BREAKING NEWS

Richard C. Fedorovich to Receive H. Peter Burg Award

Richard C. Fedorovich has been selected as the 2023 recipient of the H. Peter Burg Economic Development Leadership Award, presented by the Greater Akron Chamber.

Articles & Publications

Operating Reserves: Is Your Organization Safeguarded?

COVID-19 brought to the forefront the necessity of having a strong balance sheet for nonprofits. Those organizations with limited liquidity and minimal reserves struggled mightily in fulfilling their missions. But those entities with ample resources not only survived but. Read More >>

Presentation and Disclosure of Nonprofit Nonfinancial Gifts In-Kind

August 11, 2021 Nonprofit

In September 2020, the FASB issued Accounting Standards Update 2020-07 (“Update”), Not-for-Profit (nonprofit) Entities (Topic 958) Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets, as the result of concerns regarding the lack of transparency around how a. Read More >>

Protecting Donor Information: Is their identity at risk?

November 14, 2019 Nonprofit

Online giving has grown considerably over the last several years. For nonprofits without the appropriate IT infrastructure and security policies, these increased online donations can also mean greater risk for cybercrimes. While all businesses are at risk for cyberattacks,. Read More >>

Nonprofit Trends: Online Revenue and Retention, Digital Advertising and Employee Satisfaction

August 26, 2019 Nonprofit

Two main focal points for nonprofits include donor support and employee satisfaction, including the retention of both. The annual M+R Nonprofit Benchmark Study is an in-depth exploration of what’s changing for nonprofits and their supporters. The study is based. Read More >>

New Rules Clarify Nonprofit Accounting for Grants and Contributions

When the Financial Accounting Standards Board (FASB) released new rules for revenue recognition, contributions were specifically excluded from the scope of the revenue recognition standard. This prompted the FASB to provide further guidance in its Accounting Standards Update (ASU). Read More >>

Revenue Recognition Issue 12 – Special Focus: Nonprofit

The good news for nonprofits is that contribution revenue was determined by the accounting standard setters to be “out of scope” for these new standards. Accordingly, no assessment of contribution revenues is required; however, these organizations don’t just get. Read More >>

Take Control: Your Nonprofit’s Future Starts with a Strategic Plan

September 18, 2018 Nonprofit

Every organization can benefit from a strategic plan that defines its mission and values and outlines strategic goals and the steps necessary to achieve them. Frequent adjustments and updates can keep the plan relevant to your changing environment. If. Read More >>

Nonprofit Insights: Nonprofit Internal Controls Fight Technology-Related Fraud

The ability to make and accept online payments and maintain databases (with detailed constituent profiles) offers obvious benefits to nonprofits under time and financial pressures. But it may also be subject to fraud attempts that can dodge your traditional. Read More >>

The Care and Feeding of Nonprofit Executives: How to Balance Fair Compensation and IRS Requirements

The CEO of a nonprofit organization is the most visible, and likely, the most influential position in the organization. Great efforts should be expended in recruiting and retaining the right person for the job. It is vitally important to. Read More >>

Nonprofit Funding: A Closer Look at Quasi-Endowments

The concept of an endowment is well known to anyone in the nonprofit world, which is restricted funds that create indefinite investment income for a specific purpose. There are two principal categories of donor established endowment funds as follows:. Read More >>