Nonprofit Issues Newsletter, December 2020
All this took place to fulfill what the Lord had said through the prophet: “The virgin will conceive and give birth to a son, and they will call him Immanuel” (which means “God with us”). – Matthew 1:22-23
While this has been a year unlike any other, full of events and challenges we would not have predicted a year ago, we are filled with joy, awe, and thanksgiving as we celebrate the birth of Jesus — Immanuel, God with us.
As we enter this holy Christmas season, may we all take time to pause and reflect on the indescribable gift of God’s unfailing love and the hope and strength that comes from knowing that God is with us through it all.
We look forward to what God will bring in 2021, and to supporting you and your life-changing work throughout the year.
Merry Christmas from all of us at CapinCrouse!
Honoring Richard Capin, Founder of CapinCrouse
Humble servant. Faithful steward. A man of faith and integrity who was passionate about sharing the Gospel. These are some of the ways those who knew him describe Richard (Dick) F. Capin, founder of CapinCrouse, who passed away on November 25, 2020, after a lifetime of Christian devotion and stewardship.
Here’s a look at Dick Capin’s inspiring life and legacy.
Questions Audit Committees Should Consider in the Current Environment
Audit committees face practical challenges in accounting for, reporting, and disclosing the impacts of COVID-19.
These questions can assist your audit committee in its oversight role and responsibilities to ensure the performance of high-quality audits and transparent and reliable financial reporting.
Analyzing Key Financial Indicators: Cash Flow Ratios
Churches must have sufficient cash balances to run their operations.
Learn how to analyze different cash flow ratios to provide significant insight for your church, get recommended benchmarks, and more in this article.
GLBA: Where We Are Now
Many higher education institutions are still struggling to become fully compliant with the Gramm-Leach-Bliley Act (GLBA).
This article examines why GLBA can be a challenge, looks at what is required for immediate and long-term compliance, and provides resources that can help you get there.
What Is the Private Nonprofit Sector Going to Look Like In the New Post-COVID Environment?
Only one thing about COVID-19 seems certain: uncertainty. Here is an overview of the specific effects the nonprofit sector is experiencing due to COVID-19, and that organizations need to monitor and adapt to.
Free 2020 Nonprofit Tax Year-End Review Webcast on December 17
Join us for one of our most popular webcasts of the year! We’ll discuss areas that are changing and areas that remain unchanged — all with an eye toward what 2021 will bring. Learn more and register.
Minister’s Housing Allowance Reminder
The minister’s housing allowance can provide a substantial benefit for ministers. If your organization plans to provide a minister’s housing allowance for ministers in your organization’s employ in 2021, note that you must designate it by an official action before payment.
An appropriate official action is generally a resolution passed by your organization’s governing board designating the amount of the individual’s compensation that is to be a housing allowance. Please contact us with any questions.
Employee Spotlight: Taborah Miley
Partner Taborah Miley, who leads our Charlotte office, has been with CapinCrouse for over 10 years.
“Whether it’s learning the risk involved with auditing international nonprofits or learning how to be a servant leader, every year has been a different challenge, all while working alongside professionals who have been actively involved in the development of industry-wide financial accounting and auditing standards,” she noted. Learn more about Taborah.
Don’t Miss Our Budgeting E-book
How can you budget effectively when so much is unknown? Download our free e-book for a guide to creating a strategy-driven budget for your ministry during these changing times.
Join Us at Our 2021 Virtual Seminars
We’ll be holding informative virtual seminars this winter and spring. Watch for details:
- 2021 Nonprofit Virtual Seminar – February 10
- 2021 Church Virtual Seminar – late February
- 2021 International Missions Virtual Seminar
- 2021 Higher Education Roundtable
CapinCrouse Team Contributes to 2021 AICPA Audit Risk Alert
As part of our dedication to sharing our knowledge and expertise with the nonprofit industry, CapinCrouse frequently contributes articles to the AICPA’s annual Audit Risk Alert Not-for-Profit Entities Industry Developments publication. The 2021 edition is no exception. Read more.