Budget

Developing Relevant Performance Metrics in Nonprofit Organizations

By |2019-12-04T15:15:07-06:00November 27th, 2019|Assurance, Board, Budget, Nonprofit, Records|

Nearly every nonprofit organization in existence can confidently state that their board of directors reviews and approves financial reports (generally the statement of financial position, statement of activities, and often a cash flow statement) at each meeting. However, many boards are missing out on a valuable opportunity in gathering important information to assist with [...]

Setting the Record Straight – Overhead Costs Are Essential for Sustainability and Growth

By |2019-12-09T13:08:31-06:00November 21st, 2019|Assurance, Budget, FASB, Nonprofit|

Being honest and transparent about overhead costs (i.e., Management & General, Fundraising, etc.) is vital in educating stakeholders on the cost of delivering services. Many people think of overhead as a negative part of doing business, thinking it is something to be minimized in order to maximize something (such as profits or other measurables). [...]

3 Alternative Engagements to an Audit

By |2019-12-09T13:12:09-06:00August 15th, 2019|Assurance, Board, Budget, Compliance, Nonprofit|

Last quarter, I discussed what an audit accomplishes and what it does not accomplish in my article titled “Do You Really Need An Audit?” In that article, I introduced the idea that an audit may not be right for every organization, especially if resources are tight, as audits can be costly. Below, I discuss [...]

Can I Use My Endowment As Collateral?

By |2019-12-09T13:23:50-06:00March 13th, 2019|Assurance, Board, Budget, Cash Flow, Gifts, Nonprofit|

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 [...]

Here They Are…More Changes to Financial Statements!

By |2019-05-22T10:02:36-05:00December 11th, 2018|Accounting, Board, Budget, Cash Flow, Change, Compliance, Investment, Nonprofit, Preparation|

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 [...]

4 Areas to Consider When Planning Your Next Capital Campaign

By |2018-12-13T15:46:24-06:00September 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 [...]