Author: Courtney Healy
At Dugan & Lopatka, we are seeing more and more nonprofit organizations receive charitable gifts from donor-advised funds. You can think of these like charitable investment accounts. The IRS provides guidance on gift substantiation on their website. Read the article for our full summary.
Last Fall, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) intended to improve transparency in the reporting of contributed nonfinancial assets, also known as gifts-in-kind, for not-for-profit organizations. Read the article to learn more about it.
Nonprofit organizations often rely on non-cash contributions from donors, called in-kind contributions. The most common are donated assets, space, and services. There are many different methods organizations use to value these types of contributions. In this article, we look at some of the common ways to determine the value of in-kind contributions.
Running a family business can be as tough as, well, running a family. In this post, we unpack some of the unique challenges that family-owned businesses face, take a quick detour through HBO’s Succession, and discuss how you can make the right decisions for your business—even when there’s emotional baggage.