Nonprofit Blog

Welcome to the Nonprofit Blog hosted by the professionals at Armanino, CPAs & Consultants. This blog is set up to inform nonprofit organizations of trends, rule changes, best practices and free educational offerings that we have built to support nonprofit organizations. Our professionals bring you their insights from an accounting and organization perspective to help nonprofits reach their goals. We support our clients with advice, direction and best practices.

Thursday, February 2, 2012

Creativity in Non-Profit Fund-raising

Posted by Armanino Nonprofit Team

The good news is that there appears to be positive economic signs trickling in suggesting things are getting better. The continued news is there are still difficulties with European economic concerns, an up and down stock market and continued government budget cuts that make it difficult to raise money. There continues to be non-profit contraction in certain sectors significantly affected by the downturn and many NPOs are at a point where they have to determine whether to be acquired by another non-profit or close their doors without additional funding.

Fortunately, there are certain ways to help raise money without asking someone to merely write a check. Life insurance can be a great estate planning tool and can be used as charitable giving. Donors have the ability to make a gift of an existing policy or help the charity purchase a new policy that will provide tax benefits to the donor and can help the donor create a legacy at their favorite non-profit organization. In addition, donors can create charitable remainder unity trusts that establish non-profits as end beneficiaries while still letting their children ‘get a piece of the pie’.

Armanino McKenna is partnering with Heffernan Financial Services on March 1, 2012 to provide a free webinar that discusses the nature and benefits of these various contributions as well as the fair value calculation, recognition and financial reporting requirements.

Please refer to the following link https://www.armaninollp.com/industries/nonprofit/ for a list of all 2012 NPO webinars.

If you have any questions regarding how to value your interest in a charitable remainder trust and/or the revenue recognition and journal entry requirements, please contact me at 925-790-2698.

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