- January 24, 2018
When employees steal, their colleagues are more likely to be aware of it than the managers in the executive suite, but they may be reluctant to “rat out” fellow workers.
Olsen Thielen Advisor Blog
- January 22, 2018
Not-for-profit board officers, directors, trustees and key employees must avoid conflicts of interest because it’s their duty to do so. Any direct or indirect financial interest in a transaction or arrangement that might benefit one of these individuals personally could result in the loss of your organization’s tax-exempt status —
- January 10, 2018
An important part of the planning process for a financial statement audit is having quality discussions with clients regarding how their year went. However, this is just one part of the puzzle when it comes to planning for an audit.
When you do think about your Form 990 tax return, you also probably think about and dread the amount of information your accountant asks you to provide. But the truth is, all of the information accountants ask for is vitally important to present your organization in the best light for
- January 5, 2018
After a flurry of year-end fundraising, you and your not-for-profit’s staff are probably ready for a little break. Your supporters may be tired, too. At some point, even the most philanthropic individuals experience donor fatigue and start saying “no” — even to their favorite charities.
- December 21, 2017
For-profit businesses understand that it takes a lot more time and money to attract new customers than it does to keep current customers happy. The same can be said for your not-for-profit’s members. But there’s more to retention than cost savings. Long-time supporters help attract new members and are ideal
- December 20, 2017
The end of the year is fast approaching and not only does that mean we are in the holiday season but, for many companies that means it’s time to start preparing for the annual audit.
- December 19, 2017
Financial statement fraud is committed by intentionally misrepresenting an organization’s financial condition. A perpetrator might do this by omitting or misstating amounts or information to deceive auditors, shareholders and the public. However this fraud is committed, it tends to be one of the most costly schemes for the victimized companies.
- December 19, 2017
When your not-for-profit desperately needs a new facility, costly equipment or an endowment, a capital campaign can be the best way to raise funds. But to be successful, a campaign requires strong leadership, extensive planning and dedicated participants.
- December 19, 2017
When employees commit fraud, it can take months, even years, for their employers to discover the theft. But proactive fraud detection makes it possible for businesses to detect fraud schemes earlier - long before they generate significant losses.
- December 12, 2017
The convenience of instantaneous information can blind us to technology’s drawbacks, including cyber attacks and data breaches. But there’s another, lesser-known technology-enabled crime to watch for — Automated Clearing House (ACH) fraud.
- December 11, 2017
Many employers use background checks as a regular part of their hiring processes. If yours is a smaller organization, you may understandably feel pressured to hire good candidates quickly. After all, you don’t have the hiring resources of a larger organization and might really need the help. But, in today’s
- December 11, 2017
If your not-for-profit is struggling financially, you’ve probably already taken steps to cut costs, such as wage freezes and layoffs. But to keep your organization afloat, you may need to come up with more creative ways to generate operating cash flow.
- December 6, 2017
Even an extensive fraud prevention program can’t guarantee your company will escape fraud-related legal action. If you decide to initiate a civil suit or press criminal charges against an employee involved in fraud, you’ll need every resource at your disposal. One of the most critical is the expertise of a
- December 5, 2017
To make sound decisions, your not-for-profit’s leadership should periodically survey donors and other constituents. But how do you design a survey to ensure a high response rate and constructive feedback?