Archive for the ‘Not-For-Profit’ Category

Thursday 09/27/2018

What is Your NFP Board’s Succession Plan?

Al Harsar, CPA A not-for-profit organization needs to have a succession plan in place to ensure the continued existence of the organization during transitions of the trustees, in the same way that a for-profit business puts these plans into place.  Many not-for-profit organizations have a board of volunteer trustees that interact with the staff and […]

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Thursday 08/09/2018

NFP Financial Reporting Changes Series: Topic 2 – Functional expense changes and cash flow statement changes

Topic two rounds out our NFP Financial Reporting Changes series! To recap, in 2011 the FASB began a project to improve Not-for-Profits’ (NFPs’) financial reporting after concluding that the existing standards are sound but that it was time to determine improvements that could be made.  In 2015, the FASB presented its findings/improvements to the public […]

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Thursday 07/26/2018

Nonprofit Organizations Beware of Unintended Tax Consequence

Ann Emery, CPA explains what nonprofits need to watch out for with unrelated business income tax. Nonprofit organizations facing increased competition for donor dollars may start to seek out income diversification, meaning they are considering alternative revenue streams outside their exempt purpose. While this may raise additional funds, it could possibly subject tax-exempt entities to unrelated […]

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Thursday 06/08/2017

Capturing Volunteer Time on the Books

Al Harsar, CPA shares how to apply value to volunteer time for your not-for-profit: Many not-for-profit organizations are able to utilize the generosity and the skills of their volunteer force for essential tasks and projects. It is important to capture these hours and apply a value to increase the organization’s top line revenues for services. […]

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