A donor advised fund (DAF) is a philanthropic vehicle that individuals, families and organizations use to manage and streamline charitable giving. The greatest benefit of a DAF is simplicity and flexibility — donors contribute to a DAF and receive an immediate tax deduction for the donation. The funds are then held in the DAF account under a sponsoring organization (s [...]

Audit committee members have many aspects to consider when reviewing their nonprofit organizations’ financial statements. For some, this may be the first time they have had to closely review a set of financials, or possibly the first time they have had to navigate the nonprofit financial statement format. While all aspects of the financial statements and relate [...]

Nonprofit organizations play a crucial role in addressing societal challenges, building communities and driving positive change, which was never more apparent than during the COVID-19 pandemic. With the pandemic in the rearview mirror and an increasingly competitive landscape, nonprofits must adopt strategic thinking and embrace innovative approaches to ensure their l [...]

With the advent of artificial intelligence (AI) and Big Data, there is now more data than ever to be utilized in the decision-making process. This raises an important question: How should private foundations and other funders leverage their data and data analytics techniques in this dynamic philanthropic landscape to better understand their investing and grantmaking a [...]

The M&A market experienced an exceptional boom in 2021-2022, with robust activity and record-breaking deal flow in the wake of the COVID-19 pandemic. However, in late 2022 and moving into 2023, the market has cooled. GHJ’s Transaction Advisory Services Practice is now seeing scarcer, more expensive capital, increased scrutiny from potential buyers and advisors and lon [...]

ASU 2016-13 is currently effective and requires private companies and nonprofits to adopt the current expected credit loss model (CECL) this fiscal year. The extensive scope of the standard, which covers cash equivalents, accounts receivable, loans, debt securities and other financial assets, underscores the urgency for prompt evaluation and implementation to ensure c [...]

Temporary staffing is often misunderstood by job seekers, but it can actually offer a range of benefits for those who are looking for short-term work or want to explore different industries and roles before committing to a single career path. It can also be a great option for those who prefer project-based work with multiple clients. WHAT IS TEMPORARY STAFFING? In [...]

What unique production tax benefits does the UK provide for the entertainment industry? On this episode of the Media Clips Podcast, Host and GHJ Profit Participation Services Practice Leader Ilan Haimoff is joined by FLB Director of Creative Sector Tax Reliefs Lloyd Gunton. An expert in accessing and maximizing UK creative sector tax reliefs, Lloyd shares the var [...]

To improve the Commonwealth’s competitiveness, affordability and equity, Massachusetts Governor Maura Healey signed the Massachusetts Tax Relief Bill into law on October 4, 2023. The bill (H.4104) includes a wide range of tax changes aimed at providing relief to families, businesses and individuals throughout the state. This tax alert discusses the details of the ta [...]

After many months of difficult negotiations between the guilds on the one side and studios and streamers on the other, the film and television industry can finally get back to business as the SAG-AFTRA strike reaches a tentative agreement. From this new deal, and the WGA separate deal, contracts should see meaningful gains and protections as well as better compensatio [...]