Blog

Performance Measurement: Board Member Volunteer Hours

By |2018-10-11T10:54:01+00:00October 11th, 2018|Board, Donation, Nonprofit, Performance Measurement, Volunteer|

This week’s segment of the Performance Measurement video series, Ross Van Laar, provides an overview of Nonprofit Board Member Volunteer Hours.

10 Reasons for Your Nonprofit to Develop a Succession Plan

By |2018-10-11T11:20:03+00:00October 8th, 2018|Goals, Nonprofit, Preparation, Succession Planning|

Succession planning is a huge topic in business right now and at TDT we repeatedly talk about it with our for-profit clients. Record numbers of nonprofit executives are preparing for their retirement, making this topic incredibly important and timely. For many nonprofit organizations, conversations regarding succession planning are past due, putting the organization at risk. [...]

Planning For Your Succession? Ask Yourself These 6 Questions

By |2018-10-11T11:45:09+00:00September 26th, 2018|Business Valuation, Preparation, Retirement, Succession Planning, Value|

A captain doesn’t decide on a whim that he or she is going to sail around the world tomorrow. The voyage will take proper planning, appropriate resources, and a skilled co-captain. The same can be said for succession planning. Business owners, like captains, must plan and consider many variables before selling or transitioning their business [...]

4 Areas to Consider When Planning Your Next Capital Campaign

By |2018-09-19T14:25:57+00:00September 24th, 2018|Budget, Donation, Gifts, Nonprofit, Preparation|

Many organizations gear up every few years for a capital campaign with the purpose of raising money to acquire or improve a physical asset. A capital campaign can be useful to organizations as donors are drawn to what they can see and feel. As you’re planning and executing your next capital campaign, keep these four [...]

Divorce Can Hurt – A Case Study in the Tax Consequences

By |2018-09-19T14:19:14+00:00September 19th, 2018|Cash Flow, Litigation Support, Tips|

When I was a kid, my dad said something that has stuck with me throughout my life. Considering I grew up to be a CPA, the irony of his statement isn’t lost on me... He said, “Son, there are only two definite things we must do in this world, pay taxes and die.” The takeaway [...]

Changes to Financial Statements for Nonprofit Entities, Are You Ready?

By |2018-09-19T12:37:53+00:00September 19th, 2018|Accounting, Change, Nonprofit|

FASB’s Not-for-Profit Advisory Committee determined that existing standards for financial statements of Not-for-Profit entities could be improved to provide more useful information to donors, grantors, creditors, and other users. The update is effective for years beginning after December 15, 2017. If your organization has a calendar year-end, you’ll be required to present financial statements under [...]

3 Steps in Creating Your Succession Plan

By |2018-09-14T12:39:24+00:00September 14th, 2018|Goals, Preparation, Succession Planning|

Finding time and enough resources to commit towards a multi-step, multi-year succession plan, while managing the controlled chaos of running a business can be daunting. When time is the most precious resource we have, spending it thinking about how to get out of a business we spent our lives getting into seems illogical. However, those [...]

Preventing and Detecting Fraud Through Effective and Practical Internal Controls

By |2018-09-07T09:16:14+00:00September 6th, 2018|Board, Fraud, Nonprofit, Tips|

Dan Montgomery, CPA, provides some insight in preventing and detecting fraud through effective and practical internal controls for our Nonprofit Video Series.

Choosing the Right Accounting Method for Tax Purposes

By |2018-08-31T10:05:14+00:00August 31st, 2018|Accounting, Cash Flow, Change, IRS, Tax Planning, Tax Reform|

The Tax Cuts and Jobs Act (TCJA) liberalized the eligibility rules for using the cash method of accounting, making this method, which is simpler than the accrual method, available to more businesses. Now the IRS has provided procedures a small business taxpayer can use to obtain automatic consent to change its method of accounting under [...]