Organizations looking to expand their programs sometimes need to obtain bank financing for large projects such as the acquisition of a building. Depending upon the financing received, collateral is often a necessary piece of closing the deal. For organizations with large endowments, the question may come up as to whether the organization may use the [...]
Previously in “Changes to Financial Statements for Not-for-Profit Entities, Are You Ready?”, we provided an overview of the changes for nonprofit financial statements. Now we will take a closer look at the new net asset presentation and disclosures your organization will face, beginning with your December 31, 2018 financial statements. If you missed our previous [...]
For those of you that go through an audit each year, you know how costly and time consuming they can be. You may have wondered, “Do I really need an audit? Is there something else that I can do to satisfy my financial reporting requirements?” To accurately answer those questions, you first need to understand [...]
It’s no secret that nonprofit organizations come in a variety of shapes and sizes. Likewise, the structure of their boards are made up of various shapes and sizes. As a board member, it's important to understand what your role is in providing service to the organization. Especially for organizations without paid staff, board members are [...]
Previously in “Changes to Financial Statements for Not-for-Profit Entities, Are You Ready?” we provided information on the changes to net asset presentation and underwater endowments under the new financial statement presentation standard. Now we will address the new presentation and disclosure items related to liquidity and availability disclosures, functional expenses, investment expenses, and the statement [...]
This week’s segment of the Performance Measurement video series, Ross Van Laar, CPA, provides an overview of Nonprofit Board Member Volunteer Hours.
Dan Montgomery, CPA, provides some insight in preventing and detecting fraud through effective and practical internal controls for our Nonprofit Video Series.
Glen Swanson, CPA and TDT Assurance Manager, provides an overview of the legal obligations for agreeing to serve on a nonprofit’s board. Glen specializes in audits of nonprofit organizations, family-owned businesses, and employee benefit plans and has more than 10 years of experience in public accounting. When agreeing to serve on the board of a [...]
Dan Montgomery, CPA, provides this week's session of the Performance Measurement video series on the topic of the Average Board Member Gift.
Glen Swanson, CPA, provides this week's session of the Performance Measurement video series topic of Percentage of Board Members Giving.