Finance and Operations
An annual audit is an examination of an organization’s financial systems and transactions at the end of a year by an independent, certified, professional auditor. The audit assesses whether or not financial statements have been prepared in conformity with Generally Accepted Accounting Principles (GAAP) or Other Comprehensive Basis of Accounting commonly referred to as OCBOA. […]
Board members are responsible for understanding the financial condition of their organization in order to fulfill their fiduciary obligations. The IRS Life Cycle states that “Directors are stewards of a charity’s financial and other resources. The IRS encourages the board … to ensure … funds are appropriately accounted for by regularly receiving and reviewing up-to-date […]
The 2018 Salary and Benefits Survey: A Study on Compensation and Benefits in Maryland’s Nonprofits, is now available exclusively to Maryland Nonprofits members! To access the report, login to the Member Portal and search for “2018 Salary and Benefits Survey” in the top search bar. The report provides a glimpse at the current employee […]
Nonprofit organizations should adopt policies, approved by the board of directors that provide clear guidance on a range of legal, financial, human resources and other areas. The Standards for Excellence® Educational Resource Packets provide a thorough set of instructions and sample policies for the attached list of policies and procedures, including: Conflict of Interest Policy […]
Guest blog by Associate Member, Karen Cheeks, Founder, Cheeks Communications, LLC What does your organization do? You may be thinking that this is a trick question, but it’s not. How you respond when asked that question is key in your ability to raise funding, attract employees, and grow your audience. If you are having problems in […]
Guest Blog by Ronnie Kurlander, Senior IT Advisor, Hartman Executive Advisors Nonprofit organizations are particularly vulnerable to breaches, mainly due to inconsistent security policies and the large amounts of sensitive data they collect and use in their daily operations. Often considered “soft targets,” cybercriminals increasingly go after nonprofits and other small businesses, which makes the situation […]
