Nonprofit Resources
Four Expense Ratios and Measurements Your Church Should Monitor
Does your church track its expense ratios? This can help you identify key trends in the outflow of resources between years. It also provides the opportunity to compare with other churches and check the reasonableness of your expenses.
How to Be a Specialist in Supporting Your Support Team
Without support roles in the church, little or no ministry would take place. Your church should take care not to minimize the importance of these responsibilities. You can help ensure they are given their due by following a few key guidelines.
Nonprofit Issues Newsletter, Spring 2016
Learn how to create and implement an effective ERM strategy, correctly allocate joint costs, benefit from micro-donations, and assess the health of your church. Plus Newsbits on the FASB Not-for-Profit Financial Statements Project, new guidance on lease accounting, a phishing scheme involving W-2s, and more.
The OMB Rule on Indirect Costs: What You Need to Know
The Office of Management and Budget’s Uniform Guidance (the Omni Circular) has brought sweeping changes for nonprofits that receive federal funding. Nonprofits need to get up to speed on their rights and responsibilities under the rule — to avoid forfeiting reimbursement dollars.
Minister’s Housing Allowance and Retirement Plan Contributions
The minister's housing allowance is a unique tax component that can provide substantial benefit to qualifying employees. However, many nonprofits don’t realize that including this nontaxable allowance when calculating retirement plan contributions could have significant consequences. Here's what you need to know.
FASB Issues New Guidance on Lease Accounting
On February 25, 2016, the FASB issued an Accounting Standards Update (ASU) on financial reporting for leasing transactions. Here are some helpful resources.
FASB Not-For-Profit Financial Statements Project Update
The Financial Accounting Standards Board (FASB) Exposure Draft issued in 2015 will be addressed by the Board in two phases. The following identifies the components of tentative board decisions to date.
Is Your Organization Managing Risk – or is Risk Managing You?
All entities make decisions based on risk every day. That means Enterprise Risk Management (ERM) is a process that all higher education institutions, churches, schools, and ministries are already implementing. The question is: Is your organization managing the ERM process – or do you just react to risk after the fact?
Fraud Happened. Now What?
Unfortunately, the church has a long history of fraud as evidenced by biblical accounts, by two thousand years of church history, and by headlines in today’s news. Fraud can occur within any church. This article discusses key steps to take and key questions to ask for an appropriate and proactive response if fraud should ever occur within your church.
Two-Year Extension of the Federal Perkins Loan Program
February 22, 2016 - The Federal Perkins Loan Program Act of 2015 (the Extension Act) has extended the Perkins Loan Program through September 30, 2017. The Extension Act also prohibits any further extensions.