FIT! TIPS February 12, 2018

Collections—are you being lapped? Joan M. Renner, CPA, CGMA, Director 501(c)(fit!) Fraud prevention tips often focus on how to control outgoing payments.  But why would anyone take the risk of creating fraudulent disbursements if he or she could just lift some incoming money before anyone else know it was there?  That’s what happened in South [...]

FIT! TIPS January 29, 2018

A Nonprofit Tale—how to write a better ending Joan M. Renner, CPA, CGMA, Director 501(c)(fit!) Once there was a little nonprofit.  Its founding Board was super engaged and passionate.  The Executive Director worked hard to do more with less, squeezing every dollar to put the most toward the mission.  Everyone shared the same style.  They [...]

FIT! TIPS January 22, 2018

New GAAP Disclosures—your liquidity up close and personal Joan M. Renner, CPA, CGMA, Director 501(c)(fit!) Have you seen that TV commercial where the friendly neighbor delivers a home baked pie to the new family on the block, just to get a peek inside the front door?  Inquiring minds want to know.  You may be feeling [...]

FIT! TIPS January 16, 2018

Practical Fraud Prevention--plugging the leaks Joan M. Renner, CPA, CGMA, Director 501(c)(fit!) My mom makes sure to turn out every light before leaving her apartment.  I’ve seen her do it every time.  She doesn’t even pay for electricity, it’s just the right thing to do.  How far are you willing to go to safeguard resources?  [...]

FIT! TIPS January 8, 2018

Measuring impact—focusing resources Joan M. Renner, CPA, CGMA, Director 501(c)(fit!) Last week we discussed how the new tax law will affect your donors. Although donors who itemize can still deduct their contributions to your organization, fewer taxpayers will itemize.  Many will take the standard deduction no matter what they give to charity.  As we begin [...]

FIT! TIPS January 2, 2018

New Year--New Tax Law—how will it affect your donors? Joan M. Renner, CPA, CGMA, Director 501(c)(fit!) This time of year, we say goodbye to the old and look toward the new.  We each look for opportunities to renew, whether it’s our health, fitness or work-life balance.  At your nonprofit, you may also be thinking of [...]

FIT! TIPS December 21, 2017

Peace, Love, Joy Joan M. Renner, CPA, CGMA, Director 501(c)(fit!) “Since you get more joy out of giving joy to others, you should put a good deal of thought into the happiness that you are able to give.”—Eleanor Roosevelt “We make a living by what we get, but we make a life by what we [...]

FIT! TIPS December 18, 2017

coming to terms with your Board Joan M. Renner, CPA, CGMA, Director 501(c)(fit!) Do your Board members have term limits?  This came up at last month’s 501(c)(fit!) financial leadership training seminar, and our participants compared notes.  Many participants did have term limits for their Board.  Some did not. A recent survey of more than 1700 [...]

FIT! TIPS December 11, 2017

Welcome a Board Joan M. Renner, CPA, CGMA, Director 501(c)(fit!) Do you provide a Board Orientation?  This came up at last month’s 501(c)(fit!) financial leadership training seminar, and our participants compared notes.  Many participants did hold a Board Orientation and they shared the topics they cover, such as the history of the organization, the duties [...]

FIT! TIPS December 4, 2017

Focus on your wish list Joan M. Renner, CPA, CGMA, Director 501(c)(fit!) This time of year, most of us are checking some kind of list.  If you’re like me, it’s your to-do list.  For many, it’s your shopping list.  But don’t forget the most important list for your organization—your wish list.  After all, someone just [...]