Not-for-Profit

Not-for-profit organizations face many challenges in attracting and retaining executive talent. Compensation programs (types and amount) that can be offered to these executives are much more limited than those which are offered to private sector executives.  Many organizations do not have in-house capabilities to analyze and propose programs that provide competitive compensation. Donors may perceive that executives are overpaid, and are therefore the organization is providing fewer services....

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As nonprofits plan for growth in a struggling economy, they must take a careful approach to change. Failing to do so could result in a loss of donors, a missed opportunity in structuring their boards, or the potential misuse of social media.

As nonprofits look to grow, it is critical that they not lose sight of the key resources and assets that they already have in place. It would be a real shame to lose something of value in your efforts to grow the organization.

Smart Business spoke with...

CLEVELAND – Skoda Minotti is pleased to announce an educational not-for-profit seminar, featuring nationally recognized not-for-profit expert Dick Larkin, as well as other industry experts, on June 21, from 7:45-11:30 a.m. at 700 Beta Banquet and Conference Center in Mayfield Village. The seminar is free-of-charge.

Larkin is the Technical Director for Not-for-Profit accounting and auditing for the Institute for Nonprofit Excellence in the Washington, D.C. office of BDO USA, LLP. Previously he was...

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Some restaurants are re-sizing their portions' sizes due to the economy.  When the IRS updated the Form 990 in 2008, they designed it to re-size itself through 2010 – effectively having it apply to more nonprofit organizations each year.

The Form 990 EZ is a smaller version of the 990 (think of a kid’s meal vs. a double burger deluxe).  Initially, organizations with under a $1 million in revenue and under $2.5 million in assets could file the EZ.  In 2009, the threshold dropped to $500,000 in...

The Pension Protection Act of 2006 mandated that organizations required to file Form 990 series informational returns would automatically lose their exempt status if the forms were not filed for three years in a row (section 6033(j)(1)). The Act also created a new form, the Form 990-N, Electronic Notice (e-Postcard), for most small organizations with less than $25,000 in gross receipts. Previously, these small organizations were not required to file any return at all. Thus, small organizations...

The original ‘milestones’ in ancient times often had no markings of distance or location on them. Today, we use the term in contractual agreements of various sorts, often with very detailed definitions of what it means to reach a milestone. Research and development projects often include required milestones that must be met; until recently, the existing guidance was subject to interpretation. The Financial Accounting Standards Board (FASB) has recently issued guidance as it relates to...