Certified Public Accountants
& Business Consultants 

As competition has increased in attracting donor funding, many not-for-profit organizations have looked to create separate partnerships and ventures in order to better serve their constituents. When these new entities are created, organizations must evaluate whether generally accepted accounting principles require these entities to be consolidated for financial statement presentation. Whether a not-for-profit should consolidate a related entity depends on two factors: economic interest and control.

Venture capital (“VC”) investment experienced pull back in the third quarter, following an exceptional second quarter and a robust first half of 2014. According to the PricewaterhouseCoopers / National Venture Capital Association MoneyTree™ Report, VC activity in the United States decreased about 24% in the third quarter to $9.9 billion, down from $13.0 billion in the second quarter.

Each person engaged in a trade or business that, in the course of that trade or business, receives more than $10,000 in cash in one transaction or in two or more related transactions, must file Form 8300. 

A new Illinois law prohibits employers from inquiring into a prospective employee’s criminal background on its application or during the early stages of application review.
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