Not-for-profit organizations must manage issues unique to the industry in which they operate. Many not-for-profit organizations have experienced a decline in charitable giving, and are negatively affected by the stock market.
Decreases in the stock market have seriously impacted the availability of income generated by endowed funds for operations and for special projects. Organizations must think creatively to develop balanced operating budgets. Consideration should be given to mergers or the developement of alliances with other not-for-profit organizations to share resources or to better deliver services to the public.
Director liability and accountability is also generating concern by board members and the public. New accounting pronouncements, audit and compliance requirements for federal and state awards and income tax issues continue to present challenges in the not-for-profit industry.
Fincancial Accounting Standards Board publishes Board minutes on Not-for-Profit Endowment Funds and UPMIFA, for more click here.
We have been providing audit, accounting, tax and consulting services to not-for-profit organizations for over 30 years.
Our Not-for-Profit Industry Group members provide exceptional advisory, compliance, and tax services to numerous organizations and are recognized for the outstanding value of both their services and their commitment to the industry.
Our professionals are known and respected throughout the region for their expertise in the not-for-profit arena.
Please click here to read our Not-For-Profit industry newsletter.