Article Archives: Cheryl R. Olson

Posted by: Cheryl R. Olson · Sarah Wine

Community foundations are inherently complex due to the various types of funds they receive with different arrangements based on donor preferences and their status as a grantmaking organization. COVID-19 has only increased those challenges, especially in the areas of technology, operations, efficiencies, and the changing face of philanthropy, all of which are intertwined. Having spent […]

Posted by: Cheryl R. Olson

By Cheryl R. Olson, CPA, CGMA and Co Author Paul L. Havel, Intellectual Property Team Leader, Miller Nash Graham & Dunn LLP (This article was originally published on 2/1/2016 by NetRaising | a web consultancy. It was updated on 7/29/2020 to reflect the latest guidance and information.) You’ve created the perfect website. You’ve spent countless hours […]

Posted by: Cheryl R. Olson

I have had many conversations lately about the skill sets nonprofit finance and accounting staff need to possess in today’s environment to stay relevant and competitive. These conversations range from CEOs who are looking for more strategic partners with their existing CFOs, to CFOs themselves who are feeling overwhelmed with competing priorities, to accounting staff […]

Posted by: Cheryl R. Olson · Karen Dunn

This article was originally published in NetRaising. Your website may inadvertently cause tax risks to your organization. A website communicates an organization’s mission, programs, and events to donors, volunteers, and the community. That is a valuable service. However, it can also communicate taxable unrelated business activities, prohibited or limited activities, and noncompliance with tax rules. […]

Posted by: Cheryl R. Olson

This article originally appeared in the Journal of Accountancy ©2019 Association of International Certified Professional Accountants. In a way, board oversight has the same impact on a not-for-profit organization that parenting has on a child. Performed effectively, board oversight provides the framework for the organization to grow and prosper. But when the board is dysfunctional […]

As you’ve likely heard, ASU 2016-14, called Presentation of Financial Statements of Not-for-Profit Entities, was issued in August 2016 and is effective for fiscal years beginning after 12/15/17. The standard applies to all organizations, regardless of size. The ASU has changes in five key areas: Net asset classification Disclosures about liquidity and availability of financial […]

Posted by: Cheryl R. Olson

In this current environment, it’s common to hear about the importance of transparency. Keeping your own website updated with current information is important, but you also have some control over what the public learns about your organization through other websites, such as GuideStar. GuideStar gathers, organizes, and distributes information about nonprofit organizations in the United […]

Posted by: Cheryl R. Olson

The information provided by the finance departments and the development departments at not-for-profit organizations often does not agree and it doesn’t have to. What does have to happen is the numbers must be able to be reconciled from one to the other, especially if two separate reports are being provided to the Board of Directors. […]

As a Sage Intacct Value Added Reseller (VAR), we are pleased to announce the new relationship between Sage Intacct and GuideStar. The partnership will be releasing a Nonprofit Financial Board Book in early 2018 to all NFP customers. What is the Nonprofit Financial Board Book? A digital board book is a way to present metrics […]

Posted by: Cheryl R. Olson

By Cheryl Olson, CPA, CGMA Now that we’re in March, many of us have given up on our New Year’s resolutions. Some of us didn’t make resolutions to begin with based on past history. That said, It’s not too late to make a 2017 commitment to create, review, or update your organization’s key governance and […]

Posted by: Cheryl R. Olson · Karen Dunn

By Cheryl R. Olson, CPA, CGMA and Karen Dunn, JD, LLM This article has since been updated. You can find the latest version here. Your website may inadvertently cause tax risks for your nonprofit organization. A website communicates an organization’s mission, programs, and events to donors, volunteers, and the community. That is a valuable service. […]

Posted by: Cheryl R. Olson

By Cheryl Olson, CPA, CGMA The budgeting process can often seem like an exercise that takes a lot of staff time without much impact. If you find that to be true for you, it’s time to change your process. The budget has the potential to establish benchmarks, assess financial health, and increase accountability and oversight. […]

Posted by: Cheryl R. Olson · Diane Shey

By Cheryl Olson, CPA, CGMA and Diane Shey, CPA In part one of this series, we looked at the process for identifying your organization’s specific functional needs in an accounting system. The next step is to compare the functionality of your existing accounting system to the needs you identified previously. This step requires going beyond […]

Posted by: Cheryl R. Olson · Diane Shey

By Cheryl Olson, CPA, CGMA and Diane Shay, CPA “Ugh, why can’t my accounting system just read my mind?” This is not an uncommon statement when you find your accounting system doesn’t do what you want it to do in the time you want it done. We all have our days when we are frustrated with […]

Posted by: Cheryl R. Olson

By Cheryl Olson, CPA, CGMA You’ve all heard of the Overhead Myth, which is the “false conception that financial ratios are the sole indicator of nonprofit performance.”  In 2013, GuideStar, BBB Wise Giving Alliance, and Charity Navigator wrote a letter recommending donors look at other performance factors beyond the administrative and fundraising expense ratios. The […]

Posted by: Cheryl R. Olson

By Cheryl Olson, CPA, CGMA Due to highly publicized fraud cases and poor governance practices, as well as state budget issues, more people are scrutinizing the activities of not-for-profit organizations. This, of course, results in greater board and committee member expectations, donor questions and new regulatory requirements. With all of this increased scrutiny, it’s essential […]

Media Contact

Melissa Takade
Director of Marketing
Clark Nuber
Phone: 425-454-4919
Contact Melissa