I have personally known Mark Patrick since 1988. I have worked with him both professionally at the corporate level and personally as he has been my accountant. It is without hesitation that I would recommend him and his company.
Edmond P. Nash
To administer productive programs worthy of your not-for-profit’s budget, you need to determine whether they’re meeting clients’ needs. In general, the best way to assess this is by surveying participants. But survey fatigue — frustration or disinterest when asked to take yet another online survey or one that’s overly complicated or takes too long to […]
In 2023, Indiana University’s Lilly Family School of Philanthropy released a public opinion survey that provided both good and bad news for nonprofits. Although the respondents said they trust philanthropic organizations more than government and businesses, 30% believe that not-for-profits are on the “wrong track.” Only 18% say charities are on the “right track.” (The […]
Alternative investments may appeal to your not-for-profit because they often offer higher long-term performance than traditional securities do. But these investments can come with tax liabilities. They also typically are riskier, which may not be appropriate for your organization. Here’s what you need to know. No easily ascertained value Alternative investments generally are defined in contrast to […]
Comprehensive risk management is one of the primary responsibilities of not-for-profit leaders. You probably regularly consider and act to mitigate risk to your facilities and assets and your staffers and clients. What about your volunteers? Even though the federal Volunteer Protection Act of 1997 provides some protection, volunteers face the real risk of being sued […]
There are many reasons why a 501(c) tax-exempt organization might consider restructuring. For example, a financially struggling nonprofit might decide to join forces with another organization to cut costs and share resources. Or a nonprofit might decide to change its state of organization. Such changes generally qualify for a simplified restructuring process. However, it’s important […]
When the Inflation Reduction Act (IRA) became law in late 2022, you might have assumed that the tax breaks it contained wouldn’t affect your tax-exempt organization. That’s not the case. One IRA provision could help reduce construction project costs if you use energy-efficient materials and qualified labor. Another could provide direct cash payouts of certain […]
When’s the last time you evaluated your not-for-profit’s social media strategy? Are you using the right platforms in the most effective way, given your mission, audience and staffing resources? Do you have controls to protect your nonprofit from reputation-damaging content? These are important questions — and it’s critical you review them regularly. At the very […]
Even if your not-for-profit organization rarely needs to reimburse staffers, board members or volunteers, reimbursement requests almost certainly will occasionally appear. At that point, will you know how to pay stakeholders back for expenses related to your nonprofit’s operations? If you have a formal reimbursement policy, you will. Plus, you’ll be able to direct individuals […]
Some provisions of 2022’s SECURE Act 2.0 (a follow-up to the SECURE Act of 2019) have been in force for over a year — including several that affect 403(b) retirement plans. If your not-for-profit offers staffers a 403(b) plan, you likely made some minor changes in 2023 and may have made more significant ones on January 1, […]
Not-for-profits aren’t required to produce audited financial statements. But audited statements are more likely to reassure big donors and grant makers about your financial stability and generally will be required if your organization applies for a bank loan. When you hire a CPA to audit your statements, the auditor is responsible for expressing an opinion […]
