Nonprofit Network Looks Ahead to 2016
Incorporating feedback from its network of state associations and 25,000 members, the National Council of Nonprofits has published a list of challenges the nonprofit industry could face in 2016. Entitled “2015-2016: The Years in PReview”, the document lists the following issues nonprofits should anticipate this year: Taxes, Fees, PILOTs Challenges to Nonprofit Property Tax Exemptions Fiscal Challenges and Budget Gimmicks Attempts to Limit Charitable Giving Incentives Nonprofit Independence Payment for Nonprofit Indirect Costs Reforming the Government-Nonprofit Contracting & Grantmaking Process Creating New Giving Incentives Stand for Your Mission through Everyday Advocacy Eradicating Ignorance Employment Policy Issues New Funding Mechanisms The. Read More.
Seven Alabama Community Colleges to Merge
Last month, the Alabama Community College System Board of Trustees (“the Board”) approved a plan to consolidate seven community colleges into two regional systems. Consolidation of the schools is intended to improve the efficiency of each college and counter the impact of declining enrollments. While the decision at the Board’s meeting was made without public opposition or discussion, local leaders and community members of the affected institutions have begun voicing their concerns. More on Alabama community college mergers can be found on the Inside Higher Ed website.
OMB Proposes Changes to Data Collection Form
The Office of Management and Budget (“OMB”) is currently accepting feedback on proposed changes to the Data Collection Form (DCF) and its instructions. Published in a December 9th Federal Register notice, the proposed changes are necessary due to the Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards at 2 CFR 200 (Uniform Guidance). As a result, the new DCF and instructions will be effective for fiscal periods starting on or after December 26, 2014, in line with the Uniform Guidance’s effective date. Please note that any audits performed under OMB Circular A-133, Audits of States, Local Governments, and. Read More.
FASB Announces Agenda for Board Meeting
With a board meeting set for tomorrow at 8:00 a.m. EST, the Financial Accounting Standards Board (“FASB”) has released a notice of open meetings: Insurance—targeted improvements to the accounting for long-duration contracts. FASB will discuss long-duration contracts improvements, particularly modifying assumptions and discount rate. Leases . Discussions will continue on FASB’s May 2013 Exposure Draft, specifically reviewing nonpublic business entity discount rate, related party leasing transactions, accounting for sale and leaseback transactions, and leveraged leases. Financial statements of not-for-profit entities . Ongoing discussions will continue over not-for-profit disclosures, such as cost allocations. Open discussion. If need be, FASB will discuss small issues on technical projects or. Read More.
FASB Proposes Additional Guidance to Cloud Service Providers on Customer Fees
Expected to simplify accounting for a customer’s fees paid in a cloud computing arrangement, Accounting Standards Update (ASU), Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement has been issued by the Financial Accounting Standards Board (“FASB”). The proposal is in response to the lack of accounting guidance for cloud service providers regarding the fees paid by a customer. Stakeholders claim this has resulted in confusion and unnecessary cost when accounting for such fees. The proposed guidance would help customers decide whether a cloud computing arrangement contains a software. Read More.
Writer Advises Nonprofits How to Connect with Audience
As part of his weekly series on using storytelling for social change, author and Working Narratives managing director Paul VanDeCarr recently responded to nonprofit staff-submitted questions regarding how their organizations can captivate an audience. Referencing the nonprofits’ websites, VanDeCarr advised that statements and timelines are not as effective as full narratives. Rather, an approach VanDeCarr suggests is sharing stories with an individual yet vulnerable protagonist, his or her objective, the obstacles faced and a defined ending. For more on VanDeCarr’s series, visit the Chronicle of Philanthropy website . Cherry Bekaert’s Nonprofits professionals can also provide guidance for any organization.