filed in Fundraising on Mar.02, 2010
Both the Form 990 and your financial statements are required to disclose any joint costs that have been allocated. Many times our clients will respond to our inquiry about such costs with an explanation of how they allocated the cost for this one activity between the two programs to which it related. While we appreciate [...]
filed in Gifts on Dec.01, 2009
Recently, a group of philanthropic organizations developed a Donor Bill of Rights. They are valuable to all donors and a timely reminder as we contemplate year end donations.
I. To be informed of the organization’s mission, of the way the organization intends to use donated resources, and of its capacity to use donations effectively for their [...]
filed in Board Member on Nov.17, 2009
I recently read some interesting information on BoardSource (boardsource.org) about issues with non-profit organizations not using their boards to their fullest potential.As auditors, we see a wide variety of board member involvement. Some are very hands on, and, unfortunately, some exist in name only.
Common board member responsibilities include:
- Attend all board and committee meetings [...]
filed in financial statements on Aug.25, 2009
If you have a fiscal year end of June 30, 2009, there is a new disclosure requirement for your year end financial statements.
Statement of Financial Accounting Standards No. 165 requires that a disclosure be included in the footnotes to your financial statements that provides a date through which subsequent events have been evaluated.
Subsequent event disclosures [...]
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