Charity Navigator Rolls Out New Encompass Rating System
By Katelyn Miller, CPA, MST, Manager, Nonprofit Tax In one of the largest updates in recent memory, Charity Navigator has rolled out the first of four significant changes to their rating system. The Encompass Rating System expands the number of charities the organization rates from 9,000 to 160,000 – the most in its history. What…
IT Security is More Critical than Ever for Nonprofits and Associations
By Melissa Musser, CPA, CITP, CISA, Principal With employees working from home, many nonprofits and associations (particularly smaller organizations) are more concerned than ever about information technology (IT) security. The issue is of even greater concern to organizations whose employees use their personal laptops and other electronic equipment to do their job remotely. With this…
Retirement Plan Options during the COVID-19 Crisis
By Jennifer McCahill, CPA, Partner Individuals and organizations are looking for ways to gain access to cash during this time of financial and economic uncertainty. As Congress and the Administration discuss additional aid packages, we are seeing changes to the traditional regulations that would allow individuals and organizations to access funds through retirement plans. There…
OMB offers Relief for Recipients of Federal Financial Assistance Directly Impacted by COVID-19
On March 19, 2020, OMB issued M-20-17 authorizing agencies to provide short-term relief for certain administrative, financial management and audit requirements under Uniform Guidance (2 CFR 200) to recipients (including sub-recipients) affected by a loss of operational capacity due to the COVID-19 crisis. M-20-17 expands the reach of a memo issued earlier this month (M-20-11)…
UG Compliance Requires Awardees Address Key Sub-Recipient Risk Areas
By Tom Netznik, CPA | Nonprofit Audit Manager Whether your organization has historically provided sub-awards to domestic or international nonprofit organizations or is new to these types of transactions, there are important steps you should take to not only ensure compliance with federal regulations, but also protect your organization from possible loss due to unallowable…
Internal Audit is a Critical Investment for Nonprofit Organizations
By Mark Tessar, CPA, CIA | Nonprofit Audit Supervisor By their nature, tax-exempt entities are under extraordinary scrutiny. With the IRS, external auditors, donors, watchdogs and stakeholders all analyzing their finances, nonprofit organizations must implement effective internal controls that decrease the likelihood of fraud, accounting mistakes or other inappropriate accounting practices that could impact the…
Manage International NGO Risk Effectively with an External Field Office Audit
By: Max Manley, CPA | Nonprofit Audit Manager International NGOs (INGOs) working overseas in the development and humanitarian response sectors face a unique set of challenges and risks from both an accounting and operational standpoint. Whether your role resides at headquarters (HQ) or in a field office, as an INGO leader your responsibilities include managing…
Fast-Track Your Compliance with the New UG Procurement Standard
The two-year deferral period for implementation of the procurement standards under Uniform Guidance (UG) is officially over. As of midnight on January 1, 2017, organizations receiving federal funds with a calendar year-end of December 31 MUST implement policies and procedures to ensure compliance with the standards effective immediately. Is your organization behind or struggling with…
Chart Your Course to Compliance Under the New Procurement Standards
Time is up for many nonprofits! The two-year deferral period for implementation of the procurement standards under Uniform Guidance (UG), Title 2, CFR 200 for non-Federal entities was officially over as of January 1, 2017. Effective immediately, federally funded organizations with a calendar year end of December 31 must implement appropriate policies and procedures to…
Understand, Assign and Update: Best Practices for Compliance Under Uniform Guidance
Uniform Guidance was implemented over two years ago, but many Federal award recipients are still challenged by compliance and struggle with the organizational changes necessary to meet the requirements. By following some simple best practices developed by organizations already successfully achieving compliance, non-Federal entities can easily implement policies and procedures to thrive under Uniform Guidance….
