Olsen Thielen Advisor Blog

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Why Your Nonprofit Should Have a Gift Acceptance Policy

October 18, 2019

When you receive a personal gift from a friend or family member — even if it’s not something you particularly want — you accept the gift and thank the person. The same isn’t always true of gifts given to your not-for-profit. Gifts should be examined, and, possibly, refused.

Keeping Pace with Your Not-for-Profit’s Bylaws

October 9, 2019

Most likely your organization has grown and evolved since it was founded. Do you know if you are keeping pace with your not-for-profit's bylaws? Bylaws are the rules and principles that define your organization — and, if you haven’t revisited them recently, they may not be as effective as they

New Principals Elected

October 8, 2019

We are pleased to announce Matthew J. Klein and Nathaniel L. Nelson have been elected Principals of the firm, effective September 1, 2019. With their election, Olsen Thielen now has 21 Principals and over 86 staff.

Fake Video Scams

October 8, 2019

According to the KnowBe4 Security Team (knowbe4.com), the bad guys are using social media messaging platforms and emails to send dangerous phishing links that are disguised as a link to a video.

Beyond a Strong Password – Protecting Yourself Online

October 7, 2019

Using a strong password is an important part of your online protection, but as cyber criminals become more sophisticated and determined, you must take additional precautions when protecting your digital identity.

Ask the Right Questions About Your Cybersecurity Risk

October 2, 2019

Business owners only need to turn on the news to learn about the latest data breach or attack of ransomware. But when it comes to their own business’ security, are they asking the right questions to ensure they are doing all they can to prepare for the rising tide of

Don’t Waste Your Board Member’s Time

September 25, 2019

Your board members serve because they believe in your organization and care about your mission. However, most are unpaid volunteers. You owe it to them to make the job as easy as possible — starting with well-organized board meetings that are only as long as necessary.

Fraud Risk Assessment

August 20, 2019

Publicly traded companies must conduct fraud risk assessments but privately held businesses aren't subject to the the same fraud risk assessment requirements.

Social Security No Match Letter

August 19, 2019

Starting in the spring of 2019, the Social Security Administration (SSA) has been sending out these letters to alert employers if there’s a discrepancy between the agency’s files and data reported on W-2 forms, which are filed with the IRS.

Active Fraud Detection

August 15, 2019

When it comes to reducing fraud loss and duration, active fraud detection methods (such as surprise audits or data monitoring) are far more effective than passive methods (such as confessions or notification by police). In spite of the effectiveness of the active methods, many companies fail to use them to their full

Background Checks Help Cover all the Bases

July 30, 2019

Background checks don’t inoculate companies against occupational fraud and other criminal acts by employees. After all, many thieves have never been caught and, therefore, have no criminal background.

Corporate Espionage

July 26, 2019

Corporate espionage involves the theft of information that hasn’t been made public and each year businesses lose billions of dollars in intellectual property (IP) from thieves stealing trade secrets.

Consistent IRS Reporting Reduces Chance for Audit

July 25, 2019

Whether you are selling or buying a business or in the process of a merger or acquisition, it is important that all parties be consistent when reporting the transaction to the IRS. Reporting discrepancies could increase your chance of being audited.

Not for Profit Fraud

July 23, 2019

In general, the amount lost to not for profit fraud isn't nearly as much as it is at for-profit businesses. Few nonprofit budgets can afford a $75,000 shortfall or the bad publicity associated with fraud. Here’s how nonprofits open the door to fraud — and how your organization can shut it.

Cause Marketing

July 12, 2019

Even if your nonprofit typically doesn't have budge shortfalls, you may be looking for new funding sources and may want to consider cause marketing. Made possible via a partnership with a for-profit business, cause marketing can boost your budget, your public profile and even your volunteer base.