Nonprofit accounting: what’s the definition of a collection?

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 …

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Net asset classifications: change is here!

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 …

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Treasures 4 Teachers back to school drive

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 …

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Donor retention, how good is yours?

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 …

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Henry+Horne volunteers at Desert Mission Food Bank

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 …

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2017 annual Giving USA Report released

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 …

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Nixing the stereotype. Accountants are creative too!

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 …

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Henry+Horne volunteers at Ryan House

On Saturday June 24, six other Henry+Horne team members and I had the privilege of volunteering at a local organization, Ryan House. If you have never heard of Ryan House, please take the time to read this and go to their website, because it truly is an amazing organization. Ryan House partners with families to …

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How does your nonprofit qualify to receive tax credit donations?

The holiday season is usually one associated with giving as the nationwide Giving Tuesday recently passed. This day has become a major revenue raiser for charities, bringing in over $117 million in charitable donations in 2015, according to NBC. If your organization didn’t participate in Giving Tuesday or it didn’t qualify, don’t fret as a …

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Henry+Horne’s October community service

Henry+Horne’s October community service event took place on Sunday, October 23rd. If you were in Tempe you may have seen us in our green shirts along with hundreds of other people as we participated in the Autism Speaks Walk. This walk was either a 5k or 1 mile walk that took place Sunday morning starting …

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