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Credit Card Use: Having a policy can thwart misuse

When it comes to fraud in an organization, credit cards are frequently a fraudster’s tool. Because the use of credit cards is so commonplace today, there’s always the risk of improper charges to your account. Credit card misuse could. Read More >>

Accounting for Contract Exchange vs. Contribution

Revenue Recognition Your Nonprofit Should Know Distinguishing the various types of nonprofit revenue transactions can be tricky, especially when it comes to contributions versus contract exchange revenue. And with the implementation of the new Financial Accounting Standards Board (FASB). 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 >>

Reporting Rule Changes for Nonprofits: ASU 2016-14

Accounting Standards Update 2016-14 Not-for-Profit Entities (Topic 958) Presentation of Financial Statements of Not-for-Profit Entities The Financial Accounting Standards Board (“FASB”) issued an accounting standards update in August 2016 to improve the information provided in not-for-profit financial statements and. Read More >>

Libman, Skakun, Recognized for Commitment to Community

Bober Markey Fedorovich (BMF) is pleased to announce that two of its members have been recognized for their continued commitment and ongoing efforts for the betterment of our communities. Keith Libman, partner, has been named to the 2016 Class. Read More >>

Nonprofit Fundraising: 5 Ways to Account for Promises to Give

July 27, 2016 “Promises are like crying babies in a theater, they should be carried out at once.”  – Norman Vincent Peale Ah, if it was only so easy. In the world of nonprofit fundraising, much-needed support often comes. Read More >>

The Give and Get: How to Build a Fundraising-Friendly Board

May 10, 2016 Make no mistake: Your board is the single most powerful fundraising tool you have. Yet, the ability to be an eager and effective solicitor of gifts is not always a given. Your board members may need. Read More >>

Executive Sessions: What They Are and Why You Should Have Them

A private conversation among board members seems to fly in the face of the openness and transparency expected of today’s nonprofits. Managed appropriately, however, executive sessions are a vital part of the board process. An executive session is essentially. Read More >>

Financial Literacy: Does Your Board Really Know the Numbers?

Nonprofit board members have a legal obligation to the organization’s fiscal health. Yet, many struggle to fulfill their fiduciary duties related to budgeting, finance and oversight. The culprit is often a fundamental disconnect between the nonprofit and for-profit worlds.. Read More >>

Nonprofit Funding Matters: Revenue Diversification: Think Like a Growing Business

August 6, 2015 Many nonprofit organizations are quick to celebrate short term funding successes without exercising the proper degree of caution about the sustainability of those sources.  In a growing for-profit business, management is constantly expanding its product offerings,. Read More >>