Iryna Oreshkova, CPA

Nonprofit audit, accounting & Form 990

[Iryna Oreshkova, CPA @IrynaCPA]

We specialize in nonprofit audit, accounting, and Form 990 reporting.

We also publish educational content through our “Nonprofit Auditor’s Points” series covering nonprofit governance, compliance, and financial reporting topics.

Watch our latest videos here:
https://t.co/Br8HAD61cI

[Iryna Oreshkova, CPA @IrynaCPA]

Revenue recognition affects more than accounting entries.

It influences how boards interpret financial statements, how grant activity appears publicly, and how organizations explain financial results to stakeholders.

[Iryna Oreshkova, CPA @IrynaCPA]

Multi-year unconditional grants are generally recognized when awarded, not when cash is received over future years.

That timing difference can significantly affect nonprofit financial statements and year-to-year revenue trends.

[Iryna Oreshkova, CPA @IrynaCPA]

Schedule L and related organization reporting are areas where nonprofit boards sometimes discover unexpected disclosure requirements.

Our Form 990 NAP series discusses governance, insider transactions, and how these relationships are viewed in public reporting.

https://t.co/Stlxa2w42r

[Iryna Oreshkova, CPA @IrynaCPA]

Two nonprofit organizations are not automatically “related organizations” simply because they share the same executive director.

For Form 990 purposes, related organization analysis is often based on control relationships and board overlap.

[Iryna Oreshkova, CPA @IrynaCPA]

In-kind contributions can affect both revenue and expense presentation in nonprofit financial statements.

Donated services, rent, supplies, and equipment may all require different accounting treatment depending on the circumstances.

[Iryna Oreshkova, CPA @IrynaCPA]

General volunteer time is incredibly valuable to nonprofits.

However, under GAAP, most volunteer services are not recognized in financial statements unless specific recognition criteria are met.

That difference often surprises board members and management.

[Iryna Oreshkova, CPA @IrynaCPA]

Conditional and unconditional grants are often misunderstood.

In our latest NAP episodes, we discuss barriers, rights of return, and why the wording of grant agreements can significantly affect revenue recognition timing.

https://t.co/d9juYotA6g

[Iryna Oreshkova, CPA @IrynaCPA]

Many grant agreements sound restrictive but are not actually conditional under GAAP.

A true condition generally requires BOTH:

a barrier that must be overcome
and a right of return or release

Careful reading of grant language matters.

[Iryna Oreshkova, CPA @IrynaCPA]

Nonprofit revenue is not all treated the same way.

Some transactions are exchange revenue under ASC 606.
Others are contributions under ASC 958-605.
Our current NAP series walks through the practical framework nonprofits use to evaluate grants, donations, and earned revenue.

https://t.co/TJhngXXnZs

[Iryna Oreshkova, CPA @IrynaCPA]

A donor restriction does not delay revenue recognition.

Restrictions affect classification.
Conditions affect timing.
Understanding that distinction is one of the most important concepts in nonprofit revenue recognition.

[Iryna Oreshkova, CPA @IrynaCPA]

Part VI of Form 990 focuses heavily on governance and oversight.

Board structure, independence, documented meetings, and governance policies all contribute to how the organization presents itself publicly.

In our NAP series, we discuss common misconceptions surrounding nonprofit governance reporting.

https://t.co/WW5KAHnILr

[Iryna Oreshkova, CPA @IrynaCPA]

Board independence on Form 990 is based on IRS criteria, not personal opinions about ethics or objectivity.

Employment relationships, compensation, and certain business transactions may affect whether a board member is considered independent for reporting purposes.

[Iryna Oreshkova, CPA @IrynaCPA]

Mission and program accomplishment sections are often the first narrative areas readers review on Form 990.

Clear descriptions help donors, grantmakers, and board members understand what the organization actually accomplished during the year.

Our NAP series discusses how these sections shape public perception and transparency.

https://t.co/O6GulYmftc

[Iryna Oreshkova, CPA @IrynaCPA]

A strong Form 990 program description should explain what actually happened during the reporting year.

Not just the mission.
Not future goals.
Not generic language.
Readers want to understand what the organization accomplished during that specific year.

[Iryna Oreshkova, CPA @IrynaCPA]

Many nonprofit boards do not realize that Form 990 is a public document.

Donors, grantmakers, regulators, journalists, and watchdog organizations may all review it.

For many organizations, Form 990 becomes part of the public narrative about governance, transparency, and accountability.

[Iryna Oreshkova, CPA @IrynaCPA]

Form 990 is more than a tax filing.

It is also a public-facing governance and reporting document that may be reviewed by donors, regulators, and grantmakers.

In our “Form 990 Essentials for Nonprofits” series, we discuss how nonprofit boards and management can better understand what Form 990 communicates to outside readers.

Watch here: https://t.co/vHzeRfO5rS