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NPOfa18
Fall 2018
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221 S. Warren St., Syracuse, NY 13202 | [(315) 472-9127 | www.dmcpas.com
Peggy Rowe
Since 1978, Dannible & McKee, LLP has led the way in helping nonprofits operate more efficiently and effectively. We offer a comprehensive set of accounting, audit, tax and management advisory services geared specifically to the needs of those important organizations.

To learn more about what we can do for you and how we can specially tailor our services to benefit your organization, download our Nonprofit Brochure or visit our website


For more information please contact Partner Peggy J. Rowe at prowe@dmcpas.com


After the TCJA - How to keep the giving going this holiday season

The new tax law’s increase of the standard deduction means that fewer taxpayers will now itemize, and thus be motivated to make deductible gifts to charity. This article urges nonprofits to rethink their approach to holiday fundraising. For example, they should promote the idea of “bunching” donations, take part in deadline-oriented fundraisers such as Giving Tuesday and encourage supporters to make charitable donations in lieu of giving physical gifts. A sidebar summarizes congressional efforts to enable universal charitable deductions.

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New revenue guidance provides direction to nonprofits

This article summarizes ASU 2018-08, which the Financial Accounting Standards Board recently issued to resolve for nonprofits’ revenue recognition issues. It covers the 2014 standard that gave rise to questions, explaining when grants should be characterized as reciprocal exchanges vs. contributions and defining conditional contributions.

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Nonprofit accounting is different: Here’s how

Nonprofit board members who come from the business sector may not grasp the differences between nonprofit and for-profit financial reporting. This article provides a cheat sheet on how financial approaches and statements, particularly for assets and liabilities, differ.

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Building an effective audit committee

Nonprofit boards aren’t required to form audit committees, but having one can promote better financial reporting, fewer fraud incidents and a smoother audit process. This article explains that committee members can’t be employed by the nonprofit or its auditing firm. It also outlines some of the committee’s responsibilities.

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This publication is distributed with the understanding that the author, publisher and distributor are not rendering legal, accounting or other professional advice or opinions on specific facts or matters, and accordingly assume no liability whatsoever in connection with its use. ©2018 • NPOfa18