Connections

 INSIGHTS FOR NONPROFITS

JUNE 2016  
CONNECT
Director of Nonprofit
  
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Eide Bailly is a top 25 CPA firm in the nation, has worked with nonprofits since 1917 and currently services more than 1,600 organizations across the nation.
 
Connections is published on a regular basis to keep our clients and friends informed of current news impacting nonprofits.
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The Eide Bailly Resourcefullness award recognizes nonprofits that have used sustainable, creative and impactful initiatives for revenue generation.

Nonprofits in Arizona, Colorado, Minnesota and Utah are eligible to apply with opportunities to win up to $10,000.

Submissions are being accepted now. Learn more and apply here.
What to Expect from the 2016 Single Audit
By: Eric S. Berman, Partner

Many nonprofit entities are subject to a federal single audit. Such audits are based on the provisions of Title 2, Code of Federal Regulations, Part 200, commonly known as the Uniform Guidance. These complex regulations have recently changed.

Existing federal awards that were received before Dec. 26, 2014, without any new incremental funding on or after that date, will still have an audit in accordance with the old provisions of Circular A-133. Those audits will also be governed by the terms and conditions of those awards.

View the full article here.
IRS Scrutiny of Donor Advised Funds
By: Deb Nelson

The Treasury Department and Internal Revenue Service are actively scrutinizing donor advised funds (DAFs) out of concern they may be generating questionable charitable deductions, impermissible economic benefits to donors, and management fees for promoters of such funds.

The use of donor advised funds has grown significantly over the years. The 2015 Donor Advised Fund Report from the National Philanthropic Trust states that assets held in donor advised funds topped $70 billion in 2014, with distributions of $12.5 billion.

Read the full article here. 
NetSuite Honors Eide Bailly with 5-Star Award

Eide Bailly LLP is a recipient of the 2016 NetSuite 5-Star Award! Presented at SuiteWorld 2016, NetSuite's annual user conference in San Jose, Calif., the 5-Star Award is NetSuite's highest level of recognition for partners and Netsuite solution providers. 
In Case You Missed It! 

Recent posts to the Nonprofits Talk blog include: 
2015 Corporate Responsibility Report 

Our 2015 report included the following metrics:

Women in Business: 27% of our partners are women, up from 20% in 2009 and exceeds the 17% industry average
 
Personnel Retention: 88% of personnel were retained for fiscal year 2015, exceeding the 85% industry average
 
Wellness: 85% of our personnel utilize a $300/$600 reimbursement for wellness-related expenses. This represents a $400,000 firm-wide commitment.
 
Our 2016 initiatives include:

Volunteerism: Creation of a tracking system for volunteerism and encouraging all partners and personnel to volunteer and give back to their communities
 
Reduce. Reuse. Recycle: Implementation of several initiatives, including donating used computer equipment, reducing paper consumption and delivering all reports electronically 
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