In the News

Copyright 2018
In one not-for-profit article, we described why your organization needs to keep accurate records and how a good recordkeeping system can help prove that you are complying with various laws.
Copyright 2018
Think of your not-for-profit organization and its external auditor as dance partners performing a well-choreographed routine. To execute the dance properly, each dancer must complete specific moves and coordinate timing with his or her partner. Likewise, your organization and its audit firm each have particular duties in the audit process but share the same end goal: a set of financial statements that fairly present your financial condition and operating results.
Copyright 2018

This is one of those Believe It or Not stories: Years ago, a charity generated solicitation letters from a computerized database. One letter addressed to a state Humane Society stated: "Dear Miss Society."

Copyright 2018
Not-for-profit organizations often struggle with valuing non-cash and in-kind donations, including the value of houses and other real estate.
Copyright 2018
Maintaining detailed time records for staff may not be your favorite task. Unfortunately, it's not negotiable. Timekeeping — for volunteers and individuals paid for their work — is necessary for most not-for-profit organizations. However, there are ways to make the job less onerous.
Copyright 2018
Does your organization have a succession plan in place? And, if it does, is it well documented? Some not-for-profits delay detailed succession planning, thinking of it as a project they'll get to "someday." But that's a mistake.
Copyright 2018

If your not-for-profit organization expects its board members to play a fundraising role, you probably already know how difficult it can be to motivate them. They're busy people, and even when they have excellent connections, they're not always comfortable asking those in their network for money — however noble the cause.

Copyright 2018

So you think investment policies are only for not-for-profits with millions to invest? Not true. If your organization holds funds in reserve — for example, to cover emergencies or meet long-term goals — it's prudent to have investment policies.

Copyright 2018
With salaries on a plateau or rising only slightly at most not-for-profit organizations, employers should be alert to other ways to give their employees a financial break. Having an accountable plan for business expense reimbursement is one way to save your employees some money.
Copyright 2018
A not-for-profit organization needs insurance to protect its directors and officers from personal liability in the event of a lawsuit.

Pages