Risk Management for Your Organization

Risk Management for Your Organization

In order to fulfill their charge to provide direction and guide an organization, the Board of Directors must manage risk.  Effective risk management involves a process of planning, prioritizing and protecting. In the planning stage, it’s important to identify all the...
Internal Controls in a Remote Environment

Internal Controls in a Remote Environment

Occupational fraud continues to challenge nonprofit organizations.  According to the 2020 Report to the Nations by the Association of Certified Fraud Examiners (ACFE), the median loss to the reported nonprofit organizations was $75,000 and the average loss was...
Parking Tax Repealed for Non-Profits

Parking Tax Repealed for Non-Profits

On December 20, 2019, Congress repealed Section 512(a)(7), commonly referred to as the “parking tax”, imposed on fringe benefits of non-profit organizations pursuant to the 2017 Tax Act.  The provision required tax-exempt employers to increase their unrelated business...
Is Your Nonprofit Governance Up to Date?

Is Your Nonprofit Governance Up to Date?

Like everything else in the world, concepts about governance in nonprofit organizations are evolving. In the US corporate world, The Sarbanes-Oxley Act (SOX) represented an attempt to legislate some basic principles designed to protect the interests of stakeholders by...