Automated giving programs are on the rise as a convenient way to boost monthly charitable nonprofit revenues. Sometimes called recurring givers, donors who choose this method can give the same amount at regular intervals, usually through credit card transfers or automated account deductions. Here are some strategies to create or increase monthly automated giving programs. But first, consider the additional work required: Educate your team and ... more
Archives for June 2019
GAAP Alternatives Extended to Not-for-Profit Financial Reporting
In an effort to make accounting less complicated and less costly for not-for-profit financial reporting, FASB recently announced a new standard that will extend two GAAP alternatives that were originally developed for private companies. The standard will make not-for-profits eligible for the private company alternatives on accounting for goodwill and accounting for identifiable intangible assets in a business combination. An announcement in ... more
NPOs Must Review Procurement Policies Regarding Federal Awards
Not-for-profit organizations (NPOs) that receive federal money in the form of loans or grants will probably need to update their written procurement policies to conform to the new federal requirements. Previously only applicable to state and local governments, NPOs that receive federal awards are now included in this requirement under the new Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (aka ... more