Off Until Tomorrow What You Can Do Today?

By |2017-07-16T15:01:25-05:00June 22nd, 2017|FASB, Government, Nonprofit|

Joseph B. Ryan, Assurance Principal with TD&T, provides some insight on how new accounting standards for nonprofit organizations can improve understanding and provide better information for stakeholders. I’m sure Benjamin Franklin was not considering accounting standards when he made this quote, but this article will address its applicability.  The Financial Accounting Standards Board (FASB) in [...]