The Foraker Group

The Office of Management and Budget (OMB) and the Council on Financial Assistance Reform (COFAR) released new regulations scheduled to take effect on December 26, 2014 that will have a significant impact on nonprofits. While the results promise to be positive for nonprofits, the regulations will require changes in the way grants and contracts are managed when federal grant funds are involved. Please click here for review from the Council on the new regulations.