In this issue…
- 2018 Washington Disclose Act: Jay Inslee signed the 2018 DISCLOSE Act into law earlier this year. This law, which is effective January 1st, 2019, aims to enhance transparency, so that Washington voters will have access to information about who is trying to influence their vote.
- FASB Issues New Accounting Rules for Contributions and Grants: Accounting for contributions and grants has often proven complicated for nonprofits, especially when they come with donor-imposed conditions. Now the Financial Accounting Standards Board (FASB) has provided some much-needed clarification with Accounting Standards Update (ASU) No. 2018-08, Not-for-Profit Entities (Topic 958): Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made.
- Nonprofits Largely Lack Succession Plans:A new study raises a big red flag for nonprofits. Researchers found that, although 67% of nonprofit leaders surveyed plan to leave their positions within the next five years, 78% of organizations lack formal succession plans.
- Paid Family Medical Leave: Paid Family and Medical Leave is transitioning to a state-run insurance program, and starting January 1, 2019, employers and employees in Washington will begin paying premiums for paid family and medical leave.
Read more here: Profitable Solutions for Nonprofits January 2019