Not-For-Profit Leaders Share AI Concerns

Artificial intelligence (AI) seems to be everywhere these days, including in not-for-profits. A recent survey by Stanford University’s Institute for Human-Centered Artificial Intelligence and Project Evident explores the current use of, interest in and opportunity for AI in the social and education sectors. The survey’s results show that AI already has a considerable presence there; […]

Are Your Operating Reserves Enough?

Operating reserves — generally, assets without donor restrictions that you can tap into easily — frequently are referred to as “rainy day funds.” However, stable reserves are critical for far more pressing reasons than the metaphorical rainy day. Solid operating reserves demonstrate responsible financial stewardship to your stakeholders. Reserves also increase the odds that your […]

Tips for Navigating a Tough Labor Market

Employers in all sectors are facing a tight job market. Open positions may remain empty for months, and some employees seem to have few qualms about jumping ship, due in part to changes in the work force’s expectations. But the situation does not have to be dire for savvy not-for-profits willing to adapt to the […]

Holding an Auction? Be Sure to Comply

So you are having an auction. Rev up the team to solicit those baskets of goodies, spa visits, vacations and game tickets, but do not forget about complying with tax laws. There are several steps your not-for-profit organization must take to fulfill your tax obligations and help your auction buyers fulfill theirs.

Revenue Recognition Standards: How Is Your Not-For-Profit Affected?

When the Financial Accounting Standards Board’s new revenue recognition standard was released in 2014, many organizations and businesses were unsure on how it would affect them. In particular, not-for-profit organizations were unclear on the potential impact. Here is a refresher on the standards to determine how your organization may be affected.

Common Finance-Function Mistakes You Should Avoid

Most not-for-profits are understandably laser-focused on their mission, and other less-critical matters may fall between the cracks, such as managing the finance function. However, if the finance function does not receive the attention it deserves, you run the risk of IRS penalties, reputational damage and lost revenue.

The New Revenue Recognition Standard: How Does It Affect My Not-for-Profit?

When the Financial Accounting Standards Board’s (FASB’s) new revenue recognition standard was released in 2014, many organizations and businesses were unsure on how it would affect them. In particular, not-for-profit organizations were unclear on the potential impact. However, the new standard applies only to revenue from “exchange transactions,” also known as reciprocal transactions. Many not-for-profit organizations receive contributions, which are non-reciprocal, and therefore, different rules apply. This article explains when you should report grant and contribution revenues under ASU 2014-09. A Sidebar reports on future FASB guidance that will clarify how and when to recognize grant and contribution revenue when receiving government funds.

Not-for-Profits and the New Revenue Recognition Standard

A not-for-profit organization that has issued, or is a conduit bond obligor for, securities that are traded, listed or quoted on an exchange or an over-the-counter market is considered a public entity and is therefore required to adhere to a new revenue recognition standard established by the Financial Accounting Standards Board. We detail this new accounting standard in this article, as well as help you determine whether you should implement it at your organization.

Trade Associations and Political Activities – Is a PAC Right for You?

In order to serve its members by supporting certain political activities but not violate the Federal Election Campaign Act, a trade association might make contributions to the campaigns of political candidates and parties through Political Action Committees (PACs). This blog explores how they work.

The Building Blocks of Effective Endowment Management

Overseeing a not-for-profit’s endowment fund is one of the most important roles for the board of directors. A strong investment committee, made up of board members and staff, will not only ensure the continued health of the endowment and the organization, but also attract other donors looking for good stewards for their contributions.

Dedicated Employees – Your Organization’s Greatest Asset

It is understandable that during tough economic times, it may be necessary to freeze wages or award minimum pay, while asking employees to take on new responsibilities. However, do not lose sight of the importance of your staff, from hiring and training them to rewarding them for their performance, and providing motivation to stay. This article explains how to motivate staff in ways that are not too hard on the budget.

Tax-Exempt Organizations and Political Activities – Proceed with Caution

With the upcoming election in November, politics is at the forefront of everyone’s minds. But for a not-for-profit organization, it is critical that its management understands what types of political activities are allowed and what types of activities may jeopardize an organization’s tax-exempt status.

Going Once, Going Twice, Put it in the Books!

Many not-for-profit organizations hold fundraising events, such as dinners and galas, with the dual purpose of raising awareness of their programs and increasing donations.  These organizations are required to report revenue and expenses from special events on their statement of activities as gross amounts if the events are part of the organization’s ongoing major or […]

Not-For-Profit Group Newsletter – Fall 2021

ORBA’s Not-For-Profit Newsletter provides four best practices for successful virtual events and covers the latest trends in employee philanthropic behavior.

Not-For-Profit Group Newsletter – Winter 2021

Our Not-For-Profit Group Newsletter provides a series of questions designed to assist board members in the execution of their oversight roles and covers the Employee Retention Credit.

Not-For-Profit Group Newsletter – Summer 2020

Our Not-For-Profit Newsletter helps you evaluate your revenue streams to make sure they are sufficiently diverse as you head into the future and covers the findings of a new Fidelity Charitable study on charitable giving.

Not-for-Profit Group Newsletter – Spring 2019

Our Not-For-Profit Group’s Spring 2019 Newsletter provides an update on the European Union’s new privacy rules, as well as newsworthy updates from the Not-For-Profit industry.

Not-For-Profit Group Newsletter – Fall 2017

Is Board Member Compensation a Good Idea? BARBARA MILLER, CPA If your organization struggles each time it needs to fill a board vacancy and does not always come up with the candidates it desires, it may be time to consider creating a board compensation program. Add Up the Pluses and Minuses There are advantages to […]

Not-For-Profit Group Newsletter – Summer 2013

Online Resources For Exempt Organization Information CHARLES J. BURKE, CPA A vast array of exempt organization information is widely available on the internet, however as we all know, not all information is created equal, especially on the World Wide Web. Finding accurate and relevant information from reputable sources is integral for potential donors, grantmakers, stakeholders […]