It takes more than dedication and enthusiasm for your not-for-profit’s cause and programs to make a good board member. The most critical duty for all board members is being a fiduciary.

a group of people sit in a conference room around a wooden desk with someone leading discussion at the table head writing on a whiteboard; image used for blog post about in-person not-for-profit board retreats

This means, among other things, that they can be trusted to always act in their not-for-profit’s best interests, avoid unnecessary risk, make decisions thoughtfully and execute them efficiently.

Continue Reading The Fiduciary Duties of Not-for-Profit Board Members

As the COVID-19 pandemic finally seems to be fading in the United States, your not-for-profit organization may be making plans for its post-pandemic future. Is a merger with another not-for-profit part of these plans?

two men in suits shake hands; image used for blog post about not-for-profit merger after pandemic

A merger can provide your organization with greater stability and resilience so that you can survive any new challenges that comes your way. But a merger isn’t always the best solution if, for example, you’re looking for a financial rescue. Here’s a rundown of good — and bad — reasons to join forces.

Continue Reading Is Your Not-for-Profit Thinking About a Merger?

What is good not-for-profit governance? How can organizations spot red flags of bad governance and avoid fraud? PKF Texas Directors, Nicole Riley, CPA, CFE, and Emily Smikal, CPA, shared their insight in our Zoom webinar on May 12, 2021, “Governance Gone Bad: Lessons Learned to Help Your Not-for-Profit.”

promotional graphic for Zoom webinar, Governance Gone Bad: Lessons Learned to Help Your Not-for-Profit, featuring PKF Texas Nicole Riley and Emily Smikal

Continue Reading Recap: “Governance Gone Bad” Not-for-Profit Webinar

If your not-for-profit organization accepts contributions of nonfinancial assets, such as land, services and supplies, you should know about Financial Accounting Standards Board (FASB) rules approved last year. Accounting Standards Update (ASU), Not-for-Profit Entities (Topic 958): Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets is intended to increase transparency around gifts in kind.

black box gifts with golden ribbon bows; image used for blog post about not-for-profit rules about gifts in kind

Continue Reading The New Accounting Rules for Gifts in Kind

As trusted business advisors, we enjoy working with you to co-create ideas and co-develop innovative solutions for your business. Even amidst the COVID-19 pandemic, we still want to continue providing valuable information, including upcoming Houston events that we support, and think may be of interest to you.

  • Houston Business Journal
  • Client Exclusive: Not-for-Profit Webinar
  • Holocaust Museum Houston
  • Turnaround Management Association
  • National Association for Corporate Directors

If you have questions about any event details or registration information, the organization-specific contacts are below. We hope to see you at any or all of these Houston events!

Continue Reading Mark Your Calendars! Upcoming May 2021 Houston Events…

Not-for-profit organizations may operate under the assumption that their missions and their board members’ good intentions protect them from litigation. Sometimes, this assumption is proven wrong with a lawsuit. To protect your leaders from financial exposure, consider directors and officers (D&O) liability insurance.

man writing on papers; image used for blog post about not-for-profit D&O Insurance reducing liability risk

This coverage allows board members to make decisions without fear that they’ll be personally responsible for any related litigation costs.

Continue Reading D&O Insurance Can Reduce Liability Risk

Jen: This is The PKF Texas – Entrepreneur’s Playbook®. I’m Jen Lemanski, and I’m back again with Nicole Riley, an Audit Director and one of the faces of the PKF Texas not-for-profit team. Nicole, welcome back to the playbook.

Nicole: Hi, good morning.

Jen: Data analytics. You hear that a lot. What are they and how do they impact a not-for-profit organization?

Continue Reading Why Your Not-for-Profit Should Use Data Analytics

Jen: This is The PKF Texas – Entrepreneur’s Playbook®. I’m Jen Lemanski, and I’m back again with Nicole Riley, an Audit Director and one of the faces of the PKF Texas not-for-profit team. Nicole, welcome back to the playbook.

Nicole: Thanks. Thanks for having me.

Jen: There’s different departments in a not-for-profit organization. Two of the main ones are finance and development. Why is it important for those two to be collaborative?

Continue Reading The Importance of Finance and Development Collaboration

According to the Nonprofit Times, only 41% of not-for-profits have whistleblower policies. Perhaps not-for-profit leaders believe their organizations are too small or collegial to worry about illicit activities — let alone people reporting them.

white paper cutouts of heads and one red cutout blowing a whistle; image used for blog post about whistleblower policies for not-for-profits

Or perhaps a whistleblower policy seems like one more thing that requires time and money they don’t have. This is a mistake. Here’s why.

Continue Reading Protect Your Not-for-Profit with Whistleblower Policies

How committed is your not-for-profit organization to benchmarking? Perhaps you think it makes sense in the for-profit sphere, but not as much for charities and other not-for-profits. If so, you’re probably missing out on benefits — including long-term sustainability.

man looking at documents with data and charts; image used for blog post about benchmarking for not-for-profits

Here’s how to overcome reluctance and learn to love benchmarking.

Continue Reading Time to Embrace Benchmarking for Your Not-for-Profit