Nonprofit observer

Click to access the Fall 2020 Nonprofit Observer Newsletter. Articles in this issue include: Reduce your costs to cope with COVID-19 Audit prep: 6 ways to save time and money Corporate matching programs: Still popular after all these years FASB proceeds with guidance on gifts in kind  

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donations

Corporate matching gift programs are an almost surefire way to make the most of charitably minded companies and their gift-giving employees. According to Giving in Numbers: 2019 Edition by the Committee Encouraging Corporate Philanthropy, nine out of 10 responding companies said they offered an employee matching gift program. The resulting donations accounted for nearly 11%…

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hands holding present

Many nonprofits rely on contributions of nonfinancial assets, such as fixed assets (land, buildings, equipment), services, and materials and supplies. New rules from the Financial Accounting Standards Board (FASB) are intended to increase transparency around such donations. The FASB is finalizing a new standard on handling gifts-in-kind donations. It released a proposed Accounting Standards Update…

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image of the word audit

Amidst an economic crisis, the idea of undergoing an external audit may not be appealing. But it’s a valuable tool for demonstrating your financial condition to stakeholders — perhaps more important than ever in the shadow of COVID-19. Here are some preparatory steps you can take to make the annual audit process less expensive and…

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Photo of cash with "COVID-19" written on top

Nonprofits of all kinds once again face a nationwide economic crisis, this time caused by the COVID-19 pandemic. The challenges are daunting, but previous recessions may provide a road map for helping organizations navigate the far-reaching effects of the virus. The path forward starts with strategic cost-cutting that contains expenses but allows you to continue…

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image of man and women reading papers

Employee fraud costs industries billions of dollars a year. It’s important to be aware of the potential for misdoings in your healthcare practice, organization or business and take steps to prevent them by closing down opportunities. Ensure that your internal controls are designed to provide maximum protection. What is it? The most common forms of…

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business women in office

Please watch below for an overview on how we plan to conduct your audit this year remotely. Our team of audit professionals discuss the remote audit process, virtual and on-premise accommodations, and the technology platforms we will use to communicate and share files. The CARES Act Paycheck Protection Program and other regulatory changes that may…

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It can be a tough scenario to confront: First you sent your employees home to work remotely due to the COVID-19 pandemic. Now they want to stay there permanently. Should you allow employees to work from home more than they have in the past? Or do you think “This just isn’t working” for one or…

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