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 nonprofit organizations receive known as “gifts in kind.” Here are the details. Need for Change Gifts in kind can play an important role in ensuring a charity functions effectively. They […]

SBA Proposes Questionnaire for Large PPP Borrowers

The constantly-evolving landscape of the Paycheck Protection Program (PPP) takes another turn for borrowers with loans, together with their affiliates, with original principal amounts in excess of $2 million. In May 2020, the SBA issued FAQ #46 related to the required good-faith certification concerning the necessity of a borrower’s loan request. This FAQ provided a […]