Maxwell Locke & Ritter recently hosted a webinar designed specifically for nonprofit leaders, finance teams, and advisors. The session provided timely insights into the recently signed One Big Beautiful Bill Act (OBBBA) and offered a practical refresher on several important FASB standards that directly impact nonprofit organizations.
Our team of nonprofit accounting and tax experts walked attendees through both legislative changes and accounting best practices, giving participants actionable guidance to strengthen compliance, improve transparency, and prepare for the months ahead.
Tax Changes Under the OBBBA
The webinar opened with a breakdown of how the new legislation affects nonprofit organizations. Our experts highlighted what has changed, what remains the same, and the proactive steps nonprofit leaders should take now to stay compliant and prepared.
FASB Standards Refresher
Following the tax update, the session shifted to a refresher on key FASB standards. Topics included:
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Conditional vs. Unconditional Contributions – Clear guidance on proper classification and supporting documentation.
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Tracking Temporary Restrictions & Releases – Best practices for maintaining transparency and ensuring compliance.
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In-Kind Contribution Estimates – A quick overview of current expectations and valuation considerations.
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Functional Allocation of Expenses – Tips for accurate, consistent, and supportable reporting.
Moving Forward
With nonprofits facing evolving regulations and reporting expectations, staying current on both tax and accounting standards is essential. This webinar reinforced Maxwell Locke & Ritter’s commitment to helping nonprofit organizations navigate complexity with confidence and clarity.
Want to revisit the key takeaways? You can download the full slide deck from the presentation below.
