Articles

FASB Issues Guidance on Going Concern Uncertainties

On August 27, 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-215 (ASU), the Presentation of Financial Statements – Going Concern. This standard is intended to define management’s responsibility to decide whether there is substantial doubt about an organization’s ability to continue as a going concern and to provide related footnote […]

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A Nonprofit Insurance Review

From natural disasters to frivolous lawsuits, bad things sometimes happen to good organizations. Unfortunately, the good your organization does is of little help in most of these situations. Assessing and managing risk is a board responsibility. Begin the process with some serious “scenario” planning. What might go wrong and what could happen if it does? […]

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Financial Blueprint for Nonprofit Budgets

It takes time to develop an effective budget. But it’s time well spent because an effective budget is much more than a spreadsheet. It’s a financial blueprint that ultimately guides program activities and fundraising efforts in the upcoming year and reflects your organization’s short- and long-term plans. Your budget provides financial structure. It should also […]

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Nonprofit Developments – Summer 2014

Volunteering Drops in 2013 According to the U.S. Bureau of Labor Statistics, the volunteer rate in 2013 was 1.1 percentage points lower than the 2012 rate. The number of people who volunteered for or through an organization at least once between September 2012 and September 2013 was 62.6 million — the lowest volunteer rate since […]

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