According to a recent article in Forbes by sponsored content provider, Forbes Nonprofit Council, financial advisors are having their clients consider bundled gifts to their favorite charities or donor-advised funds every few years rather than annually. The idea is that a more substantial amount given every three to five years will cause their itemized deduction amount to rise above the new higher standard deduction level established with the Tax ... more
Archives for November 2018
Managing the Influence of Donor-Advised Funds
To what extent should donor-advised funds influence the mission and outcomes of not-for-profit organizations? This question is part of a larger debate about what some are calling “The New Gilded Era” of philanthropy: although levels of giving are way up, the gap between rich and poor is expanding. In a recent article in The New Yorker, staff writer and author Elizabeth Kolbert noted that while thefederal deduction for charitable contributions ... more
Proactive Advising Helps Nonprofit Developer Fulfill Their Community Mission
When Chinatown Community Development Center (CCDC) began working with Lindquist, von Husen & Joyce, LLP (LvHJ) 3 years ago, it wasn’t because they made the choice, but rather because the firm they were with retired their services and selected LvHJ to take over their clients. It’s a fortuitous situation that Karen Gansen, CFO at CCDC, has been very happy about. “We were incredibly relieved that LvHJ was selected to take over our business,” ... more
Consolidating Financial Statements Took Nonprofit Developer “to Next Level”
In the fall of 2015, Mutual Housing California leadership had a decision to make. The Sacramento-based developer and advocate of sustainable, affordable housing had grown beyond the capacity of its existing CPA firm. Lindquist, von Husen & Joyce, LLP (LvHJ) stood out for several reasons, according to Julie Goldfine, CPA, Mutual Housing California Chief Financial and Operating Officer. First of all, LvHJ was recommended by one of Mutual ... more
Long Term Partnership for Bay Area Developer and CPA Firm
The relationship between Resources for Community Development (RCD) and Lindquist, von Husen & Joyce, LLP (LvHJ) goes way back. So far in fact, that Kate McKean, Controller for RCD, doesn’t recall a time without LvHJ by their side. The Bay Area developer of sustainable, affordable housing has been an advocate for seniors, low wage working families and individuals with special needs for almost 35 years. Working with a CPA firm who is also a ... more
Make Your Nonprofit’s Accounting Function More Efficient
How efficient is your not-for-profit? Even tightly run organizations can use some improvement — particularly in the accounting area. Adopting the following six tips can help improve timeliness and accuracy. Set cutoff policies. Create policies for the monthly cutoff of invoicing and recording expenses — and adhere to them. For example, require all invoices to be submitted to the accounting department by the end of each month. Too many ... more