August 2016: This is the full text from FASB of the comprehensive standards update impacting not-for-profit entities beginning, for most schools, in the 2018-19 fiscal years and to be implemented on a
How should schools comply with tax regulations for domestic and/or international students that receive financial aid for room and board and other non-qualified expenses?
Prepared by Jennifer
Provided by Chuck Procknow and team at George K. Baum & Company with the following message: Here is a good sample form that we will be sharing with schools that are planning capital campaigns. The
Use this template to send a message and instructions along with the Form 8300 to parents/payers subject to the filing, which relates to the school's receipt of cash or cash equivalent payments of more
This is a simple guide for the business and advancement/development offices to use to be clear when recording gifts received during the crossover in fiscal years when, understandably, donors and
Released in 2011, this white paper discusses the guidance that requires non-profit entities to discount pledges receivable beyond one year to their net present values as well as the related
Includes questions to ask yourself and your business offices when going through year-end close and audit preparation. Also helps you understand the mindset of an auditor and offers quick tips for a
Pledges not expected to be paid for more than one year should be discounted for time value. Calculations should be done for the total pledges outstanding by fund (permanently restricted, temporarily
