Author Archives for Frank Jakosz

Frank Jakosz

About Frank Jakosz

Frank serves as Partner and Quality Assurance Director at CapinCrouse and has more than 50 years of public accounting and nonprofit expertise. He has a deep understanding of nonprofit organizational best practice financial functions and operations, and his expertise includes financial reporting and analysis, investments, internal controls, endowments, and grants management. As the firm’s Quality Assurance Director, Frank provides oversight of all functions of internal quality assurance, including continuing professional education, systems and processes, and monitoring and implementing new technical standards. Frank is a Chartered Global Management Accountant (CGMA) and holds an AICPA Not-for-Profit Certificate.

Challenges in Auditing GIK

December 4, 2018 1:22 pm Published by Leave your thoughts

Assessing an nonprofit’s policies and procedures related to valuing material gift-in-kind (GIK) transactions is an important part of an NFP audit. Because there is no single source of pricing that is appropriate for valuing GIK donations, it falls on the NFP to arrive at an appropriate estimate of fair value. Here are some key considerations.

Gifts-in-Kind: Reporting Contributions of Nonfinancial Assets

October 9, 2018 4:18 pm Published by Leave your thoughts

Since the standards for recognizing contributions at their fair value were issued in 1993, NFPs have been challenged to measure the value of the myriad contributions they receive. This controversial area is once again being addressed by watchdog agencies and state attorneys general and, thus, is one that NFPs should navigate with care.