Contact Us Follow Us :       | Find Us |
CBIZ Tofias

Subscribe to Our Blog

Client Satisfaction Survey Results

ClientSatisfaction_new

Follow Us

Frequently Asked Questions About Not-For-Profit Audits
Posted by Joyce Masse Troy on Mon, Oct 23, 2017 @ 04:11 PM

A financial statement audit is bound to produce questions on financial statement reporting, and many are matters that are better addressed before the start of the audit. Questions addressed during the reporting year can save not-for-profit organizations a lot of time during their next audit and could eliminate potential control deficiencies reported as a result of addressing these prior to the audit. The following are among the top questions we routinely hear from our clients.

Read More

Topics: Joyce Masse Troy, not-for-profit, endowment funds, Not-For-Profit Audits, Split-Interest Agreements, financial statement audit, financial statement reporting

Determine Your Organization’s Appropriate Level of Reserves in Five Steps
Posted by Joyce Masse Troy on Tue, Nov 18, 2014 @ 09:31 AM

Reserves for your not-for-profit can be a valuable resource when unexpected challenges arise. Not-for-profits can use their reserve funds to address these unexpected situations and remain financially stable. Additionally, reserves demonstrate to your community and donors that your organization can continue to fulfill its tax-exempt mission during periods these challenging periods.

Your organization’s reserves must come from a designated pool of unrestricted, liquid assets. Other than that, the Internal Revenue Service (IRS) does not have standard guidance about what an organization’s reserve level should be. The appropriate amount will vary from organization to organization because the reserve should reflect specifics about your level of risk, financial performance, corporate structure and business model.

Read More

Topics: Joyce Masse Troy, not-for-profit, reserve funds

Popular Posts

Browse by Tag

see all