Nonprofit Standard Newsletter
The nonprofit sector is vibrant and diverse, characterized by a commitment to service and impact. Leaders in the sector work to develop a deep understanding of the unique challenges, compliance requirements and opportunities that come with managing an organization focused on mission.
BDO’s Institute for Nonprofit Excellence recognizes and serves the distinct needs of nonprofit organizations of all kinds. Whether you're a health and human services organization, an educational institution, a grantmaker, or a global nongovernmental organization, BDO’s contributors to the quarterly Nonprofit Standard newsletter share their insights to guide you along the path to achieving your mission and amplifying your impact.
Crafted with a blend of editorial insight and sector-specific experience, the Nonprofit Standard quarterly newsletter delivers pertinent and actionable information to keep dedicated nonprofit leaders like you informed about the latest trends and best practices that are influencing the nonprofit world. Scroll down to see our latest insights, and, if you’re not yet a subscriber, sign up below!
People who know Nonprofit organizations, know BDO.
Fall 2024 Issue
The Fall 2024 Nonprofit Standard Newsletter offers nonprofit leaders essential insights into current and emerging issues that could significantly impact their operations.
This edition covers the 2024 Revised Uniform Guidance, effective October 1, 2024, which introduces significant changes to federal financial assistance management, urging nonprofits to review these revisions for compliance. It also highlights the OMB's 2024 Compliance Supplement, crucial for nonprofits with federal funding, guiding them in understanding compliance requirements and preparing for audits. The newsletter emphasizes the importance of avoiding political campaign intervention for Section 501(c)(3) organizations to maintain tax-exempt status, detailing permissible activities like nonpartisan voter education. It explores the evolving role of the nonprofit CFO, now integral to strategic decision-making and cross-functional collaboration, enhancing financial health and mission success. Additionally, it addresses the correct classification of volunteers as unpaid employees or independent contractors to avoid tax liabilities and penalties, following IRS and DOL guidelines. Lastly, it discusses GASB Statement No. 103, effective for fiscal years starting after June 15, 2025, which aims to improve the financial reporting model for state and local governments, enhancing clarity and consistency in financial communication.
We invite you to explore each article below to gain deeper insights into these critical topics.
Upcoming Webcasts
2024 Annual Nonprofit Tax Update
Join BDO as we discuss the IRS’s major changes for tax exempt organizations including guidance from the IRS and Treasury on how these changes will be implemented & new initiatives that the IRS is working on and is considering.
View all upcoming webcasts and webcast recordings by visiting The Informed Nonprofit Webcast Series
Summer 2024 Issue
The Summer 2024 Nonprofit Standard Newsletter provides nonprofit leaders with essential insights into current and emerging issues that could significantly impact their operations. This edition covers the IRS's final regulations on the "elective pay" option under the Inflation Reduction Act, enabling tax-exempt entities to monetize energy tax credits. Additionally, it highlights best practices in procurement and suspension and debarment for organizations receiving federal financial assistance, ensuring compliance with Title 2 CFR Part 200, Uniform Guidance. The newsletter delves into the impact of HIPAA on nonprofits, detailing compliance obligations for processing protected health information. The newsletter also explores the strategic integration of AI, emphasizing alignment with organizational missions and data privacy. Lastly, it presents findings from BDO’s 2023 survey on nonprofit executive compensation, revealing trends in performance-based pay and deferred compensation plans. We invite you to explore each article to gain deeper insights into these critical topics.