Nonprofit Blog

The latest finance, accounting, tax, audit and software news uniquely tailored for the nonprofit industry – private schools, foundations, museums, animal/environmental/social welfare, and church or faith-based organizations. Follow for the latest nonprofit trends, rule changes, best practices and free educational offerings.

Thursday, April 5, 2018

Are Your Operating Reserves Enough for Your Next ‘Rainy Day’?

What would happen if a major fundraising event had to be delayed or a couple of long-expected grants fell through? Where would your organization find the dollars to continue operations until you could recover those lost funds? Just like it’s important for individuals and families to set aside “rainy day” funds for unexpected events, it …

Tuesday, February 19, 2013

OMB Proposes Major Changes to Circular A-133

The U.S. Office of Management and Budget (OMB) has issued for comment, proposed guidance on OMB Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations (Circular A-133), which proposes significant revisions to Circular A-133.  Some of the proposed changes include increasing the single audit threshold from $500,000 to $750,000, changes to the major program …

Tuesday, December 14, 2010

The Importance of Maintaining Adequate Operating Reserves

Maintaining adequate operating reserves is important for nonprofit organizations. In recent years, the significance of maintaining operating reserves at levels adequate for achieving financial stability has become an issue of higher priority for nonprofit leaders. The protracted recession has resulted in many organizations experiencing cash flow shortages and unanticipated decreases in operating revenues and/or increases …