Nonprofits will soon have clearer guidelines by which to recognize and classify revenue from grants, contracts and contributions, thanks to a new standard proposed this summer by the Financial Accounting…
Six Questions to Ask for a More Engaged, Effective Board
An effective board of directors is key to an accountable, successful organization. What does an effective, engaged board look like? Beyond the traditional financial, policy, compliance and mission-driven roles, a…
FASB Changes to Bring More Context Around Nonprofit Liquidity and Cash Flow
The financial statements of not-for-profit organizations will soon undergo a significant transformation, courtesy of the Financial Accounting Standards Board (FASB). As part of its response to stakeholder feedback to improve…
Nonprofits: Don’t Overlook This Tax-Advantaged Way to Raise Funds
Editor’s note: On April 20, Governor Tom Wolf signed into law Act 15 of 2020. The law addresses a number of critical local and state government issues related to timing,…
Why Board Reporting Must Align with Strategic Planning
An engaged, effective board is critical to the successful execution of an organization’s mission and achievement of its vision. Far too often, however, the information and data the board rely…