How Not-for-Profit Grants and Contracts Effect Revenue Recognition under ASC 606
Steps to Help Not-for-Profits Scrutinize its 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
Maximize Endowments by Leveraging Life Insurance
During your lifetime, there are many drivers for seeking life insurance policies; oftentimes to function as a replacement of income in the event of tragedy or other loss. Each situation is unique; however, and beneficiaries can be set as family members, children, a closely held business or even a business
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
Private Company Relief – FASB Approves Delay of Effective Dates for Changes in Lease Accounting and Credit Loss Accounting
In our previous coverage of the Financial Accounting Standards Board (FASB) proposal to delay Changes in Lease Accounting and Credit Loss Accounting in July of 2019, we reported that the FASB voted in favor of one-year delays in the effective dates for non-public entities. At their most recent meeting in
The Non-Profit Request for Proposal: Best Practices & Focus Areas
Executive Directors and Board of Directors are tasked with many responsibilities essential to the success of a nonprofit organization. It’s imperative they offer leadership and guidance on program management, staff and volunteer recruiting, marketing, community engagement and managing fundraising programs. There is another task management must also address which includes