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Not-for-Profit Organizations Receive Reporting Guidance and Relief Amidst COVID-19

Posted 6:45 PM by
In the wake of the COVID-19 crisis, the Office of Management and Budget (OMB), Small Business Administration (SBA), and Department of Housing and Urban Development (HUD) have all provided guidance or relief to address reporting challenges and questions. The following provides a summary of recent updates for not-for-profit organizations.
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On-Demand Webinar: The State of Philanthropy: An Analysis of Giving USA Data Trends From 2019 to Today

Posted 12:45 PM by
Philanthropic giving plays a crucial role in our communities, and it is the lifeblood for many not-for-profit organizations. Having an in-depth understanding of philanthropic trends and dynamics – especially in changing times – can help not-for-profits create effective fundraising strategies and thoughtfully prepare for the future.
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On-Demand Webinar: Getting Back to Work: Considerations for Reopening Your Not-for-Profit

Posted 2:30 PM by
As not-for-profit organizations plan their return to work, they face many legal and operational considerations. What factors should be top of mind? How can organizations protect their employees’ health and well-being while effectively reopening for those they serve?
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COVID-19 Business Survival Series: “Being Philanthropic When It’s Needed Most”

Posted 7:26 PM by
COVID-19 does not discriminate, and it has impacted all sectors of the nation’s economy. But certain industries are being affected more than others, maybe none more so than not-for-profits. Why does this sector matter – especially now – and what should the business community be doing to help preserve this very important piece of Indiana’s ecosystem?
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Webinar: Getting Back to Work: Considerations for Reopening Your Not-for-Profit

Posted 6:00 PM by
As not-for-profit organizations plan their return to work, they face many legal and operational considerations. What factors should be top-of-mind? How can organizations protect their employees’ health and well-being while effectively reopening for those they serve?
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On-Demand Webinar: How Not-For-Profits Can Fundraise and Generate Program Revenue During a Crisis

Posted 9:30 PM by
Not-for-profit organizations are facing new challenges as they adapt to “the new normal,” and fundraising and generating program service revenue are at the top of the list. How are not-for-profits finding success in the midst of new dynamics?
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On-Demand Webinar: Leading a Not-For-Profit in a COVID-19 World

Posted 3:45 PM by
Not-for-profit organizations have been hit hard by the coronavirus pandemic. Facing temporary shutdowns, canceled fundraising events, and uncertainty about the future, not-for-profits have had to reimagine how they can continue to carry out their organization’s mission in the face of adversity.
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IRS Releases Proposed Regulations on UBTI Calculation for Not-for-Profit Organizations

Posted 1:00 PM by
The IRS published proposed regulations on April 23, providing guidance on the changes made to calculating unrelated business taxable income (UBTI) when Internal Revenue Code Sec. 512(a)(6) was enacted as part of the Tax Cut and Jobs Act of 2017. Under this new guidance, exempt organizations would be required to determine how many unrelated trade or business activities they have and then to separately calculate the income or loss of each activity. This raised many questions about how to determine if an exempt organization had more than one unrelated trade or business and, if so, how to calculate its taxable income and tax due.
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Small Business Administration Issues Clarification on Faith-Based Organizations’ Participation in Loan Programs

Posted 2:51 PM by
Lenders and advisors alike have questioned whether churches, faith-based organizations, or organizations with religious affiliations are qualified to participate in Small Business Administration (SBA) loan programs offered as economic relief during the coronavirus outbreak. Previous SBA documentation indicated that “religious” entities were disqualified from receiving loans from the SBA. The CARES Act, signed into law on March 27, designated that 501(c)(3) entities and 501(c)(19) entities are eligible participants in the Paycheck Protection Program, but it did not specify if the “religious” status would make faith-based organizations ineligible.
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Proposed Accounting Standards Update - In-Kind Contribution Reporting

Posted 1:45 PM by
The Financial Accounting Standards Board (FASB) has issued the Proposed Accounting Standards Update Not-for-Profit Entities (Topic 958): Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets (Exposure Draft), which would impact the presentation and disclosure of contributed nonfinancial assets, also known as gifts-in-kind (in-kind donations), if the proposed changes are finalized.
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