December 2018
Happy Holidays and Best Wishes for a Wonderful and Prosperous New Year!
IRS Notice Regarding Parking Expenses for Qualified Transportation Fringes: Understanding §274 (a) (4)
and §512 (a) (7)

IRS Published Notice  
With the passage of the Tax Cuts and Jobs Act at the end of 2017, significant changes were made regarding how to determine the amount of employee parking expenses with respect to qualified transportation fringes (QTFs) that is nondeductible for employers. 

The IRS Tax Code was amended by the Act so that deductions for QTF expenses provided by an employer for its employees are now disallowed. A nonprofit’s Unrelated Business Taxable Income (UBTI) is going to be increased by the amount of the nondeductible QTF expense.  

Big Changes on the Horizon for Nonprofit Financial Statement

Nonprofit (“NFP”) organizations, are you ready? NFP organizations are about to be hit with some big changes to financial statement reporting and it may require some additional work for many Organizations.

Over the past year, we have been notifying organizations of these changes, and the time for implementation is now. Effective for periods beginning after December 15, 2017, FASB Accounting Standards Update (ASU) 2016-14 was created to simplify net assets and improve disclosures on liquidity, financial performance and cash flows. The purpose is to make NFP financials more comparable to others in the same industries and to present the financial information in a way that is more useful to its readers.
The Role of Staff in a
Nonprofit Organization
While much attention is paid to providing advice on the various roles of volunteers and to defining board member responsibilities, one of the challenges that nonprofit organization’s face is understanding the roles of the paid staff. Many of the small to mid-size nonprofits have limited staff and as such, it is essential to leverage their time, resources and skills as effectively as possible.
Client Spotlight is on
Worldwide Orphans
This month’s spotlight is on Worldwide Orphans (WWO), a nonprofit organization established in 1997 by Dr. Jane Aronson, a global pediatric specialist. WWO is a New York/New Jersey based international nongovernmental organization (INGO) with programs in Bulgaria, Ethiopia, Haiti, the US, and Vietnam.

Digital Media Marketing Sponsorship - A Smart Move
For Nonprofits
Nonprofit organizations carry a huge social burden. If they’re not effective in their efforts to raise money, the individuals who depend on them for their services get left out in the cold – oftentimes quite literally. Although these nonprofit organizations tend to be experts in fundraising, there is one area of development that remains mostly untapped, and that is the area of digital media marketing sponsorships, especially among small to medium-sized businesses.

Upcoming Events
January 17, 2019
Executive Women's Breakfast

January 22, 2019
Nonprofit Board Leadership Roundtable

February 6, 2019
Nonprofit Webinar