Tips to Improve Board Financial Reporting

The ultimate goal of providing an organization’s board with financial reports is to help them understand where the organization is and where it needs to go. Unfortunately, it is a common struggle when reporting to strike the right balance between providing meaningful,

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When Should I Have an Audit?

You are on the board of a not-for-profit organization (NFP) and charged with making wise decisions for the good of the organization and its donors. When is the best time to perform an audit of its financials?

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The Difference Between an Employee and an Independent Contractor

Congratulations! Your organization has identified a new CFO to help bring your accounting department into line at a very reasonable price. Although you had budgeted for a full-time employee, the prospective CFO has told you that she would like to be hired as an independent contractor.

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Ten Easy-to-Adopt Internal Controls for Small Nonprofits

Small to medium nonprofits often struggle to balance the fine line between having sufficient internal controls to protect the organization and having too many internal controls that become burdensome to their small accounting department.

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Tax Questionnaire Season for Calendar Year Not-for-Profit Boards

Not-for-profit boards have three fiduciary duties: the duty of 1) care, 2) loyalty and 3) obedience. Part of the duty of obedience is the duty to comply with tax laws.

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