Revenue Recognition Guidance for Not-for-Profits
Not-for-profits are finally able to make sense of the confusion over the Financial Accounting Standards Board’s (FASB) new revenue recognition, Topic 606, thanks to a new standard issued June 21.
How Crowdfunding Can Help Nonprofits Generate Funding
Were you recently invited to donate to a friend’s Gofundme account, or have you participated in a colleague’s Kickstarter campaign? If so, you are not alone. Crowdfunding, the process of raising small contributions from a large number of people for a specific project facilitated through websites, has exploded over the years.
Five Tips to Help You Get Ready for Your Year-end Audit
Is your organization ready for its year-end audit? Here are a few tips from an auditor than can help you prepare for a smooth and efficient audit.
How Small- to Medium-sized Nonprofits Can Get the Help They Need to Manage Their Investments
Nonprofit organizations have a fiduciary role in managing investments that are the result of donor gifts. For those with endowment funds, there are laws and regulations outlining fiduciary responsibilities with respect to those funds and how the funds are invested and allocated for expenditure. Large nonprofit organizations with significant investments have the resources to engage large institutional investment managers to assist in managing their investment portfolios.
Boost Your Not-for-Profit’s Revenue While You Build Upon Your Future
Many people have heard the saying “location is everything.” While it may be debatable that location is everything, location is very important in the Commonwealth [...]
The Importance of a Nonprofit Audit Committee
Transparency and accuracy of a nonprofit’s financial statements has become even more vital over the years. Having an audit committee should be essential part of [...]
Donor-Advised Fund: A Vehicle for Individual Giving
According to the 2017 Donor-Advised Fund Report created by the National Philanthropic Trust (NPT), individual giving accounted for $281.86 billion, or 72%, of all charitable [...]
Tax Reform May Negatively Impact Charitable Contributions
The 2017 Tax Cuts and Jobs Act (the Act) passed by Congress on December 22, 2017 marks the most significant tax law changes in over 30 years. Most taxpayers will see their tax liability decrease. The Congressional Budget Office estimates the Act will reduce tax revenues by $1.455 trillion over the next 10 years. But all is not good for non-profit organizations as there are changes in the Act that may negatively impact charitable contributions.
Increase Donor Funding and Loyalty by Building Relationships
One problem that every not-for-profit organization encounters is the need to raise money to fulfill the organization’s purpose. A great way to motivate donors and reduce fundraising pressures on your staff is through building and strengthening relationships with individual donors. This is especially true with major donors, or those donors who make a major investment in your organization.
Use the Updated Form 990 Schedule A to Your Advantage
Will the public change the way it makes donations as a result of the Job Cuts and Jobs Act? And will your non-profit be impacted by those behavioral changes? These questions are being asked by non-profit leaders across the country. There is a fear that a decrease in charitable giving will cause operating shortfalls and jeopardize your public charity status. One way to maximize your organization’s public support, no matter how charitable giving changes, is to make sure you are not in jeopardy of losing your charitable status