--- title: Machen McChesney Blog | Not For Profit description: Not For Profit | --- [Family of Services](http://machenmcchesney.com/about-us/family-of-companies/)  |  [CPA & Business Advisory](http://machenmcchesney.com)  |  [Payroll, HR & Benefits](http://focuspaysolutions.com/)  |  [Wealth Management](http://machenmcchesney.com/services/financial-planning-and-wealth-mangement-services/) Auburn-Opelika (334) 887-7022 | Montgomery (334) 244-8900 [![Machen McChesney](https://info.machen.cpa/hs-fs/hub/471263/file-2521950511.png?width=279&name=file-2521950511.png "Machen McChesney")](http://machenmcchesney.com) Search this site on Google Search Google Search this site on Google Search Google - [Client Portal](https://machenmcchesney.sharefile.com/Authentication/Login) - [1040 Electronic Organizer](https://www.my1040data.com/account/login/HT7902990) - [LinkedIn](https://www.linkedin.com/company/675439?trk=tyah&trkInfo=idx%3A1-1-1%2CtarId%3A1424436970395%2Ctas%3Amachen+mcchesney) - [Facebook](https://www.facebook.com/machenmcchesney) - [Google](https://plus.google.com/101356546927388458481) - [Twitter](https://twitter.com/machenmcchesney) - About Us - [Welcome](http://machenmcchesney.com/about-us/welcome/) - [Affiliations and Associations](http://machenmcchesney.com/about-us/affiliations-and-associations/) - [Community Events](http://machenmcchesney.com/about-us/community-events/) - [Family of Companies](http://machenmcchesney.com/about-us/family-of-companies/) - [History](http://machenmcchesney.com/about-us/firm-profile-history/) - [Mission and Values](http://machenmcchesney.com/about-us/mission-and-values/) - [Team Directory](http://machenmcchesney.com/about-us/team-directory/) - Services - [Accounting & Outsourcing](http://machenmcchesney.com/services/accounting-outsourcing/) - [Audit and Assurance Services](http://machenmcchesney.com/services/audit-assurance/) - [Business Advisory Services](http://machenmcchesney.com/services/business-advisory/) - [Business Valuation Services](http://machenmcchesney.com/services/business-valuation-services/) - [Family Office Services](http://machenmcchesney.com/services/family-care/) - [Financial Planning & Wealth Mangement Services](http://machenmcchesney.com/services/financial-planning-and-wealth-mangement-services/) - [Individual Services](http://machenmcchesney.com/services/individuals/) - [Taxation](http://machenmcchesney.com/services/taxation/) - Who We Serve - [Construction & Real Estate](http://machenmcchesney.com/industries/construction-real-estate/) - [Credit Unions](http://machenmcchesney.com/industries/credit-unions/) - [Government & Not-For-Profits](http://machenmcchesney.com/industries/governmental-not-for-profit/) - [Healthcare & Professional Services](http://machenmcchesney.com/industries/healthcare-and-professional-services/) - [Hospitality, Restaurant & Retail](http://machenmcchesney.com/industries/hospitality-restaurant-retail/) - [Manufacturing, Distribution & Automotive](http://machenmcchesney.com/industries/manufacturing-distribution-automotive/) - [Success Stories](http://machenmcchesney.com/success-stories) - Resources - [Blog](https://info.machenmcchesney.com/blog) - [E-Newsletter Archive](http://machenmcchesney.com/resources/e-newsletter-archive/) - [Financial Calculators](http://machenmcchesney.com/resources/financial-calculators/) - [Financial Terms Glossary](http://machenmcchesney.com/resources/financial-terms-glossary/) - [Helpful Articles](http://machenmcchesney.com/resources/newsletter/) - [Tax Calendar](http://machenmcchesney.com/resources/tax-calendar/) - [Tax Links](http://machenmcchesney.com/resources/tax-links/) - [Track Your Refund](http://machenmcchesney.com/resources/track-your-refund/) - [Sign Up for Our E-Newsletter](http://machenmcchesney.com/resources/e-newsletter/) - [Subscribe to Our Blog](http://machenmcchesney.com/resources/subscribe-to-the-machen-mcchesney-blog/) - News & Events - [Press Releases](http://machenmcchesney.com/news-events/press-releases/) - [Upcoming Events](http://machenmcchesney.com/news-events/upcoming-events/) - Careers - [Our Culture](http://machenmcchesney.com/careers/culture/) - [Benefits](http://machenmcchesney.com/careers/benefits/) - [Our Stories](http://machenmcchesney.com/careers/our-stories/) - [Current Openings](http://machenmcchesney.com/careers/current-openings-send-resume/) - [Accounting Internship Opportunities](http://machenmcchesney.com/careers/students/) - Contact Us - [Auburn-Opelika Office](http://machenmcchesney.com/contact-us/contact-us-auburn-office/) - [Montgomery Office](http://machenmcchesney.com/contact-us/contact-us-montgomery-office/) # Returning Value Blog ## [Grant Management & Compliance](https://info.machen.cpa/blog/the-foundational-concepts-of-grants-management-compliance) ![](https://info.machen.cpa/hubfs/Lesley%20Price%202025%20update.jpg) Posted by [Lesley L. Price, CPA](https://info.machen.cpa/blog/author/lesley-l-price-cpa) on Aug 17, 2023 [![](https://info.machen.cpa/hubfs/Grants%20-1207104984-1.jpeg)](https://info.machen.cpa/blog/the-foundational-concepts-of-grants-management-compliance) Charging Personnel Costs to Federal Awards Salary costs represent the bulk of dollars from federal grants and often pose compliance risks and challenges to new and experienced recipients alike. One question we are often asked by clients is, "how can we maintain compliance with federal regulations regarding accurately supporting and recording personnel costs when not all of our employees complete and submit timesheets?" In this article, we will discuss the federal requirements for charging personnel costs to awards, alternatives to timesheet processes, and common challenges and pitfalls to avoid when charging labor costs to federal grants. [Full Story](https://info.machen.cpa/blog/the-foundational-concepts-of-grants-management-compliance) Posted in [Not For Profit](https://info.machen.cpa/blog/topic/not-for-profit) ## [Demystifying Nonprofit Cost Allocations](https://info.machen.cpa/blog/demystifying-nonprofit-cost-allocations) ![](https://info.machen.cpa/hubfs/Lesley%20Price%202025%20update.jpg) Posted by [Lesley L. Price, CPA](https://info.machen.cpa/blog/author/lesley-l-price-cpa) on Jul 21, 2023 [![](https://info.machen.cpa/hubfs/iStock-486773494-2-1.jpeg)](https://info.machen.cpa/blog/demystifying-nonprofit-cost-allocations) When asked what is at the top of their finance department’s “to-do” list, many nonprofits name the need for an updated cost allocation plan. An effective cost allocation strategy is essential to organizations’ understanding of how their resources are being deployed. It is also integral to performing cost analyses, such as evaluating funding requirements and comparing actual versus budgeted costs. [Full Story](https://info.machen.cpa/blog/demystifying-nonprofit-cost-allocations) Posted in [Not For Profit](https://info.machen.cpa/blog/topic/not-for-profit) ## [Gifts in Kind: New Reporting Requirements for Nonprofits](https://info.machen.cpa/blog/gifts-in-kind-new-reporting-requirements-for-nonprofits) ![](https://info.machen.cpa/hubfs/Lesley%20Price%202025%20update.jpg) Posted by [Lesley L. Price, CPA](https://info.machen.cpa/blog/author/lesley-l-price-cpa) on Oct 08, 2020 [![](https://info.machen.cpa/hubfs/Non%20Profit%20-%20471094008-1.jpeg)](https://info.machen.cpa/blog/gifts-in-kind-new-reporting-requirements-for-nonprofits) On September 17, the Financial Accounting Standards Board (FASB) issued an accounting rule that will provide more detailed information about noncash contributions charities and other not-for-profit organizations receive known as “gifts in kind.” Here are the details. [Full Story](https://info.machen.cpa/blog/gifts-in-kind-new-reporting-requirements-for-nonprofits) Posted in [Not For Profit](https://info.machen.cpa/blog/topic/not-for-profit) ## [President Signs Protecting Nonprofits From Catastrophic Cash Flow Strain Act Into Law.](https://info.machen.cpa/blog/president-signs-protecting-nonprofits-from-catastrophic-cash-flow-strain-act-into-law) ![](https://info.machen.cpa/hubfs/Lesley%20Price%202025%20update.jpg) Posted by [Lesley L. Price, CPA](https://info.machen.cpa/blog/author/lesley-l-price-cpa) on Oct 05, 2020 [![](https://info.machen.cpa/hubfs/Non%20profit-500073478-1.jpeg)](https://info.machen.cpa/blog/president-signs-protecting-nonprofits-from-catastrophic-cash-flow-strain-act-into-law) August 3, 2020, President Trump signed the legislation to assist nonprofits and government entities into law. [Full Story](https://info.machen.cpa/blog/president-signs-protecting-nonprofits-from-catastrophic-cash-flow-strain-act-into-law) Posted in [Not For Profit](https://info.machen.cpa/blog/topic/not-for-profit) ## [Coronavirus Strikes Nonprofits in More Ways Than One](https://info.machen.cpa/blog/coronavirus-strikes-nonprofits-in-more-ways-than-one) ![](https://info.machen.cpa/hubfs/Lesley%20Price%202025%20update.jpg) Posted by [Lesley L. Price, CPA](https://info.machen.cpa/blog/author/lesley-l-price-cpa) on Mar 20, 2020 [![](https://info.machen.cpa/hubfs/Red%20Coronavirus%201202270061-1.png)](https://info.machen.cpa/blog/coronavirus-strikes-nonprofits-in-more-ways-than-one) Now present on every continent except Antarctica, [COVID-19](https://www.bdo.com/insights/business-financial-advisory/insurance-risk-recovery/covid-19) has infected more than 125,000 people and is responsible for more than 4,600 deaths. With the number of cases in the U.S. continuing to climb, individuals and companies alike are taking steps to prepare for a pandemic. From a shortage of masks and hand sanitizer to CDC-imposed travel restrictions and the cancellation of conferences and other large events across the globe, this public health emergency is rapidly evolving and all sectors are having to navigate its impact and uncertainty around what the future holds. [Full Story](https://info.machen.cpa/blog/coronavirus-strikes-nonprofits-in-more-ways-than-one) Posted in [Not For Profit](https://info.machen.cpa/blog/topic/not-for-profit) ## [Nonprofits: Are You Ready For the New Contribution Guidance?](https://info.machen.cpa/blog/nonprofits-are-you-ready-for-the-new-contribution-guidance) ![](https://info.machen.cpa/hubfs/Lesley%20Price%202025%20update.jpg) Posted by [Lesley L. Price, CPA](https://info.machen.cpa/blog/author/lesley-l-price-cpa) on Jan 07, 2020 [![](https://info.machen.cpa/hubfs/Black%20%26%20Red%20words-472239738-1.png)](https://info.machen.cpa/blog/nonprofits-are-you-ready-for-the-new-contribution-guidance) When the Financial Accounting Standards Board (FASB) updated its rules for recognizing revenue from contracts in 2014, it only added to the confusion that nonprofits already had about accounting for grants and similar contracts. [Full Story](https://info.machen.cpa/blog/nonprofits-are-you-ready-for-the-new-contribution-guidance) Posted in [Not For Profit](https://info.machen.cpa/blog/topic/not-for-profit) ## [Is Your Not-for-Profit Financially Fit?](https://info.machen.cpa/blog/is-your-not-for-profit-financially-fit) ![](https://info.machen.cpa/hs-fs/hub/471263/file-2626477966.jpg) Posted by [Don G. Chastain, CPA](https://info.machen.cpa/blog/author/don-g-chastain-cpa) on May 24, 2018 [![](https://info.machen.cpa/hubfs/iStock-500073478-098628-edited.jpg)](https://info.machen.cpa/blog/is-your-not-for-profit-financially-fit) Being financially fit and stable is critical to any business, including a not-for-profit (NFP). If an NFP has a weak financial position, it may not be able to sustain its operations. While the perception by many in today’s society is that most NFPs are generally financially healthy, this is not always the case. For example, a recently published report noted that 41 percent of charities do not expect to make a profit over the next three years. An NFP’s liquidity is an important story to convey to the users of its financial statements. [Full Story](https://info.machen.cpa/blog/is-your-not-for-profit-financially-fit) Posted in [Not For Profit](https://info.machen.cpa/blog/topic/not-for-profit) ## [IRS Focused on Charitable Donation Substantiation Compliance](https://info.machen.cpa/blog/irs-focused-on-charitable-donation-substantiation-compliance) ![](https://info.machen.cpa/hubfs/1743_Allison_Moore_WEB.jpg) Posted by [Allison Moore](https://info.machen.cpa/blog/author/allison-moore) on Aug 14, 2017 [![](https://info.machen.cpa/hubfs/iStock-479486923-004683-edited.jpg)](https://info.machen.cpa/blog/irs-focused-on-charitable-donation-substantiation-compliance) Recent Tax Court cases have demonstrated the Internal Revenue Service’s (IRS) increase in strict compliance with the substantiation requirements for charitable donations. For example, a $64.5 million charitable contribution was recently disallowed because there was no written acknowledgment from the recipient at the time the return was filed. [Full Story](https://info.machen.cpa/blog/irs-focused-on-charitable-donation-substantiation-compliance) Posted in [Not For Profit](https://info.machen.cpa/blog/topic/not-for-profit) ## [FASB Issues ASU 2016-14, Presentation of Financial Statements of Not-for-Profit Entities](https://info.machen.cpa/blog/fasb-issues-asu-2016-14-presentation-of-financial-statements-of-not-for-profit-entities) ![](https://info.machen.cpa/hubfs/1743_Allison_Moore_WEB.jpg) Posted by [Allison Moore](https://info.machen.cpa/blog/author/allison-moore) on Oct 19, 2016 [![](https://info.machen.cpa/hubfs/iStock_73681859_LARGE-653357-edited.jpg)](https://info.machen.cpa/blog/fasb-issues-asu-2016-14-presentation-of-financial-statements-of-not-for-profit-entities) The Financial Accounting Standards Board (FASB) released the Accounting Standards Update (ASU) 2016-14, *Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities* on Aug. 18, and you can read the full ASU [**here**](http://www.fasb.org/jsp/FASB/Page/ImageBridgePage%26cid=1176168380111). [Full Story](https://info.machen.cpa/blog/fasb-issues-asu-2016-14-presentation-of-financial-statements-of-not-for-profit-entities) Posted in [Not For Profit](https://info.machen.cpa/blog/topic/not-for-profit) ## [New Tax Act Has Much for Nonprofits](https://info.machen.cpa/blog/new-tax-act-has-much-for-nonprofits) ![](https://info.machen.cpa/hubfs/1743_Allison_Moore_WEB.jpg) Posted by [Allison Moore](https://info.machen.cpa/blog/author/allison-moore) on May 11, 2016 [![](https://info.machen.cpa/hubfs/iStock_000053635028_Large-682665-edited.jpg)](https://info.machen.cpa/blog/new-tax-act-has-much-for-nonprofits) The Protecting Americans From Tax Hikes Act of 2015 (the Act), which was signed by the president on Dec. 18, 2015, contains many provisions that directly affect tax‑exempt organizations. Many recent tax provisions have been so-called “extenders,” which required passage of legislation annually in order for them to continue to remain in effect. These were typically passed at year-end for the applicable year, making planning for such provisions impossible. Now, the year-end panic is over, as the Act makes many of these provisions permanent. [Full Story](https://info.machen.cpa/blog/new-tax-act-has-much-for-nonprofits) Posted in [Not For Profit](https://info.machen.cpa/blog/topic/not-for-profit) Search this site on Google Search Google ### Recent Posts ### Subscribe to Blog ### Posts by Category - [Business Tax (356)](https://info.machen.cpa/blog/topic/business-tax) - [Business Advisory (238)](https://info.machen.cpa/blog/topic/business-advisory) - [Payroll, HR & Benefits (124)](https://info.machen.cpa/blog/topic/payroll-hr-benefits) - [Audit & Assurance (113)](https://info.machen.cpa/blog/topic/audit-assurance) - [Accounting & Outsourcing (81)](https://info.machen.cpa/blog/topic/accounting-outsourcing) - [Individual Tax (75)](https://info.machen.cpa/blog/topic/individual-tax) - [Tax Planning (33)](https://info.machen.cpa/blog/topic/tax-planning) - [Tax Updates (25)](https://info.machen.cpa/blog/topic/tax-updates) - [Retirement & Wealth Management Planning (18)](https://info.machen.cpa/blog/topic/retirement-wealth-management-planning) - [Taxation (15)](https://info.machen.cpa/blog/topic/taxation) - [Alerts (13)](https://info.machen.cpa/blog/topic/alerts) - [Business Valuation (11)](https://info.machen.cpa/blog/topic/business-valuation) - [News & Events (11)](https://info.machen.cpa/blog/topic/news-events) - [Tax News (11)](https://info.machen.cpa/blog/topic/tax-news) - [Individual Tax Planning (10)](https://info.machen.cpa/blog/topic/individual-tax-planning) - [Not For Profit (10)](https://info.machen.cpa/blog/topic/not-for-profit) - [Retirement Planning (9)](https://info.machen.cpa/blog/topic/retirement-planning) - [Estate Planning (8)](https://info.machen.cpa/blog/topic/estate-planning) - [Manufacturing Industry Insights (7)](https://info.machen.cpa/blog/topic/manufacturing-industry-insights) - [Individuals (1)](https://info.machen.cpa/blog/topic/individuals) - [Insider (1)](https://info.machen.cpa/blog/topic/insider) - [Professional Standard News (1)](https://info.machen.cpa/blog/topic/professional-standard-news) see all [![Returning\_Value](https://info.machen.cpa/hs-fs/file-2504250850-jpg/Machen-Blog-Image/Returning_Value.jpg)](http://machenmcchesney.com/about-us/mission-and-values/) - [![](https://info.machen.cpa/hs-fs/file-2486483166-jpg/Machen-Blog-Image/aicpa.jpg)](http://www.aicpa.org/Pages/default.aspx) - [![](https://info.machen.cpa/hs-fs/file-2494475845-jpg/Machen-Blog-Image/bdo.jpg)](http://www.bdo.com/alliance/) - [![](https://info.machen.cpa/hs-fs/file-2494475855-jpg/Machen-Blog-Image/nacva.jpg)](http://www.nacva.com/) - [![](https://machenmcchesney.com/img/readers-choice2019.jpg)](https://oanow.upickem.net/engine/Winners.aspx?contestid=104699) - [![actbf-1](https://info.machen.cpa/hs-fs/hubfs/actbf-1.jpg?width=121&name=actbf-1.jpg)](http://www.accountingtoday.com/) - [![pa400](https://info.machen.cpa/hs-fs/hubfs/pa400.jpg?width=121&name=pa400.jpg)](http://insidepublicaccounting.com/) 1820 East University Drive, Auburn, AL 36830 | Tel: (334) 887-7022 | Fax: (334) 887-7221 1761 Taliaferro Trail, Montgomery, AL 36117 | Tel: (334) 244-8900 | Fax: (334) 364-0927 - [LinkedIn](https://www.linkedin.com/company/675439?trk=tyah&trkInfo=idx%3A1-1-1%2CtarId%3A1424436970395%2Ctas%3Amachen+mcchesney) - [Facebook](https://www.facebook.com/machenmcchesney) - [Google](https://plus.google.com/101356546927388458481) - [Twitter](https://twitter.com/machenmcchesney) [Powered by Skoda Minotti Strategic Marketing](http://marketing.skodaminotti.com)