Success of your religious or charitable organization is largely dependent on strong financial leadership. Yet even for the most seasoned business professional or board member, regulations specific to the nonprofit industry may prove challenging without the assistance of an experienced accountant. With the specialized characteristics of your nonprofit organization and the complex Internal Revenue Service’s […]
Filed under: General, Internal Control, Tax by OSA&C Tuesday, February 20th, 2018
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Most nonprofit organizations collect donations year-round, so continuous vigilance in protecting your donors’ goodwill and generosity must remain top priority. Unfortunately, with the consistent influx of monetary donations comes the perpetual risk of theft. Nonprofits, along with all other companies, must follow good business practices throughout the year. Never let your own sense of goodwill […]
Filed under: General, Internal Control by OSA&C Tuesday, January 23rd, 2018
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For many of us, beginning a year wouldn’t be complete without the tried and true New Year’s resolutions. Scores of us vow to start eating healthier and exercising regularly. If you’re a fan of setting individual goals for the year, don’t forget goals for your faith-based or nonprofit group. It’s a great time to examine […]
Filed under: General, Internal Control by OSA&C Tuesday, January 9th, 2018
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Most of us think Mondays are a drag, but what about the rest of the week? Neil Amato wrote in Chartered Global Management Accountant® magazine about an Accountemps survey regarding the best and worst days for U. S. workers. Survey says . . . Thursday and Friday are days we’re easily distracted, making them our […]
Filed under: General, Internal Control by OSA&C Tuesday, August 29th, 2017
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In nonprofit and commercial organizations alike, we want to think our employees (or volunteers) exude sterling characters who wish the best for both our organization and their fellow colleagues. Sadly, this isn’t always the case, and even people we trust implicitly may be tempted to conduct deceptive bookkeeping in times of personal downturn. Although many […]
Filed under: General, Internal Control by OSA&C Wednesday, June 28th, 2017
Comments Off on People Still Pay by Check: Beware of Tampering
While most nonprofit organizations collect donations year round, you likely experience an increase in gifts during the holiday season. Donors feel an increased sense of goodwill and generosity, but unfortunately, the risk of theft rises along with the extra money. Nonprofits, along with all other companies, should follow good business practices throughout the year. Don’t […]
Filed under: General, Internal Control by OSA&C Tuesday, December 13th, 2016
Comments Off on Be vigilant this holiday season!