Posts Tagged ‘nonprofits’
Signs That Your Organization May Be Need Outsourced HR Services
Have you ever sat at a board meeting with a feeling that the Executive Director may be exhibiting unstable behavior or may be running the organization into operational or financial instability?
Read MoreCase Study on a Federal Award Recipient
Recently, we were engaged by a nonprofit organization to help them during a significant finance team staffing shift. In addition to replacing their CFO to complete their 4-person finance team, they were also in the middle of a very rigorous Single Audit and needed an outsourced CFO to step in and help get them through…
Read MoreHow can a specialized grants management team add value to your organization?
Hiring an expert team to establish structure, efficient systems, and processes will help you comply with government grant requirements and will add value to your organization in many ways: This team focuses on government grant compliance and accounting issues – nothing else! You have a good finance team in your organization, but they have a…
Read MoreBudgets for Nonprofits
Budgets are such an integral part of your organization’s financial well-being – make sure you prepare it correctly.
Read MoreIndirect Cost Rate Monitoring
Indirect cost rates fluctuate each year based on the results of your operations. If the indirect rate decreases, it could be a sign that your organization is heading to a major cash flow problem to resolve. Stay on top of your current year’s indirect cost rate to plan and prepare for any changes. It is…
Read MoreBoard Member Perspective – Questions to Ask When Reviewing an Audit
You are presented with the financial statements prepared by auditors. Do you know what questions to ask? What will the auditors tell you only if you ask? The process of auditing the financial statements of an organization is quite invasive not only on the transactions and balances that make up the financial statements, but also…
Read MoreBoard Member Perspective – Financial Information to Review
If you belong to more than one nonprofit board you may have noticed that each one may present a somewhat different set of financial information at board meetings. Do you know what is the appropriate information to present and examine? In order to comply with your fiduciary duty, you should be presented with complete, accurate,…
Read MoreInterpreting Results of Operations for Non-Profit Entities
For obvious reasons, executives and board members of non-profit organizations prefer to see that revenues exceed expenses. This difference would normally be described as net income, but for non-profits, it’s referred to as the change in net assets. Since non-profit organizations have a special type of revenue recognition, this bottom line on the financials can…
Read More4 Fiscally-Responsible Changes You Can Make as a Board Treasurer
It is an honor being asked to be treasurer of the Board of a not-for-profit organization. What seems like a time-consuming task is truly an opportunity to make a fiscal difference for the organization you are invested in. As a CPA with an understanding of nonprofit experience, I have been lucky enough to serve on…
Read MoreNew Standards of Excellence for Nonprofits
The Standards of Excellence Institute released its enhanced code of ethics and accountability for the nonprofit sector. See press release The Maryland Association of Nonprofits, the organization that created the national Institute, hosted a forum on version 2 of their code for seal holders, peer reviewers and licensed consultants. During the forum, they introduced the…
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