Nonprofit

The Equifax Data Breach – What to Do

On September 7, 2017, Equifax, one of the three main credit reporting agencies, announced a massive data security breach that exposed vital personal identification data— including names, addresses, birthdates, and Social Security numbers on as many as 143 million consumers, roughly 55% of Americans age 18 and older. This data breach was especially egregious because…

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Introducing BDO’s First Nonprofit Benchmarking Survey

There are over 1.5 million tax‑exempt organizations currently operating in the United States, each with a unique mission and focus. Given the diversity in the industry, nonprofit leaders consistently face a challenging question – “How does my organization compare?” To help nonprofits assess their key metrics, The BDO Institute for Nonprofit ExcellenceSM developed Nonprofit Standards,…

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The Future of Philanthropy is Bright as Millennials Mature

Many organizations operate under the presumption that millennials are not as charitably committed compared to older generations. New research findings are challenging this misconception. Results from a recent study commissioned by Dunham+Company and conducted by Campbell Rinker found that millennials are increasing their donations and charitable commitments as they mature. In this article, we will…

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Assessing Near-Term Nonprofit Challenges

Friends and colleagues, I am writing this on the train ride home from Washington D.C., where Kyle, Lovepreet and I attended the annual AICPA Not-for-Profit Conference.  The three-day getaway gives us a chance to step back and reflect on the changes that our firm and clients need to know about, and better yet, to convene…

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Measuring Fundraising Effectiveness

While fundraising is a major activity for all nonprofits, it is especially vital for small organizations that rely on it as a major source of revenue. In today’s competitive landscape, possessing strong fundraising skills is vital to an organization’s success. While nonprofits have many things in common, a defined mission, an effective team, procedural integrity,…

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Nonprofits Should Focus On Building Volunteerism As U.S. Volunteer Rates Continue To Decline

Each year the Corporation for National and Community Service (CNCS) teams up with the National Conference on Citizenship to conduct a Current Population Survey (CPS) that collects information on the frequency of volunteering and the characteristics of volunteers in the United States. Recent survey data confirms that the volunteer rate continues to decline among American…

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Donor Advised Funds: Efficient and Effective Planned Charitable Giving

We have just completed the year-end rush of charitable giving and a barrage of requests from multiple organizations. How can we make this process more strategic and tax efficient? One option is a donor advised fund (DAF). A DAF offers an easy way for a donor to make significant charitable gifts over a long period…

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Fighting Fraud in the School Yard

In the last decade, there were numerous reports of fraudulent acts committed by school officials, many resulting in criminal indictments and jail sentences for the perpetrators, as well as significant monetary costs and adverse publicity for the victimized school districts.  More recent media headlines identifying fraud in schools again remind us that investigative audits are…

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Tax Implications on Foreign Investments

Happy New Year clients and friends! February is a month during which many organizations take a hard look at their investment portfolios’ prior calendar-year performance. While the markets certainly ended strong in 2016, due, in part, to anticipated changes from the new administration, certain sectors and investment products were lacking. We talked to Mercadien Asset…

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Digesh Patel’s Article Featured on Cover of NJAC Newsletter

Are You Complying with the New Procurement Standards Under Uniform Guidance? For all state, local and nonprofit entities that receive federal awards, whether direct or pass through, Uniform Guidance took effect with fiscal years that began after December 26, 2014. Procurement standards is one of the many areas that management and staff at all state,…

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