Not-For-Profit Newsletter September 2016

share this article


View this email in your browser

SKR+Co Not-For-Profit Newsletter

September 2016

What the new DOL overtime rules will mean for your nonprofit

The Department of Labor’s new overtime rules, which will make many more employees eligible for overtime pay under the FLSA, take effect December 1, 2016 — and nonprofits aren’t exempt. Even if an organization isn’t covered by the FLSA, its employees may be covered as individuals and thus eligible for overtime. This article addresses the new salary-level tests for exempt workers, the impact on nonprofits and some exceptions to the rules. A sidebar offers four options for compliance.

Read the Full Article Here.

Corporate sponsorship money: Is it taxable?

If a nonprofit isn’t careful, a corporate sponsorship can be deemed paid advertising and the organization could end up liable for unrelated business income tax (UBIT). Although the Internal Revenue Code includes an exception from UBIT for certain sponsorship arrangements, navigating the rules can prove tricky. This article explains the “qualified sponsorship payment” exception, the “use or acknowledgment” provisions and the allocation of sponsor payments. A sidebar discusses the rules for exclusivity arrangements.

Read the Full Article Here.

Taking the long view: Sustainability 

In the wake of the most recent recession, many nonprofits are continuing to take a hard look at their sustainability over the long term. This article examines factors that affect sustainability directly, such as the diversity of an organization’s funding sources, and some indirect factors that have an impact on sustainability, including branding, outcome evaluation and contingency planning.

Read the Full Article Here.


This issue’s “Newsbits” reports on free cloud services offered by Microsoft’s philanthropic arm, a new report that details volunteerism efforts in America, and a survey on the topic of public confidence in nonprofits.  

Read the Full Article Here.

Nonprofit Finance Fundamentals

October 18 @ 9:00 am – 12:00 pm
CNE is partnering with Stockman Kast Ryan + Co to present this half-day workshop covering:

  • Financial statements basics
  • Form 990
  • Investment and other finance policies

This workshop is designed for those working in nonprofit finances, individuals new to nonprofit finances, current and prospective board members, especially treasurers, and executive directors & management staff.

Register Here

FASB Issued Major Change to Nonprofits’ Accounting Standards

The Financial Accounting Standards Board (FASB) has issued the first major changes to the accounting standards for nonprofits’ financial statement presentation in more than two decades. Accounting Standards Update (ASU) No. 2016-14, Not-for Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities, affects just about every nonprofit, including charities, foundations, private colleges and universities, nongovernmental health care providers, cultural institutions, religious organizations, and trade associations.

Read More Here.


Steve Hochstetter, CPA, ABV, CFF,CVA
Audit Partner

Ellen Fisher, CPA

Audit Partner

Jamie Meidinger, CPA
Senior Audit Manager

Doreen Merz, CPA
Senior Tax Manager


For more information on our Not-for-Profit services, please see our website HERE.


Get the latest news to help your organization fulfill its mission!

Here are some recent topics:

Have questions? Contact us: (719) 630-1186 or Click Here

Copyright © *|CURRENT_YEAR|* *|LIST:COMPANY|*, All rights reserved.

Our mailing address is:
unsubscribe from this list    update subscription preferences 





Forward to Friend

SKR+CO Expert
Steve Hochstetter, CPA/ABV®, CFF™, CVA, Audit Partner
Steve has been in public accounting since 1983, with significant experience serving nonprofit organizations, healthcare organizations, governmental entities, and small to mid-size businesses.