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Tag Archives: non-profit
Federal Procurement Thresholds: Should an Entity Implement a Lower Threshold?
Federal procurement policies require a maximum threshold of $250,000 of expenditures paid to a vendor for a sealed bid or proposal to be necessary (this is not applicable for Arizona school districts as they are required to follow more stringent … read more
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Tagged bids, federal compliance, government, internal controls, municipality, non-profit, policies, procurement, proposals
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Navigating Part VII of the Form 990
Each year non-profit organizations complete and file the IRS Form 990. The Form 990 requires the disclosure of certain compensation information for select individuals. Below are some pointers to help you navigate this portion of the Form 990. Part VII … read more
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Tagged Arizona, compensation, expenditures, expenses, FASB, Form 990, information return, IRS, non-profit, NPO, payroll, tax return
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Data Analytics – A New Era of Auditing
Artificial Intelligence (AI) is impacting our world in many ways, and the auditing profession is no exception. As a result of the advancements in technology, specifically related to data analytics, auditors are now able to perform audit procedures on entire … read more
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Tagged audit, data analysis, data analytics, data mining, fraud, government, non-profit, NPO
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Spotlight on Monitoring the Financial Health of Your Organization – Statement of Financial Position
Does your organization have the ability to weather unexpected financial challenges? This can be critical to those analyzing your financial statements both internally and externally. The amounts reported within the Statement of Financial Position can provide valuable information regarding the … read more
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Tagged accounting, Arizona, financial statement, non-profit, not-for-profit, NPO, statement of financial position
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Volunteer Incentives or Compensation?
Many non-profits could not accomplish everything they do without the help of volunteers. Of course you want to recognize and reward them for all they do for your organization. How can you recognize all your volunteers do for you and … read more
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Tagged accounting, Arizona, compensation, non-profit, not-for-profit, NPO, taxes, volunteer gifts, volunteer recognition
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Credit Card Scams Target Nonprofits, Too
Last fall, retail giant Target was affected by a major data breach that involved millions of customer credit and debit card holders. While most fraudsters probably aren’t rushing to make a donation to their favorite nonprofit, it may surprise you … read more
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Tagged 501(c), Arizona, credit card fraud, donations, fraud, fraudsters, New Mexico, non-profit, nonprofit, not-forprofit, online fraud
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Essential Cash Internal Controls for Small Nonprofit Organizations
If your nonprofit organization has just a handful of employees (or maybe only one!), developing appropriate internal controls for cash and bank accounts are critical for maintaining the security of your organization’s funds. Below are some recommended processes to help reduce opportunity … read more
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Tagged Arizona, cash, fraud, internal controls, New Mexico, non-profit, non-profit accounting, not-for-profit, NPO
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