Nonprofit Resources

FASB Issues Exposure Draft Regarding Contributed Non-Financial Assets for Not-for-Profits
FASB Issues Exposure Draft Regarding Contributed Non-Financial Assets for Not-for-Profits 150 150 SAX - Advisory, Audit and Accounting

In February 2020, the FASB proposed an update to improve generally accepted accounting principles (GAAP) by increasing the transparency of contributed non-financial assets for not-for-profit (NFP) entities through enhancements to…

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Sax Gifts $15,000 to the Not-for-Profit, NJ Sharing Network through the 3rd Annual Founders’ Award
Sax Gifts $15,000 to the Not-for-Profit, NJ Sharing Network through the 3rd Annual Founders’ Award 150 150 SAX - Advisory, Audit and Accounting

Top 100 accounting, tax and business advisory leader, SAX, is proud to announce the winner of the firm’s 3rd Annual Founders’ Award – NJ Sharing Network – for best demonstrating their impact on their beneficiaries.

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IRS Makes Update to Private School Nondiscrimination Policy Disclosure Requirement
IRS Makes Update to Private School Nondiscrimination Policy Disclosure Requirement 150 150 SAX - Advisory, Audit and Accounting

The IRS has released Revenue Procedure 2019-22 which adds a third method for private schools to disclose its racially nondiscriminatory policy. For a private school to be recognized as exempt…

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Nonprofit Organizations – Is Your Procurement Policy Meeting Compliance Standards?
Nonprofit Organizations – Is Your Procurement Policy Meeting Compliance Standards? 150 150 SAX - Advisory, Audit and Accounting

Procurement and the purchasing process are much more than just having a policy in place for nonprofits. It is important to review the procurement section of the Uniform Guidance in detail to ensure you comply.

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SAX’s Founder’s Award Gifted $15,000 to the Nonprofit, Oasis – A Haven for Women and Children, for Efforts Towards Inspiration
SAX’s Founder’s Award Gifted $15,000 to the Nonprofit, Oasis – A Haven for Women and Children, for Efforts Towards Inspiration 150 150 SAX - Advisory, Audit and Accounting

Clifton, NJ – February 13, 2019:   SAX, a leading accounting, tax and advisory firm recently held its second annual Founder’s Award ceremony which celebrated the good work of local nonprofits…

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Accounting Rule Change Will Result in More Contributions for Not-for-Profits
Accounting Rule Change Will Result in More Contributions for Not-for-Profits 150 150 SAX - Advisory, Audit and Accounting

In response to widespread diversity on how not-for-profits characterize grants and similar contracts as either exchange transactions or contributions with conditions, the Financial Accounting Standards Board (FASB) has issued new…

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Tax Reform Impact: Not-for-Profits Not Always Tax-Exempt
Tax Reform Impact: Not-for-Profits Not Always Tax-Exempt 150 150 SAX - Advisory, Audit and Accounting

If you thought the Tax Cuts and Jobs Act would not impact most tax-exempt organizations, you were wrong.  There are new provisions in place which can cause 501(c)(3), (4), 501(d)…

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Hear from the Professionals on June 28: How Tax Reform Will Impact Nonprofit Organizations
Hear from the Professionals on June 28: How Tax Reform Will Impact Nonprofit Organizations 150 150 SAX - Advisory, Audit and Accounting

Marking the largest overhaul of a United States tax policy in years, the Tax Cuts and Jobs Act (the “Act”) was signed into law on December 22, 2017. There are…

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Tax Alert: The IRS Releases Updated Withholding Calculator to Account for New Tax Changes
Tax Alert: The IRS Releases Updated Withholding Calculator to Account for New Tax Changes 150 150 SAX - Advisory, Audit and Accounting

The IRS has recently released a Withholding Calculator designed to identify how many withholding allowances you should claim in 2018. This tool takes the new tax law changes into account…

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ROI-NJ: Accounting firms find some high-wealth clients will come out ahead despite loss of property tax deduction
ROI-NJ: Accounting firms find some high-wealth clients will come out ahead despite loss of property tax deduction 150 150 SAX - Advisory, Audit and Accounting

Shivani Jain, Sax Partner and Tax Leader, shared her expertise with ROI-NJ on the new tax law and the impact it has on high-net-worth individuals and families. The new changes…

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