FINRA's BrokerCheck

Not-for-profit reporting model

 

The Financial Accounting Standards Board (FASB) issued ASU 2016-14: Presentation of Financial Statements of Not-for-Profit Entities (NFPs). This pronouncement is the first of two phases of FASB’s project to improve the not-for-profit financial statement presentation and the understandability of not-for-profit financial performance. ASU 2016-14 is the first major change to not-for-profit reporting since the mid-1990s. 

If you have any questions regarding the standard or would like assistance navigating these changes submit a request here.

 

Articles

Expense reporting changes forthcoming for nonprofit organizations

When a trust becomes irrevocable (at creation or upon a triggering event like the death of the grantor), it becomes a taxpayer. The more complex the situation — the more important it is for the trustee to employ professional tax advisors.

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Liquidity and Availabilty of Resources

When a trust becomes irrevocable (at creation or upon a triggering event like the death of the grantor), it becomes a taxpayer. The more complex the situation — the more important it is for the trustee to employ professional tax advisors.

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Net Assets and Endowment Funds

The ASU modifies current guidance, which requires three net asset classes:  unrestricted, temporarily restricted, and permanently restricted, to requiring just two net asset classes:  with donor restrictions and without donor restrictions.

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Article #4

When a trust becomes irrevocable (at creation or upon a triggering event like the death of the grantor), it becomes a taxpayer. The more complex the situation — the more important it is for the trustee to employ professional tax advisors.

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Join our webinar

The not-for-profit industry faces increased scrutiny; economic factors that impact it are seemingly in a state of constant flux; and that's just the tip of the iceberg — just some of the challenges not-for-profits face on a regular basis.

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Presenters: 

 Rehmann associate one - link to Rehmann bio

Rehmann associate one - link to Rehmann bio

Rehmann associate one - link to Rehmann bio

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