Clifton Gunderson LLP - A nationwide firm of Certified Public Accountants and Consultants

February 2012

Posted February 10, 2012

In this Issue:

Computer Upgrades Extend Form 990 Filing Period
Upgrades to the IRS's Modernized e-File (MEF) system mean some nonprofits will get more time to file Form 990.

Financial Reporting Changes Coming for Nonprofits
It's been nearly 20 years since there were significant changes to financial reporting standards for nonprofit organizations. But change is on the horizon after the Financial Accounting Standards Board (FASB) announced a new standard-setting project and a research project intended to improve financial reporting.

Six Risk Issues for Nonprofit Executives
A conversation with Melanie Lockwood Herman, executive director of the Nonprofit Risk Management Center, on risks she sees in today's nonprofit sector.