I continue to see and hear about issues that our clients and others in the nonprofit industry are having with their lenders with respect to financial statements. It is becoming more evident that many lenders do not understand nonprofit financial statements due to their unique financial reporting requirements. Below are the top 5 issues that nonprofits have with their lenders.
The IRS, through its revisions to Form 990, requires reporting by not-for-profits on a range of governance issues including board member “fiduciary duty” and their ability to gain the trust of their organization. What is fiduciary responsibility and what does it mean to the board of a not-for-profit?
As the implementation deadline of the new revenue recognition standards (ASU 2014-09) approaches, there are many companies and organizations scrambling to grasp the impact that [...]
Considerations when revising nonprofit bylaws Bylaws are the rules and principles that govern your not-for-profit organization so being familiar with what they contain, and what [...]
For some nonprofit organizations, contributions are a significant source of revenue. Proper accounting treatment for those contributions is key, which include tracking and monitoring restricted [...]
The old cliché for nonprofit Board members is “give, get, or get out.” This adage may be appropriate for your organization, but each nonprofit and [...]
Just about everyone recognizes the challenges and difficulties running a for-profit business, but running a not-for-profit can be just as challenging, if not more so. [...]
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