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Winter 2022
Not-for-Profit Organizations and Accounting For In-Kind Donations
Donors give in various ways, and they all can be very helpful to your organization. As a not-for-profit, in-kind donations can be just as valuable and appreciated as monetary donations. But, how do you account for an in-kind donation, and what are the accounting regulations you need to know? In this article, I will review the new accounting standards for in-kind donations and how they will impact your reporting requirements.

A Financial Dashboard Can Take Your Nonprofit Where It Wants To Go
Does your board have a quick and easy way to assess your nonprofit’s financial performance? It does if it has a dashboard with carefully chosen and current key performance indicators (KPIs). However, to facilitate focused discussions and timely decisions, you’ll need to choose the right KPIs. This article will review certain KPIs that are popular among a variety of nonprofits and how to determine which may be right for your organization.

The Fair Labor Standards Act Asks Your Nonprofit to Accurately Classify Staffers
If you haven’t reviewed your staffers’ work status (employee or independent contractor) since the start of the pandemic, now may be a good time. Many organizations have experienced staff turnover and are relying more on temporary workers. Although the Fair Labor Standards Act (FLSA) doesn’t define “independent contractor,” the U.S. Supreme Court and the U.S. Department of Labor have identified various factors. In this article, we will review these factors for determining staffer classification, as well as the potential consequences if an organization doesn’t properly determine worker status. 

How Your Nonprofit Can Break Bad Budget Habits
If your nonprofit’s budget process is on autopilot, you might want to pause and think about changing things up this year, particularly if you’ve experienced shortfalls or found your budget to be less resilient than is ideal. This brief article provides suggestions on how to rethink budgeting for your organization. 

Register for our 2023 Virtual Nonprofit
Conference on January 11, 2023!

Join us for our 2023 Virtual Nonprofit Conference. This conference is designed to provide valuable insight on the financial and operational issues facing the nonprofit industry and to help you become more effective in managing your organization or serving on a board.

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About Dannible & McKee, LLP

Dannible & McKee, LLP has been providing audit, tax and strategic advisory services to clients nationwide since 1978. The hallmark of our firm is our technical expertise, depth of experience and approach to delivering quality service to our clients. Our firm helps a wide range of nonprofit organizations operate more efficiently and effectively, and we are well-versed in the unique accounting principles and board governance issues that apply to nonprofits. We also offer a full-service accounting services department that provides nonprofit organizations with services such as payroll tax reporting, bank reconciliations, general ledger maintenance and preparation of monthly, quarterly and annual financial statements. 

To learn more about Dannible & McKee, visit us at: www.dmcpas.com