If the events of 2020 have taught not-for-profits anything, it’s that financial reserves are essential to long-term survival. An endowment is different from operating reserves and generally is designed to provide steady income to a not-for-profit while its core investments grow untouched. But that steady income can be a financial safeguard in times of crisis.

a green plant growing from a pile of coins; image used for blog post about not-for-profit endowment

So if your organization doesn’t have an endowment, or if you’ve neglected to build on an existing one, you might want to focus on it as soon as your not-for-profit is back in fighting shape. Just make sure you understand the regulations governing spending and have the resources to manage investments.


Continue Reading What to Know About a Not-for-Profit Endowment

Deemed as a riveting presentation from a CFO and SEC registrant attendee, PKF Texas hosted its last Zoom webinar of the year with the SEC niche team, “What’s Next for 2021: Accounting and SEC Reporting Updates,” on December 3, 2020. Audit Director, Chip Schweiger, CPA, CGMA, moderated a panel consisting of speakers:

  • Valerie Frey, CPA,

There has been a trend of increased litigation over the reasonableness of retirement plan fees, which is impacted by a lack of fiduciary responsibility. PKF Texas Audit Senior Manager, Kristin Ryan, CPA, recently published an article on the Houston Business Journal website discussing important considerations plan sponsors should be thinking about.

open notebook with "notes" written at the top and a pen lying on the page; image used for blog post about Kristin Ryan Houston Business Journal article about retirement plan checks

In her article, Kristin

Does anyone actually read footnotes? If they’re financial statement footnotes, the answer is usually “yes.” Footnotes can provide donors, governmental supporters and other stakeholders with critical information about your not-for-profit.

two businessmen writing on a document together; image used for blog post about using footnotes in a not-for-profit's financials

So it’s important to work with your CPA to make sure your footnotes are accurate and thorough.


Continue Reading How to Disclose NFP Financial Information with Footnotes

Byron: Welcome to The PKF Texas Entrepreneur’s Playbook. My name is Byron Hebert. I’m the Chief Growth Officer here at PKF Texas, and today I want to introduce you to two of the faces of PKF Texas, Matt Goldston and Sam Razmandi.

We’re going to talk to you today about one of the services PKF offers: our Outsourced Controller and CFO Program in the Entrepreneurial Advisory Service Department. Both these guys are experts in this area, and so I’m really excited to introduce them to you. Let’s start with Matt.

Matt, why would a company outsource their controller or CFO function?


Continue Reading What are Outsourced Controller and CFO Services?

The PKF Texas not-for-profit team hosted its next Zoom webinar, “Forging Ahead: Planning Your Fundraising and Investment for 2021.” Once again, PKF Texas Audit Senior Manager, Nicole Riley, CPA, CFE, moderated a panel, which included Ryan McCauley, Regional Director of Foundation & Institutional Advisory, Northern Trust; and Sara Wise, Senior Consultant, Mission Advancement.

Thumbnail image spotlighting Nicole Riley, Ryan McCauley and Sara Wise for PKF Texas' Zoom webinar “Forging Ahead: Planning Your Fundraising and Investment for 2021"

With 2021

2020 Best Accounting Firms to Work ForPKF Texas has been named as one of the 2020 Best Accounting Firms to Work For by Accounting Today and Best Companies Group, ranking at #24 of mid-sized firms. The annual survey and awards program are designed to identify, recognize and honor the best employers in the accounting profession, and almost 250 firms across the

Jen: This is the PKF Texas Entrepreneur’s Playbook. I’m Jen Lemanski, and I’m back once again with Carlos Gomez, an Audit Manager and one of the faces of the PKF Texas Contract Compliance Services team. Carlos, welcome back to the playbook.

Carlos: Hey, Jen.

Jen: We’ve talked about a whole bunch of different agreements with Contract Compliance Services, and I know you’ve mentioned management operation agreements. Are those kind of the whole agreement over everything?

Carlos: It has to do a lot with real estate or energy production. There’ll be cases where you may own some land or a building and someone’s actually doing the renting out of it on your behalf. Whether it be commercial, residential or you have the rights to a well, and someone’s doing the production of the oil from there.

Jen: So, what would trigger a company to say, “Yes, I need a management or an operation agreement?”


Continue Reading Management Operation Agreements – Locally and Globally