Not-For-Profit Accounting in Tempe
A disposal of a fixed asset should occur when an asset is obsolete, broken, or sold. No matter what the circumstance, the treatment to remove the asset from your books is the same. You will need to be sure you … read more
If your organization receives federal funding and undergoes an Office of Management and Budget (OMB) A-133 audit or better known as a single audit, your organization is required to file a Data Collection Form with the Federal Audit Clearinghouse (FAC), … read more
I was recently reading an article in the September issue of the Journal of Accountancy that highlighted tips for good not-for-profit governance that were presented at this year’s AICPA Not-for-profit Industry Conference. It was such a concise, solid list that … read more
Here are ten important things to know when you have a political organization (PAC): (1) The IRS requires that a PAC have its own taxpayer ID # which can easily be obtained at the IRS website by completing form SS-4. (2) When … read more
Expenses are reported in two different ways on the 990 return: by their natural classification (salaries, depreciation, travel, etc.) and by their functional classification (program, administrative, fundraising). Correct functional allocation of expenses is important because some donors may scrutinize the … read more
“Best practices” can be a buzz phrase you hear a lot, especially when it comes to governance of a not-for-profit organization. With the overload of information available to organizations, it’s easy to see why some view the task of incorporating … read more
In Part I of this article we discussed the accounting impacts of mergers and acquisitions on non-profit entities. Ultimately the distinction between the two comes down to the form of governance of the new entity as well as the power … read more
Recently, we had a blog regarding the trend of non-profit organizations considering mergers with like organizations, and the pros vs. cons on such a decision by a governing body. This blog quickly highlights the effects on the financial statements for … read more
BREAKING NEWS! The Arizona Corporation Commission has reinstituted an annual report reminder system! You still have to go onto their website and “subscribe” but that sure beats the old system of putting it on your outlook calendar and hoping you … read more
Our Not-For-Profit niche is a strong team of experienced professionals who focus their work in the not-for-profit industry. Henry & Horne has been a stable local firm in Arizona for 55 years, and the Not-For-Profit niche has a long history of working with charitable organizations and other tax exempt organizations of all kinds. Our focus is exceptional client service and building relationships with our clients to promote communication throughout the year, not just at the time of the annual audit. We highly value and are very proud to be helping those who help others.
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