01.26.23
Tips for Navigating a Tough Labor Market
Employers in all sectors are facing a tight job market. Open positions may remain empty for months, and some employees seem to have few qualms about jumping ship, due in part to changes in the work force’s expectations. But the situation does not have to be dire for savvy not-for-profits willing to adapt to the […]

11.28.22
Monitor Your Organization’s Vital Signs with KPIs and Financial Metrics
Whenever you go to a doctor’s office or hospital, one of the first things they do is check your vital signs (i.e., pulse, temperature and blood pressure). Numbers that are unusually high or low, or change over time, may indicate an underlying problem that needs to be addressed. For not-for-profit organizations, key performance indicators (KPIs) […]

09.26.22
Not-For-Profit News
Volunteer time increases to $29.95 per hour According to calculations performed by the University of Maryland’s Do Good Institute on behalf of the Independent Sector, the estimated national value of a volunteer hour has reached $29.95 per hour. The Do Good Institute, which is part of the university’s School of Public Policy, based the figure […]

03.09.23
Not-For-Profit Group Newsletter – Winter 2023
ORBA's Not-For-Profit Group's 2023 Winter Newsletter shares details of the continuing popularity of donor-advised funds and highlights strategies for how boards can increase their cybersecurity.

12.28.22
Not-For-Profit Group Newsletter – Fall 2022
ORBA's Not-For-Profit Group's 2022 Fall Newsletter highlights strategies for boosting employee retention and outlines the new accounting rules for reporting requirements regarding contributed nonfinancial assets, or gifts in-kind.

05.16.22
Not-For-Profit Group Newsletter – Spring 2022
ORBA's Not-For-Profit Newsletter examines how not-for-profits can achieve the greater financial stability that typically comes through diversification of revenue streams and highlights the revamped Public Service Loan Forgiveness (PSLF) program that is intended to provide debt relief to student borrowers who go into public service, including some not-for-profit employees.

09.08.22
What Not-For-Profits Need to Know About ASC 842 Leases
The Financial Accounting Standards Board’s (FASB) Accounting Standards Codification (ASC) 842, Leases, codifies significant changes to how lessees and lessors—including not-for-profit organizations—report and disclose lease obligations for fiscal years beginning after December 15, 2021. Is your organization prepared? Join ORBA Director Jim Quaid and ORBA Manager Kelly Buchheit in this complimentary webinar as they dive […]

05.18.22
The Financial Reporting Framework for Small- and Medium-Sized Entities: The GAAP Alternative for the Back Bone of America
As a banking professional, you’ve undoubtedly noticed that accounting principles generally accepted in the United States of America (US GAAP) has become increasingly complex in recent years, especially for the middle market companies who comprise the back bone of the US economy. With limited resources available to devote to the accounting function, software that does […]

04.20.21
Is Your Not-For-Profit Ready for the New Revenue Recognition Standards?
ASC 606 is effective for most organizations. Are you ready? ASC 606 deals with the reporting and disclosure of revenue recognition relating to contracts with customers (exchange transactions). For most not-for-profit organizations, the standards were originally effective in 2019 (or fiscal years ending in 2020). If your organization elected to defer the recognition of ASC […]

12.15.22
ORBA Named on America’s Best Tax and Accounting Firms 2023 List by Forbes
ORBA, one of Chicago’s largest public accounting firms, has been named on the Forbes list of America’s Best Tax and Accounting Firms 2023. This award is presented by Forbes and Statista Inc., the world-leading statistics portal and industry ranking provider.

12.15.22
ORBA Honored by the Chicago Tribune as a 2022 Top Workplace
CHICAGO — ORBA, one of Chicago’s largest public accounting firms, has been awarded a 2022 Top Workplaces honor by the Chicago Tribune. The award is based solely on employee feedback gathered through a third-party survey that is administered by employee engagement technology partner, Energage, LLC.

11.17.22
ORBA Ranks Among 2022 Largest Accounting Firms by Crain’s Chicago Business
ORBA, a full-service accounting, tax and business consulting firm, has been ranked as one of the largest accounting firms in Chicago, according to an annual survey published by Crain’s Chicago Business.

03.24.23
U.S. Supreme Court Rules Against the IRS on Critical FBAR Issue
The U.S. Supreme Court recently weighed in on an issue regarding a provision of the Bank Secrecy Act (BSA) that has split two federal courts of appeal. Its 5-4 ruling is welcome news for U.S. residents who “non-willfully” violate the law’s requirements for the reporting of certain foreign bank and financial accounts on what is generally known as an FBAR.

02.16.23
Reading the Tea Leaves: Potential Tax Legislation in the New Congress
The 2022 mid-term election has shifted the scales in Washington, D.C., with the Democrats no longer controlling both houses of Congress. While it remains to be seen if — and when — any tax-related legislation can muster the requisite bipartisan support, a review of certain provisions in existing laws may provide an indication of the many areas ripe for action in the next two years.

01.12.23
2023 Tax Calendar
To help you make sure that you do not miss any important 2023 deadlines, we have provided this summary of when various tax-related forms, payments and other actions are due. Please review the calendar and let us know if you have any questions about the deadlines or would like assistance in meeting them.

04.08.19
Various Media – ORBA Appoints Chief Financial Officer
ORBA is mentioned in the media for announcing the appointment of Cara Sample, CPA, as Chief Financial Officer of the firm. Reporting media include Yahoo! Finance, Spoke, The Daily Herald, NewsBlaze, Star Tribune and ABC 7. View the official press release.

04.04.19
Various Media – ORBA Ranked Among 2019 ‘Top Firms to Watch’ by Accounting Today
ORBA is mentioned in the media for being ranked among the “Beyond the Top 100: Firms to Watch” list for 2019, as well being listed among the top 20 firms in the Great Lakes Region.

01.10.19
Various Media – ORBA Launches ORBA Wealth Advisors
ORBA was mentioned in the media for its announcement of the launch of ORBA Wealth Advisors, LLC. Reporting media include Wealth Adviser, Verdict, Yahoo! Finance, the Daily Herald and Merril Edge. View the official press release.

12.15.22
ORBA Named on America’s Best Tax and Accounting Firms 2023 List by Forbes
ORBA, one of Chicago’s largest public accounting firms, has been named on the Forbes list of America’s Best Tax and Accounting Firms 2023. This award is presented by Forbes and Statista Inc., the world-leading statistics portal and industry ranking provider.

12.15.22
ORBA Honored by the Chicago Tribune as a 2022 Top Workplace
CHICAGO — ORBA, one of Chicago’s largest public accounting firms, has been awarded a 2022 Top Workplaces honor by the Chicago Tribune. The award is based solely on employee feedback gathered through a third-party survey that is administered by employee engagement technology partner, Energage, LLC.

11.17.22
ORBA Ranks Among 2022 Largest Accounting Firms by Crain’s Chicago Business
ORBA, a full-service accounting, tax and business consulting firm, has been ranked as one of the largest accounting firms in Chicago, according to an annual survey published by Crain’s Chicago Business.