New Program Provides COVID-19 Relief Funding for Private Schools
The coronavirus has created unprecedented educational disruptions across the country – schools shifting online, closing, reopening for in-person classes, and then going back to an online format as the pandemic surges and recedes. Schools have also had to reconfigure classrooms and common spaces and reduce capacity to enable social distancing,
2020 Compliance Requirements for Federal Funding: What We Know Now
Along with many other personal and professional disruptions this year, COVID-19 is impacting the regulatory environment for organizations with funding covered by the Office of Management and Budget’s (OMB) Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (commonly called “Uniform Guidance”), and potentially subject to a single
How Not-for-Profit Grants and Contracts Effect Revenue Recognition under ASC 606
Steps to Help Not-for-Profits Scrutinize their Revenues for Impact from Recent Accounting Standards The time has come for many not-for-profits to incorporate ASC 606 Revenue from Contracts with Customers in their GAAP financial statements. This overhaul to the model of recognizing revenue with customers has left many questioning what funding
How Not-for-Profits Make a Difference with Relevant, Local Data
Recently, Barnes Dennig and Hauser revealed the results of the 2019 Non-Profit Compensation Benefits and Benchmarking Study. For this 7th edition of the study, a record high 117 organizations participated with over 50% of those organizations being in the social or human services sectors. In addition to revealing feedback
One Year After Ohio Behavioral Health Redesign: What are Local Agencies Saying?
Over a year after the effective date of Ohio Managed Care kicked in, Barnes Dennig connected CFOs of local mental health organizations to discuss, “where are we now?” in relation to Behavioral Health Redesign (BHR). This was one in a series of Barnes Dennig’s recurring luncheons to connect financial decision
Relief for Not-for-Profits Provided by New Accounting Standard
On May 30, 2019, the Financial Accounting Standards Board (FASB) released Accounting Standards Update (ASU) 2019-06, a standard extending relief to not-for-profit entities with goodwill and certain identifiable intangible assets resulting from a business combination. The standard allows all not-for-profit entities to apply accounting alternatives that were formerly only available