Nonprofit Insights and Expertise from BKD CPAs & Advisors

The nonprofit world is constantly changing. Make sure you stay up to date on the latest laws that could affect your nonprofit with insights from BKD CPAS & Advisors:

EIDL Program Updates – Expanded Eligibility; Larger, More Flexible Loans; & Longer Deferment

On September 7, 2021, the U.S. Small Business Administration (SBA) announced several changes to its COVID-19 Economic Injury Disaster Loan program that are effective immediately. The SBA also revised its frequently asked questions to reflect these updates. This article provides details on the changes.

Find out more here.

ASC 842, Leases: September 2021 Update

In June 2020, FASB issued Accounting Standards Update 2020-05, which provides nonpublic entities and not-for-profits additional time to implement Accounting Standards Codification (ASC) 842, Leases. This document has been refreshed to incorporate all subsequent standard setting and implementation guidance issued by FASB.

Learn more here.

Preparing Your Organization for the Rise in Cryptocurrency Donors

The movement of cryptocurrency and digital assets to the mainstream has changed how we exchange value. The value of cryptocurrencies such as Bitcoin and Ether has seen a significant increase over the last year. Donors are crypto-rich and looking for ways to deploy their gains for good. There are new nontraditional donor opportunities coming from the cryptocurrency universe.

Read the full article here.

ESG Is Here to Stay – Creating a Winning Strategy for Your Organization

We’re rapidly approaching the end of the days when organizations can pay lip service to their commitment to environmental, social, and governance (ESG) principles without backing up those claims with evidence and facts. And while a push is being made to standardize ESG policies, currently there’s no one “right” way. Instead, building your ESG policy in conjunction with your donors and/or grantors can help ensure their priorities on ESG are represented and tailored to your organization.

Learn more here.

Pros & Cons of Outsourcing Accounting Functions for Nonprofits

Have you compared the pros and cons of hiring an in-house accounting and finance professional to outsourcing this function? In this video, Director Stephanie Whitacre provides insight on outsourcing and reviews key items you should consider that can affect your organization.

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