By Jacobson Jarvis Staff Are you ready for the changes that are coming to not-for-profit accounting? Do you know what they are and how they are likely to impact your organization? While we don’t have a crystal ball, the AICPA’s National Not-For-Profit Industry Conference is a close second. The Conference brings together the industry's top experts and thought leaders to offer their perspectives on the most crucial issues facing not-for-profits and those who serve them, and Jacobson Jarvis is th...Read More
By Jennider Bright
- Underestimate transition time and rush the hiring process. “It’ll take 90 days, max!”
- Treat cash reserves as a luxury. The desire to “fund the mission first” sometimes leads boards to neglect cash reserves, and funders to give lower priority to applicants who have or are trying to build strong cash reserves.
- Pull back from supporting an organization because it’s in transition. Some funders decl... Read More
[vc_row][vc_column][vc_column_text]By Erin Welch, CPA One of the board’s most critical roles is to ensure that the organization’s financial resources are effectively managed and sufficient to assure the organization’s long-term viability. And yet, most organizations don’t pick board members because of their financial capabilities. In fact, it’s not uncommon for board members without extensive financial expertise to rely on the handful of bankers, CPAs and financial advisors on their board to ...Read More
By Ann G. Macfarlane When the attorney general calls your office and asks about a board decision, could you find your minutes quickly? You, gentle reader, may think this will never happen to you. You may not even have imagined that it could happen to you. But members of nonprofit boards are beholden to the state in which they are incorporated. As a director or officer, you have a duty to ensure that your organization conducts its affairs properly. The record of those affairs is—the meeting min...Read More
During tough economic times, an increasing number of not-for-profit boards may feel pressured to accept various types of funding sources in order to meet their fundraising objectives, a number of which may lead to accounting complexities, donor management issues, and other unforeseen costs. Knowing what to expect before your organization pursues more complex funding sources can limit your exposure to unnecessary financial and operational difficulties. Below is an overview of the most common type...Read More