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All About Nonprofit (2)

What Nonprofits Need to Know About Functional Expenses

The issuance and implementation of the FASB nonprofit financial presentation standard, Accounting Standards Update (ASU) 2016-14, back in 2016 resulted in changes to the presentation of GAAP-based financial statements for nonprofits. These changes were...
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What Your Nonprofit’s Financial Statements Reveal [Video]

The numbers on your nonprofit’s financial statements tell a colorful story ― if you know what to look for. Nonprofit CEOs, executive directors and board members who have a solid understanding of financial statements typically make better decisions for...
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Budgeting Best Practices for Nonprofits

Creating and managing your nonprofit’s budget probably isn’t a favorite annual task. Though budgeting may feel tedious or even overwhelming, having a clearly established budget plays a key role in your nonprofit’s ability to successfully execute its...
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Maryland Extends Deadline for MarylandSaves Exemption to December 31, 2023

It has been quite some time since Maryland’s general assembly passed MarylandSaves in 2016. After much delay, Maryland finally put its retirement vehicle into motion on September 15, 2022, in the form of a Roth IRA account. Now that the program has been...
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How to Write a Nonprofit Audit RFP [Plus an Audit RFP Template for Nonprofits]

Hot dog, it's time to issue an RFP for audit services, said no nonprofit ever. If you’re like most nonprofit audit committee members and executive directors, you cringe just a little when it comes time to solicit proposals for a new audit firm. As an...
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4 Key Insights From an Employee Benefit Plan Auditor

With employee benefit plan audit season not too far in the rearview mirror, it’s a good time to reflect on lessons learned. I’m sharing a few insights, from the point of view of an employee benefit plan auditor, for clients who are required to have their...
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