ASU 958, also known as Accounting Standards Update 958, is an accounting standard used in the financial reporting practices of non-profits. It is designed to bring transparency, comparability, and accountability to nonprofit financial statements. Albeit an excellent tool for the purpose of building strong financial infrastructure for non-profits, many nonprofits are not fully aware of […]

Photo by Carlos Muza on Unsplash Nonprofit organizations, also known as not-for-profit organizations, are entities that aim to provide a service or benefit to society without seeking to make a profit. They operate in various sectors, including health, education, arts, and culture. However, like any other business, nonprofits need to manage their finances efficiently to […]

The best way to reduce the effect of lost talent and underdeveloped employees is to take the time to develop a leadership-based succession plan that focuses on developing and mentoring the next generation. Jim Bitterle, EDSI Managing Partner and Succession Planning Expert Do you have the next generation of employees ready to step into the […]

Succession Planning according to Susan M. Heathfield is the process whereby an organization ensures that employees are recruited and developed to fill each key role within the company. In this process, you ensure that you will never have a key role open for which another employee is not prepared. It sounds like an awesome solution yet […]

At a meta level, managementÔÇöin the nonprofit sector or otherwise ÔÇöis about creating and maintaining an environment in which limited resources are deployed to create as much value as possible.

The ÔÇ£Parking TaxÔÇØ imposed under I.R.C. Section 512(a)(7) upon enactment of the 2017 Tax Cuts and Jobs Act has now been retroactively repealed under the Taxpayer Certainty and Disaster Tax Relief Act signed into law on December 20, 2019.

At a meta level, managementÔÇöin the nonprofit sector or otherwise ÔÇöis about creating and maintaining an environment in which limited resources are deployed to create as much value as possible.

Wishing you a magical and blissful holiday! Have a Merry Christmas and a prosperous New Year!

A board of directors is a group of people who jointly supervise the activities of an organization, which can be either a for-profit business, nonprofit organization, or a government agency.

Nonprofit Organization. In the United States, there are over 1.6 million nonprofit organizations. Social Advocacy Groups. 501(c)(1) 501(c)(2) 501(c)(3) – Charitable Organizations. Foundations. 501(c)(4) – Civic League, Social Welfare Organization.