08.23.23
Not-For-Profit Employment Returns to Pre-COVID-19 Levels
Three years after the COVID-19 pandemic hit the United States, not-for-profit organizations appear to be in a significantly better place in terms of overall employment than they were at the end of 2021, according to the Nonprofit Employment Data Project at George Mason University. It reports that the industry lost about 1.64 million jobs as […]

07.20.23
Charge It! Credit Card Issues for Not-For-Profits
Credit cards are a common part of doing day-to-day business for most not-for-profits these days. Donors typically use credit cards to make contributions, whether one-offs or recurring, and employees often rely on the cards when procuring supplies and services or traveling on behalf of their organizations. Some not-for-profits have, or have considered, so-called “affinity cards” […]

05.16.23
Tasks for a Successful Not-for-Profit Finance Committee
A not-for-profit’s finance committee oversees and keeps its board of directors apprised of the organization’s overall financial health. This should be more than simply scanning financial reports. An active finance committee is crucial to maintain a not-for-profit’s health and reputation. The success of your finance committee depends on your board, staff and committee members understanding […]

09.27.23
Not-For-Profit Group Newsletter – Summer 2023
ORBA's Not-For-Profit Group's 2023 Summer Newsletter highlights what not-for-profits should do in order to protect themselves from potential fraud and scams through good internal controls and cybersecurity practices.

06.15.23
Not-For-Profit Group Newsletter – Spring 2023
ORBA's Not-For-Profit Group's 2023 Spring Newsletter highlights what steps not-for-profit organizations should take in order to prepare for a possible ERC audit and reviews what factors they should consider once their board meets the state's size requirement.

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.

08.09.23
What Not-For-Profits Need to Know About Implementing 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 ended December 31, 2022 and thereafter. Is your organization prepared? Join ORBA Director Jim Quaid and ORBA Audit Manager Barbara Miller for a complimentary webinar as they dive into the […]

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 […]

09.01.23
ORBA Welcomes Tina Chen as Director of Human Resources
ORBA, one of Chicago’s largest public accounting firms, is pleased to announce the appointment of Tina Chen as its new Director of Human Resources.

08.30.23
ORBA Promotes Kelly Buchheit and Kevin Omahen to Directors
ORBA, one of Chicago’s largest public accounting firms, is pleased to announce that Kelly Buchheit, CPA and Kevin Omahen, CPA have been promoted to Directors effective August 1.

07.17.23
ORBA Welcomes New Hires to Audit Group, Tax Group and Marketing Department
CHICAGO — ORBA, one of Chicago’s largest public accounting firms, is pleased to announce that Carrie Hale, Tommy Nguyen and Kaleb Spreitzer have joined the firm’s Tax and Audit Groups, while Stephanie Becker has joined the firm’s Marketing Department.

09.20.23
IRS suspends processing of ERC claims
In the face of a flood of illegitimate claims for the Employee Retention Tax Credit (ERC), the IRS has imposed an immediate moratorium through at least the end of 2023 on processing new claims for the credit. The reason the IRS cites for the move is the risk of honest small business owners being scammed by unscrupulous promoters who submit questionable claims on their behalf.

09.19.23
IRS Issues Guidance on New Retirement Catch-Up Contribution Rules
In December 2022, President Biden signed the Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act. Among other things, the sweeping new law made some significant changes to so-called catch-up contributions, with implications for both employers and employees.

09.18.23
Tax Relief for Hurricane Idalia Victims
The IRS postponed deadlines to file various individual and business tax returns and make tax payments for taxpayers affected by Hurricane Idalia in Florida and in South Carolina. Affected individuals and businesses in Florida will have until February 15, 2024 to file returns and pay any taxes that were originally due after August 26, 2023 in Florida and August 29, 2023 in South Carolina.

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.

09.01.23
ORBA Welcomes Tina Chen as Director of Human Resources
ORBA, one of Chicago’s largest public accounting firms, is pleased to announce the appointment of Tina Chen as its new Director of Human Resources.

08.30.23
ORBA Promotes Kelly Buchheit and Kevin Omahen to Directors
ORBA, one of Chicago’s largest public accounting firms, is pleased to announce that Kelly Buchheit, CPA and Kevin Omahen, CPA have been promoted to Directors effective August 1.

07.17.23
ORBA Welcomes New Hires to Audit Group, Tax Group and Marketing Department
CHICAGO — ORBA, one of Chicago’s largest public accounting firms, is pleased to announce that Carrie Hale, Tommy Nguyen and Kaleb Spreitzer have joined the firm’s Tax and Audit Groups, while Stephanie Becker has joined the firm’s Marketing Department.