The new accounting standard from the Financial Accounting Standards Board (FASB) will take effect mid-December, 2022, and it could require action from your non-profit. Accounting Standards Update (ASU) No. 2016-13,
Many non-profits are still recovering from the economic challenges of the pandemic. Such economic threats as high inflation are causing business to stretch every dollar. Employees might see layoffs at
Many non-profits are worried about high inflation and the possibility of another recession. All this after COVID-19 hit many non-profits’ finances and operations. Focusing on growing your operating reserves might
Cybersecurity can be very expensive. This is one of the many reasons why non-profits fail to secure their networks and digital assets. Without the correct cybersecurity measures in place to
Many non-profit organizations do not compensate their board members, but it could be beneficial. Many firms don’t even know compensation is an option. It depends on the type of organization
At its base, “accountability” means taking responsibility for outcomes — both good and bad. One common byproduct of accountability is that results are more likely to be positive than negative.
Whew! That’s probably your reaction when outside experts announce that their audit of your non-profit is complete. However, even after auditors have left your premises and returned the documents they’ve
Religious congregations usually enjoy greater protection from federal government oversight than other non-profit organizations. For example, the IRS can’t conduct a ‘church tax inquiry’ unless a high-level Treasury Department official
Are your non-profit’s staffers employees or independent contractors? It’s an important question because under the FLSA, misclassifying workers can lead to penalties and other costs. If you haven’t reviewed your
It’s been a busy year for natural disasters, with Hurricane Ian only the latest calamity to befall the United States and its territories. If your non-profit operates in or serves
