Not-for-Profit Focus: We believe both preparers and auditors would benefit from more discussion regarding areas where generally accepted accounting principles offer acceptable choices that may not be well understood by current financial management.
Over the past few years, digital currency has earned the reputation for being the easiest and most efficient way to move money across international borders. Experts say the ability to accelerate the flow of money at a reduced cost, along with the fear of surveillance and the impact of war on the local currency are the primary reasons why Ukrainian government officials recently began requesting donations in cryptocurrency.
We recently received a question from a client regarding who should participate in executive sessions of the board. While we answered based on our experiences with the boards of many different organizations, the question prompted our own deeper dive into some of the available literature on board (and board committee) executive sessions. That research drove our decision to share some thoughts on executive sessions in this issue of Not-for-Profit Focus.
While many of us have tried to grab some vacation time this summer, two of the leading voices focused on the NFP sector issued important reports. BoardSource released its June 2021 Leading with Intent: BoardSource Index of Nonprofit Board Practices, and Independent Sector issued Trust in Civil Society: Understanding the factors driving trust in nonprofits and philanthropy. A brief discussion on each of these reports, including excerpted key findings, follows but we encourage you to access the full reports to identify the data most relevant to your organizations.
This session will help financial statement preparers and auditors who advise NFP clients with respect to external financial reporting.
It is not often that articles about accounting contain hyperbole, but some recent reports on PPP loans have included what might be called overly zealous warnings that nonprofits taking advantage of this stimulus opportunity
However, as it turns out, not-for-profits (NFPs) didn’t have to change everything; COVID-19 took care of that for them. The emergence of a global pandemic gives even more urgency to that original headline.
According to the 21st annual Forbes Top Charities list, which ranks the largest U.S. charities based on private donations received, “The 100 largest charities pulled in $51.5 billion in donations,” which “represents 12% of all charitable co
Top executives at nonprofits that rely on donations, and their CFOs, know that in terms of funding and expenditures, accounting for a nonprofit is a bit of a catch-22. That is, a nonprofit must expend money on its programs – the reason it e
Did you miss the LIBN's State of the Not-For-Profit Industry virtual conference? Watch Moderator Brian D. Sacskstein and a panel of industry experts discuss the achievements, challenges and the future of the not-for-profit sector
The coronavirus pandemic has created a massive shift in the daily operations of all nonprofit organizations globally. If your mission is not directly related to the pandemic relief it may be challenging to convince your donors that your
Originally published by Long Island Business News Profit. When we hear the word profit, we think of Wall Street, shareholders, stocks, global conglomerates, and billionaire CEOs; we don’t conjure up the image of a not-for-profit organization helping provide services to the community.
