Charities and nonprofits love to receive donations, but many face challenges when they get noncash contributions, or “gifts in kind.”
This is a common thought running through the minds of many Controllers of not-for-profit entities, especially during times when fundraising events are being held.
As accounting professionals who specialize in nonprofit organizations, we’re often presented with opportunities to strengthen our clients’ financial position and, in turn, serve our communities both directly and indirectly.
I recently read an article published by the National Federation of Independent Business entitled 6 Ways Small Businesses Can Give Back to Their Community.
Posted by Christina K. Bell With the start of baseball season, many American hometowns take great pride in their local youth sport teams. Unfortunately, some local leagues trade in town pride for town headlines. Last month, news broke that a softball program volunteer had stolen approximately $13,000 from the program causing them to charter with another program. The Association of … Continued
Posted by Jonathan D. Moll, CPA Donations of services can be useful to your organization during tough economic times. But should you record them in your financial statements? And, if so, what amounts should you assign? FASB Accounting Standards Codification (ASC) 958, Not-for-Profit Entities, specifies when a nonprofit should recognize the fair value of services in its financial statements. There are two … Continued
Posted By Jenni Fleck Jones, Marketing Manager I am the marketing manager for our firm and was asked to be a guest blogger for a professional services marketing blog. As I was writing my post, I quickly realized how the topic goes far beyond the professional services industry and how it certainly applies to the nonprofit industry. The main point … Continued
Posted By Christina K. Bell When I began working with nonprofit organizations on an ongoing basis several years ago I never could have imagined the impact these organizations would have on my life. When I saw firsthand the outpouring need for the services nonprofits offer and how exceptionally well these services are performed, very often on limited means, I couldn’t … Continued