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.
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
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.
With 2021
Delegating ideally gives not-for-profit executives time to focus on mission critical tasks and provides growth opportunities to staffers. However, you need to approach delegation strategically.
This means assigning the right tasks to the right staffers — and following up on assigned work to ensure it’s completed to your standards.
Continue Reading Tips: Delegating as a Not-for-Profit Leader
A warning if your not-for-profit organization is looking for expenses to cut: Don’t skimp on insurance. Should your not-for-profit experience a fire, major theft or other calamity, you’ll be glad you have the coverage. Of course, you may also be required by your state, certain funders, lenders and your own bylaws to carry adequate insurance. Donors certainly expect you to protect their investment in your not-for-profit by managing risk with insurance.
But to ensure you’re not wasting money, consider what you need — and what you might not.
Continue Reading How Insurance Fits into Your NFP’s Risk Management Plan
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.
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 November 2020 Houston Events…
It’s important to schedule internal audits. Fraud doesn’t simply take a vacation during crises, such as the COVID-19 pandemic. If your not-for-profit’s internal controls aren’t effective, crooked individuals can find ways to exploit them and steal from your organization — even if they’re working remotely. Other threats, such as financial shortfalls, might also loom.
Comprehensive independent audits help assure stakeholders that your not-for-profit is ready for anything that might come its way — including opportunities.
Continue Reading How Internal Audits Can Serve as Risk Mitigation
“Accountability” may seem like one of those popular management concepts you know would be nice to implement if your not-for-profit had the time and budget.
But not only is accountability essential to your not-for-profit’s health and efficacy — affecting everything from donations to grants, hiring to volunteering, board fiduciary duty to employee morale — it’s also easy to adopt.
Continue Reading Make Time for Accountability for Your Not-for-Profit
The city of Houston is known for being a giving city, but how has the COVID-19 pandemic affected fundraising for not-for-profit organizations? PKF Texas is a proud sponsor of the Houston Business Journal’s upcoming live philanthropy webinar, and we invite you to join us on Tuesday, October 27, 2020, from 2:00 – 3:00 p.m. for
It would be an understatement to say 2020 has been challenging. Leaders of not-for-profits still standing are justified in having anxiety and worrying about strained budgets and their ability to deliver on their organization’s promises during a pandemic, financial crisis and time of social and political upheaval.
Staffers are likely to be just as concerned about the future of your organization and its constituents. Understandably given the current high unemployment rate, many are also worried about their own job security. Now more than ever, you need to be as open and transparent as possible.
Continue Reading How to Help Ease Your Not-for-Profit’s Staffers’ Anxiety
In this pandemic year, many not-for-profits are scrambling to find new sources of revenue to replace donor contributions and other lost income. If this sounds like your charity, you might want to consider licensing your name and brand to a for-profit business.
Continue Reading A Licensing Arrangement as a New Revenue Source