In a recent article, Accounting Management Solutions (AMS) offers advice to CDCs expecting donations through the CITC program. According to AMS, organizations should be careful not to count the tax credits themselves as revenue. Until an organization receives a contribution for which tax credits are issued to the donor(s), the revenue is still considered conditional; once a donor exchanges their donation for the tax credits, then revenue can be recognized and counted. To read the full AMS article, click here.
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