filed in Fraud on Oct.13, 2009
Has your organization had to do a layoff for furlough due to the current state of the economy? It’s not uncommon for many organizations to deal with unstable times through some type of workforce reduction. While reducing your workforce will save money in employee salaries and benefits, it’s essential that organizations assess their current state [...]
filed in Not-For-Profit (non-profit) Accounting on Oct.06, 2009
A recent Tax Court case has brought to our attention a taxable event that can catch nonprofit organizations by surprise.
We all know that certain income from debt-financed property can result in unrelated business taxable income. This is normally rent that is collected on mortgaged property. The nonprofit is taxed on the net rental income, at [...]
filed in Filing on Sep.08, 2009
Often, nonprofit organizations will open an account in a foreign country. These accounts are usually temporary and set up to provide controls over special projects or a particular fund raising campaign.
These accounts can be opened and closed within the same year, and, as your accountant, we may not even know they existed. It is very [...]
filed in Loans, Money on Jun.09, 2009
A recent article about loan covenants describes them as “a loan’s bank-installed automatic braking system.”
What you should know about bank loan covenants:
- You are expected to read and understand then before signing your loan document, because once that document is signed you are bound to the terms and conditions regardless of your understanding of them.
- [...]
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