Wei Wei & Co

2 min read

Form 990 Review: What Nonprofit Boards Should Look For

Many in the nonprofit world know Form 990 as the all-important nonprofit tax form that details an organization’s activities and financial standing. In addition to justifying an organization’s tax-exempt status, Form 990 reveals key information that...

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2 min read

Are Your Processes Innovative or Merely Electronic? Leverage Technology the Right Way

Decades of innovation have transformed the finance office from a mindset of processing transactions to one of strategic financial management. But...

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1 min read

The Evolving Role of CFOs in Driving ESG Initiatives

According to BDO Middle Market CFO Outlook Survey, 64% of chief financial officers (CFOs) believe environmental, social and governance (ESG) adoption...

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4 min read

GASB Implementation Guide No. 2023-1, Implementation Guidance Update-2023

On July 10, 2023, the Governmental Accounting Standards Board issued Implementation Guide No. 2023-1, Implementation Guidance Update-2023...

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3 min read

The IRS Weighs in on Nonprofit NIL Collectives

The IRS on June 9, 2023, released generic legal advice memorandum AM 2023-004,[1] which addresses whether developing paid name, image and likeness...

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2 min read

Cash Benefits for Supporting ESG - New Markets Tax Credit

With an increasing focus on environmental, social and governance (ESG) issues, some organizations are seeking ways to fund various ESG initiatives....

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3 min read

Entity’s Debt Is Not Modified Upon Conversion to Corporation, IRS Rules

In a recent private letter ruling (PLR 202337007), the IRS ruled that a taxpayer’s proposed transaction that would convert a limited liability...

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6 min read

Treasury Issues Proposed Regulations Under Section 367(b)

The Treasury Department and the IRS on October 5 issued proposed regulations providing guidance under Internal Revenue Code Section 367(b) related to...

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3 min read

Best Practices in Subrecipient Risk Assessments and Monitoring for Federal Grant Recipients

Subrecipient risk assessments and monitoring are critical aspects of federal grants management. These practices ensure that funds are used in...

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3 min read

Data Quality for Nonprofits

Data quality is a critical factor for organizations of all sizes, and nonprofits are no exception. Poor data quality can lead to inaccurate business...

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