Not too long ago, I attended a presentation on Arizona tax credits for donations to qualifying charitable organization, sponsored by Child Crisis Arizona. I had the pleasure of not only attending the event with Donna, an amazing tax partner here at Henry+Horne, but also of listening to an excellent portion of the presentation done by …
Non-profit GAAP accounting practices for auction and raffle donations.
Many not-for-profit organizations hold special fundraising events with the intent to raise contributions to support their mission, such as galas, balls, dinners, theater parties and auctions. Donor participants purchase tickets to attend the event in exchange for goods or services provided as a benefit to the participant. The direct benefits to the donor participant are …
What is a “collection” in accounting terms? The FASB recognized that there were some conflicting definitions out there and issued a new ASU to get it straightened out. The new definition of collection is: Works of art, historical treasures or similar assets that meet all of the following criteria: (a) they are held for public …
Let’s face it, not many people like change – especially when it comes to their daily routines and their jobs. Change can cause confusion and frustration. I want to take a little time to discuss one of the changes that has affected nonprofit organizations recently. The Financial Accounting Standards Board (FASB) issued Accounting Standards Update …
Just last week a colleague and I had the privilege of organizing and dropping off all our back to school drive items to a great organization. Henry+Horne does a back to school drive each year in July and we typically pick a different organization to support. This year we were able to hold a drive …
Turning first-time donors into long-term donors is always the goal but not often the reality. Gaining new donors is expensive and time consuming and often an organization will lose on the amount of time and money put into gaining that donor if they give only once. If you feel your organization has a difficult time …
On August 5, Henry+Horne had a team of volunteers go to the Desert Mission Food Bank to help make hygiene packs, meat packs, bread packs and sort other food items for distribution to the community. The group was able to make a huge difference by sorting approximately 3,000 pounds of donated items into distributable packs. These …
The Giving USA Foundation (a public service initiative of The Giving Institute) has released their 2017 annual Giving USA Report on Philanthropy in collaboration with The Indiana University Lilly Family School of Philanthropy. Using data from calendar year 2016, the Giving USA report compiles and analyzes data on charitable giving in the U.S in order …
On Saturday, July 15th, twenty-nine of our team members volunteered to craft “Chemo Covers” to benefit Amanda Hope Rainbow Angel’s. Chemo covers are used to cover the toxic warning labels found on chemo bags in order to help reduce children’s anxiety of receiving treatment. Chemo covers are typically decorated with a funny face, felt stickers …