PPP loan and Shuttered Venue operators grant
Latest FAQS from SBA on Shuttered Venue Operators Grant
How do I account for my PPP loan; as a loan or as a grant?
accounting & Audit related
Federal government provides audit deadline extension to certain recipients of federal funds
FASB modifies definition of "collections" for art, historical treasures and similar items with ASU N
FASB issues new guidance (ASU No. 2020-07) on the presentation and disclosure for in-kind gifts
AICPA issues guidance on accounting for PPP loans by issuing Technical Question and Answer (TQA) 32
ASU Update 2018-08 (Topic 958) Clarifying the scope and accounting guidance for contributions
Governance and management resources
Cybersecurity Issues and Charities Archived Webinar
This recorded webinar contains basic information that charities should consider in order to protect their valuable donor, client, employee, and other data from cyber hackers. Charities, like for-profit businesses, have information that cyber criminals value. Taking basic steps to protect your organization's information can reduce your risks. This webinar covers both prevention and response strategies for charities . This webinar can be viewed below.
Nonprofit Board Governance Archived Webinar
Board members play a critical role in protecting the integrity and resources of charitable organizations. This approximately hour-long webinar provides a basic overview of the legal responsibilities that board members of charities have. A recording of the webinar can be viewed below.
Ohio Attorney General's Guide for Charity Board Members
The guide offers a general overview of the four legal fiduciary duties of Ohio charity board members and can be accessed at :
Ohio Attorney General's Guide to Avoiding Theft in a Non-profit Organization
Having a big sale, on-site celebrity, or other event? Be sure to announce it so everybody knows and gets excited about it.
Tax related
DOL (not IRS) issues Final Rule on distinguishing independent contractors from employees
What non-profit organizations must file with the Ohio Attorney General?
Ohio's Charitable Registration System Archived Webinar. This webinar provides a basic overview
AICPA Sample Non-Profit Conflict of Interest Policy
Purpose of this Tool
It is important that those who work with and for not-for-profit entities (NFPs) conduct themselves in an ethical and transparent manner. The decisions and actions of the leadership of an NFP can have a direct and significant impact on the reputation of the NFP with its supporters and the general public. This tool contains sample elements that can be used in the creation of a policy to address potential conflicts of interest with employees and board members. As with any policy of this nature, the NFP may wish to consult legal counsel for assistance in developing a conflict of interest policy that is appropriate for the organization. Please contact us for access to this valuable tool.