Nonprofit Organization Updates
Accounting for pledges isn’t as simple as it might seem
July 31, 2018
When a donor promises to make a contribution at a later date, your not-for-profit likely welcomes it. But such pledges can come with complicated accounting issues.
How materiality is established in an audit or a review
March 23, 2018
When accountants conduct an audit or review, they can’t test every transaction. Instead, they set a “materiality” threshold. This benchmark is used to obtain reasonable assurance in an audit — or limited assurance in a review — of detecting misstatements that could be large enough, individually or in the aggregate, to be material to the financial statements.
Nonprofit Organization Deadlines
Don’t miss these important deadlines for your NFP organization
- December 31 year end
- Form 990 and PC
- Due May 15
- Massachusetts Uniform Financial Report (UFR)
- Due May 15
- Data Collection Form
- Due the earlier of 30 days after your auditors’ report is issued or 9 months after your fiscal year end
- Form 990 and PC
- June 30 fiscal year end
- Form 990 and PC
- Due November 15
- Massachusetts Uniform Financial Report (UFR)
- Due November 15
- Data Collection Form
- Due the earlier of 30 days after your auditors’ report is issued or 9 months after your fiscal year end
- Form 990 and PC
- September 30 fiscal year end
- Form 990 and PC
- Due February 15
- Massachusetts Uniform Financial Report (UFR)
- Due February 15
- Data Collection Form
- Due the earlier of 30 days after your auditors’ report is issued or 9 months after your fiscal year end
- Form 990 and PC
