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Is a Health Insurance Captive Right for Your Organization?
Posted by Joe Ellis on Wed, Mar 27, 2019 @ 10:26 AM

In this day and age, it’s not unusual for company decision-makers to become furious with insurance carriers for frequent and substantial health benefit plan cost increases. Even more infuriating, carriers are often unwilling to supply any reason for such a rate action by not providing indication about medical claims, high amount claimants, prescription drug usage, and so on. This happens for many companies with 50-to-250 employees.

When companies are willing to implement programs that help employees reach and maintain personal health, it’s time to get creative. Controlling costs is possible when you look for innovative risk management tools. One of those tools is self-insurance, and another tool is a “captive” insurance company. Captives afford an additional layer of risk protection beyond self-insurance. And, for small-to-mid sized employers, captives can be especially useful tools.

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Topics: not-for-profit, employee benefit plan, Health care, Lower Benefit Costs, health insurance, captive insurance, Joe Ellis

Signs Your Not-For-Profit Needs an Executive Compensation Study
Posted by Hal Wallach on Tue, Mar 26, 2019 @ 07:53 AM

When it comes to what not-for-profit organizations should pay their top executives, the “instructions” are not always clear or obvious. The directive is that compensation should be “reasonable”, but reasonable may mean different things depending on who you ask. Your board could have an idea for a figure that is convenient for the budget, but would not attract the quality candidate that your organization needs to further its reach. On the other end of the spectrum, your compensation package may be outsized for the type of organization you operate, which risks drawing the ire of regulators and the community you serve.

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Topics: not-for-profit, NFP, executive compensation, compensation risks, retain talent, Hal Wallach, not-for-profit salaries

Definition of ‘Collections’ Clarified
Posted by Mark Winiarski on Mon, Mar 25, 2019 @ 12:57 PM

Not-for-profit organizations that hold collections received some much-needed clarification from the Financial Accounting Standards Board (FASB) that will eliminate a diversity in practice. The clarification arrives in the recently issued Accounting Standards Update 2019-03, Not-for-Profit Entities (Topic 958): Updating the Definition of Collections (ASU 2019-03).

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Topics: not-for-profit, FASB, Mark Winiarski, Financial Accounting Standards Board, U.S. generally accepted accounting principles, collections, American Alliance of Museums, U.S. GAAP

Improve Your Accounting for Fundraising
Posted by Heather Hernandez on Fri, Mar 1, 2019 @ 11:52 AM

As not-for-profit organizations adopt the new financial statement presentation changes, they may want to take another look at their accounting for fundraising costs. Not-for-profits have some flexibility when it comes to allocating costs to fundraising efforts.

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Topics: not-for-profit, financial statements, fundraising, NFP, Heather Hernandez, program costs, accounting for fundraising, joint cost allocation

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