codeblue123
Level 3
05-22-2021
07:16 PM
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How do you know if your 990 client checks box that they follow SFAS 117 (ASC 958)? This on form 990 part X lines 27-33. The non profit is not audited.
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qbteachmt
Level 15
05-22-2021
10:05 PM
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A few things would reveal this to you.
Examine the prior 990.
The Board should know.
There might be grants or other contracts where they signed off that they would do this.
There might not be audits, but what about financial statements? "Agreed upon procedures?" Who else do they report to for financial purposes?
Do they have Fund Accounting or are they a single-purpose entity?
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