Category Archives: IRS

Improving Performance and Other News

Posted on April 17, 2009 | Leave a comment

readingAfter a week of vacation and several days catching up on work from said vacation, I have a nice list of things nonprofit financial folks might want to look at.  I’d also like to welcome all the new readers that came to this website while I was gone.  I hope you find this space useful and please feel free to contact me if you have any questions.

For nonprofit employees and the organizations who employ them

Anybody looking for a finance person for your nonprofit?  Or are you the fiance person at your nonprofit and looking for some guidance? Bridgestar has a nice section on Chief Financial Officers and their roles in nonprofit organizations.  Worth a look, and you can also search for jobs there.

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Posted in Governance, IRS, Risk Management

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Questions and Answers

Posted on April 8, 2009 | Leave a comment

I’m either asked these questions or I come across them in my work.  Here are three somewhat common ones.Questions?

Our nonprofit is getting ready for our first audit.  What are we supposed to do, and what does the auditor do?

You should receive a letter of engagement from the auditors that helps spell out the relationship.  You’ll also get a lists of things to do and get ready before the auditors come to your offices for the field work.  This article also talks about the process.  But if you have any questions you should ask your auditors before things get going to avoid any confusion and additional cost.

Should board members be allowed to contact staff directly?  Or should all contact go through the Executive Director?

This was a question on an email listserv and the answer that I liked was posted here.

I would like to have “Gross Receipts” defined. Would this include the value of our volunteer labor? Or is it strictly cash value of donations received?

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Posted in Governance, IRS, Nonprofit Accounting, Q&A

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Nonprofit News Update

Posted on March 26, 2009 | 1 comment

roundupThis edition of my Nonprofit News Update features resources for your nonprofit.  One thing I really like about how this sector operates is the willingness we have to share good ideas, to help out our brother and sister organizations.  Twitter is a fine example of that phenomena.  Just follow some of the nonprofit folk out there and you can learn a lot about what is going on in the sector and where the choicest resources lie.

Along the lines of social networks and sharing reddit and Idealist have come together to bring us IdealistNews, a place to post, rate and comment about news articles the feature charitable issues.  Check it out and see what others think is relevant to the nonprofit sector.

A nice resource for nonprofit boards of directors are these videos from BoardSource.  The eleven videos will walk you through the basic responsibility of nonprofit boards, including financial matters.

Been laid off?  Planning on laying people off?  This Guide to Surviving Layoffs might be a good page for helping you and others get back on your feet.

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Posted in Governance, IRS, Nonprofit Accounting, Tax Forms

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