NEWS

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.

READ MORE >

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.

READ MORE >

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
  • 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
  • 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