If you’re a nonprofit, be prepared for some potential major changes to the way you recognize revenue. Performing this new analysis will be crucial to understanding how to recognize revenue from your various funding sources.
What is different is nonprofit leaders’ approach to their administration and missions. Boots on the ground organizations have invested in brand perception positioning as well as administrative tools, intended to enhance their reputations and reduce overhead costs. For example, nonprofits are going paperless and equipping field representatives with tablets to communicate and report more easily.[ … ]
The 2018 Arizona CFO Spotlight Survey attracted respondents from a number of industries in Phoenix and Tucson. We will highlight the not-for-profit & government segment here in terms of growth, risk factors, strengths and trends. A variety of community outreach, research, academic, associations and charitable organizations responded to the CFO Spotlight Survey for the third[ … ]
Organizations, including not-for-profit entities, receiving federal awards are subject to the new Uniform Guidance. The Uniform Guidance was effective for fiscal years beginning after 12/26/14 and supersedes guidance from previous OMB circulars. Most organizations will be impacted by these changes during their 2015 or 2016 fiscal year. Changes include increasing the threshold for requiring single[ … ]
The Financial Accounting Standards Board (FASB), the organization that sets accounting standards, is in the process of evaluating the current accounting and reporting requirements for not-for-profit organizations. FASB expects to issue an exposure draft with proposed changes to the existing required presentation of net assets and cash flows and current disclosures related to liquidity and[ … ]
By Jim Lovelace, Shareholder Many nonprofit organizations have been unable to escape the effects of the current bear market. Although nonprofits are not typically market risk takers, the weakened market did not discriminate and all sectors are feeling the pain today. With the recent economic downturn, portfolios have lost ground. Nonprofit organizations have had to[ … ]
Many nonprofit entities are contemplating merging with or acquiring another organization as a response to the troubled economy of late. Management of these nonprofits see the challenges presented to struggling organizations and consider mergers and acquisitions as a way to shore up finances, consolidate fundraising efforts and reduce administrative costs. Mergers and acquisitions are also[ … ]