Thought Leadership

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Mastering the New Data Collection Form for Single Audits

Even though changes in Form SF-SAC (Data Collection Form) from the Federal Audit Clearinghouse (FAC) may not sound significant, there are some potential “gotchas” entities should be aware of. Most importantly, you must now include text describing audit findings, the associated corrective action…

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Community Concept

Tax Update for Nonprofit Organizations

The most recent tax reform legislation has affected almost every taxpayer in every industry, and nonprofits were no exception. The tax bill, known as the Tax Cuts and Jobs Act, altered a few key laws that exempt organizations have relied on for years. Understanding these changes can help nonprofit…

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Spotting Financial Warning Signs for Nonprofits

Board members governing nonprofit organizations can’t miss signs of financial distress such as losing funding sources, defaulting on loans or leaving employees unpaid. Most of the time, though, such crises aren’t sudden; instead, there were subtle indicators that went unnoticed. By keeping an eye…

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Accounting Matters: Keep the Heart of Your Nonprofit Beating

Your accounting department is the heart of your nonprofit. Although departments such as programming or fundraising may seem to have more obvious relationships with your nonprofit’s mission, your accounting function ensures that the whole organization runs well — and remains healthy over the long…

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