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Main Street Index: Financial Performance Falters for NFPs in Q3 2021
Posted by Mike Burns on Tue, Nov 2, 2021 @ 04:00 PM

The CBIZ Main Street Index report takes the pulse of organizations like yours and provides useful data and insights for your organization to leverage. The information below highlights the data from Main Street Index for the Not-For-Profit Industry. See how your organization compares to other not-for-profits in the areas of revenue, growth areas, and workforce arrangements. 

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Topics: NFP, nonprofit, Nonprofit Board, cyber risks, COVID-19, higher education, revenue, post-pandemic, hybrid, main street index results, ransomware, employee vaccination

Main Street Index: Not-For-Profit Industry Report
Posted by Mike Burns on Thu, Aug 26, 2021 @ 11:30 AM

The CBIZ Main Street Index report takes the pulse of organizations like yours and provides useful data and insights for your organization to leverage. The information below highlights the data from Main Street Index for the Not-For-Profit Industry. See how your organization compares to other not-for-profits in the areas of revenue, growth areas, and workforce arrangements. 

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Topics: NFP, nonprofit, Nonprofit Board, COVID-19, Paycheck Protection Program, PPP, higher education, ERTC, health and human services, revenue, emergency disaster loans, post-pandemic, hybrid, main street index results

The Higher Education Sector Is in the Crosshairs of Cyber Criminals
Posted by Ray Gandy on Thu, Jul 29, 2021 @ 12:00 PM

Higher Education continues to be an attractive target for cyber criminals. In July 2020, Comparitech reported that 1,327 data breaches in the education sector had resulted in the exposure of 24.5 million records since 2005. Higher education accounted for three-quarters of those breaches. Why not, with the gold mine of data that pays the bills for cybercrime, including students, families, employees, faculty, partners and donors’ information?

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Topics: enterprise risk management, Chief Financial Officers, CFO, NFP, board members, cybersecurity, cyber risk assessment, nonprofit, Nonprofit Board, cyber attacks, Ray Gandy, risk assessment, higher education, NIST

New Compliance Supplement Key Takeaways
Posted by Michelle Sylvia Spriggs on Tue, Jul 27, 2021 @ 11:46 AM

On July 27, 2021, the Government Audit Quality Center of the AICPA announced that the initial 2021 compliance supplement relative to federal awards is expected to be released in August 2021. This should resolve much of the ambiguity around major program determination and testing requirements for this year. The key take-away points are as follows:

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Topics: AICPA, NFP, nonprofit, Nonprofit Board, COVID19, higher education, SEFA, health and human services, HEERF, Provider Relief Funds, compliance supplement

Reporting Requirements Impact Private Colleges and Universities
Posted by Mike Burns on Thu, Jul 9, 2020 @ 09:29 AM

New requirements will affect private college and university entities in 2020. All entities will be required this year to include in their financial statements additional supplemental information that will allow the United States Department of Education (DOE) to link the support for the various elements that go into the so-called “Composite Score,” which is used to establish the financial health of private colleges and universities. We expect most organizations to include this information in the Uniform Grant Guidance version of their reports as an additional supplemental schedule. It is expected there will be some impact on the level of detail in the footnotes of the basic financial statements to ensure that every element can be tied directly to the financial statements.

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Topics: reporting requirements, not-for-profit, NFP, Department of Education, Uniform Grant Guidance, DOE, Financial Statement, COVID-19, NACUBO, higher education, private university

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