Does anyone actually read footnotes? If they’re financial statement footnotes, the answer is usually “yes.” Footnotes can provide donors, governmental supporters and other stakeholders with critical information about your not-for-profit.

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So it’s important to work with your CPA to make sure your footnotes are accurate and thorough.


Continue Reading How to Disclose NFP Financial Information with Footnotes

The Securities and Exchange Commission (“SEC”) recently issued Final Rulemaking Release No. 33-10825, “Modernization of Regulation S-K Items 101, 103, and 105,” which amends Regulation S-K disclosure Items:

  • 101, “Description of Business,
  • 103, “Legal Proceedings,” and
  • 105, “Risk Factors.”

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These amendments, which are part of the SEC’s broader Disclosure Effectiveness Initiative, reflect changes that have occurred in the capital markets and the availability of information and aim to improve the information content of those items and to simplify compliance for registrants.

The main amendments to Regulation S-K from Release No. 33-10825 are as follows:


Continue Reading Amendments to Regulation S-K Help Simplify Disclosure Compliance