Not-for-Profit

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When Does Professional Association Management Make Sense?

December 4, 2017

If your new or fast-growing not-for-profit could use an extra pair of experienced hands, an association management company (AMC), with its turnkey infrastructure, might be able to help. AMCs are paid to manage your nonprofit’s business, leaving you to concentrate on its mission.

Build a Solid Frame for Your Performance Management System

November 30, 2017

To succeed at executing an effective performance management system, you need to build a solid frame by recognizing the foundational details. Done right, however, this system can provide a solid structure for maximizing performance and helping employees envision their future with your organization.

Thorough Due Diligence Can Protect Your Acquisition From Fraud

November 12, 2017

In today’s rough-and-tumble world of mergers and acquisitions (M&As), buyers need to get to know business sellers and their executives, test their representations about asset condition and financial performance, and screen for common fraud schemes.

Grants Can Help Firm Up Your Nonprofit’s Financial Foundation

November 7, 2017

There are more than 87,000 foundations in the United States — including family, corporate and community foundations — according to the Foundation Center. If your nonprofit isn’t actively seeking grants from these groups, you’re neglecting a potentially significant income source.

3 Positive Ways to Effectively Address Employee Mistakes

November 1, 2017

In all companies, things can and do go wrong, and employees mishandle their assigned tasks and sometimes those mistakes are significant and costly.

5 Simple Steps to a Better Nonprofit Budget

October 25, 2017

Preparing your nonprofit’s annual budget is probably one of the least appealing parts of your job. Here’s how to make the process a little less painful.

Providing Insurance (and peace of mind) as a Fringe Benefit

October 18, 2017

The environment for hiring and retaining top-notch employees remains competitive. One strategy for combating high turnover rates is offering a competitive package of employee benefits that goes beyond health care coverage and a retirement plan. This is where the right fringe benefits can really pay off.

Don’t Let Lapping Fraud Run Circles Around Your Business

October 17, 2017

Lapping, or using receipts from one account to cover theft from another, is one of the most common methods of skimming from company accounts. But with vigilance — and a little knowledge — you can prevent this type of fraud from damaging your business.

Valuing and Reporting Gifts in Kind and Donated Services

October 11, 2017

Not-for-profit organizations don’t receive only cash donations. Your support also likely comes in the form of gifts in kind and donated services. But even when such gifts are welcome, it can be challenging to determine how to recognize and assign value to them for financial reporting purposes.

An Anonymous Hotline Can Encourage Employees to Report Fraud

October 4, 2017

Anonymous hotlines an effective method of uncovering occupational fraud. But while the mere existence of a hotline can prompt second thoughts in employees tempted to commit fraud, it usually isn’t enough to encourage reporting of fraudulent activities.

Possible Tax Reform Could Affect Timing Strategies

October 4, 2017

Projecting your business income and expenses for this year and next can allow you to time when you recognize income and incur deductible expenses to your tax advantage. Typically, it’s better to defer tax. This might end up being especially true this year, if tax reform legislation is signed into

Promoting from Within Can Be a Recipe for Management Success

September 14, 2017

Promoting current, nonsupervisory employees to management positions can fulfill the employment needs of many organizations. You’ve just got to follow the right recipe.

Tax Planning Critical When Buying a Business

September 11, 2017

If you acquire a company, your to-do list will be long, which means you can’t devote all of your time to the deal’s potential tax implications. However, if you neglect tax issues during the negotiation process, the negative consequences can be serious.

How Your Nonprofit Can Avoid Investment Fraud

September 8, 2017

Investment fraud, such as Ponzi schemes, can cause significant financial losses for not-for-profits. But the harm it can cause an organization’s reputation with donors and the public may be even worse.

Revenue Fraud in Associations

September 7, 2017

Fraud that makes the headlines are typically disbursement schemes, meaning that they are frauds that occurred from the disbursement of cash, such as embezzlement and purchasing frauds. While these are very significant and should be considered by every type of organization by addressing internal controls surrounding cash disbursements, associations may