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Finding the Middle Ground Between Efficiency and Innovation
Posted by Tracey McDonald on Wed, Nov 20, 2019 @ 03:30 PM

Chief financial officers (CFOs), boards, and donors all want to see their not-for-profit organizations manage their financial resources well. They want as many dollars as possible put toward the programs and activities that further the organization’s mission. In other words, they want overhead and operating costs to be lower than program-related expenses. The question not-for-profits must ask is: are they setting the bar for overhead expenses too low?

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Topics: Non-profits, Not-for-Profits, NFP, operating environment, tracy mcdonald, operating costs, overhead costs, Overhead Caps

The Two Key Financial Statement Changes Not-For-Profit Boards Should Know About
Posted by Tracey McDonald on Wed, May 9, 2018 @ 07:47 AM

As not-for-profit organizations prepare to adopt the new financial reporting requirements of Financial Accounting Standards Board (FASB) Accounting Standards Update 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities (ASU 2016-14), Board members should take an active role in overseeing the implementation of this standard since one of the key fiduciary responsibilities of those charged with governance is to oversee the financial reporting process. ASU 2016-14 is designed to provide more transparency into the financial reporting process of an organization and does so by addressing updates to several areas, including net asset classifications, investment reporting, expenses and the presentation of statement of cash flows information.

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Topics: Non-profits, Not-for-Profits, NFP, Not-for-profit financial statement, board of directors, financial statement audit, financial statement reporting, tracy mcdonald, not-for-profit board of directors

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