FAQ: How Do I Prepare for my Financial Statement Audit?

  • May 28, 2013

You have an audit coming up and you are apprehensive about how much will be asked of you and what type...

Is a Non-Profit Required to Have a Balanced Budget?

  • February 11, 2013

written by Joe Page The correct answer is no. The following article is in reference to operating budgets and should not...

The Taxpayer Relief Act Preserves the Deduction for Gifts to Charities

  • January 14, 2013

written by Joe Page Although there was much discussion about reducing or even eliminating the deduction for gifts to charities, The...

Is your Charitable Donation Tax Deductible?

  • October 17, 2012

written by Joe Page With the end of another year quickly approaching, many may be considering making charitable contributions as part...

Are You Ready for the Lease Accounting Standards Change?

  • July 23, 2012

written by Joe Page The Financial Accounting Standards Board (FASB) has been reviewing the accounting for leases for several years in...

Ratio Analysis for Not-For-Profits

  • July 2, 2012

written by Joe Page Ratio analysis can be used to improve financial decision making and summarize organizational performance. Ratio analysis is...

Does Your Not-for-Profit Need an Audit?

  • June 4, 2012

written by Joe Page Not-for-profit entities are subject to significant scrutiny from various sources such as contributors and directors to lenders...

The IRS Initiates Project to Review 401(k) Plan Compliance

  • June 21, 2010

According to the IRS web site - 401(k) plans represent the largest retirement plan market segment and have a significant impact on the health of the private retirement system in America. Employee Plans Examinations, previously conducted a baseline study of 79 market segments, and the findings indicated that 401(k) plans are by far the most non-compliant plan type in the retirement plan universe. In an effort to improve plan compliance the IRS is sending a questionnaire to 1,200 randomly selected 401(k) sponsors that filed a form 5500 in 2007. The questionnaires were designed to assess compliance with retirement plan regulations. Plan sponsors who receive a letter will complete the Questionnaire by accessing a special Web site.

Not-for-Profit Entity Corporate Governance

  • June 14, 2010

It can be an honor to be asked to serve on the board of a not-for-profit entity but doing so comes with a great deal of responsibility. A not-for-profit entity’s board of directors is responsible for establishing the organization’s policies, procedures and overall organization direction. It is also the board of directors that must ultimately answer to the public and the organizations donors.