Articles by

Olsen Thielen

Conflict-of-Interest Checklist for Nonprofits

January 22, 2018

Not-for-profit board officers, directors, trustees and key employees must avoid conflicts of interest because it’s their duty to do so. Any direct or indirect financial interest in a transaction or arrangement that might benefit one of these individuals personally could result in the loss of your organization’s tax-exempt status —

Preparing for a NonProfit Audit

January 10, 2018

An important part of the planning process for a financial statement audit is having quality discussions with clients regarding how their year went. However, this is just one part of the puzzle when it comes to planning for an audit.

Don’t Let Donor Fatigue Erode Support for Your Nonprofit

January 5, 2018

After a flurry of year-end fundraising, you and your not-for-profit’s staff are probably ready for a little break. Your supporters may be tired, too. At some point, even the most philanthropic individuals experience donor fatigue and start saying “no” — even to their favorite charities.

Member Retention Tips for Nonprofits

December 21, 2017

For-profit businesses understand that it takes a lot more time and money to attract new customers than it does to keep current customers happy. The same can be said for your not-for-profit’s members. But there’s more to retention than cost savings. Long-time supporters help attract new members and are ideal

Tips for a Successful Audit

December 20, 2017

The end of the year is fast approaching and not only does that mean we are in the holiday season but, for many companies that means it’s time to start preparing for the annual audit.

Tools for Uncovering Financial Statement Fraud

December 19, 2017

Financial statement fraud is committed by intentionally misrepresenting an organization’s financial condition. A perpetrator might do this by omitting or misstating amounts or information to deceive auditors, shareholders and the public. However this fraud is committed, it tends to be one of the most costly schemes for the victimized companies.

How Nonprofits Can Successfully Execute a Capital Campaign

December 19, 2017

When your not-for-profit desperately needs a new facility, costly equipment or an endowment, a capital campaign can be the best way to raise funds. But to be successful, a campaign requires strong leadership, extensive planning and dedicated participants.

How Proactive Fraud Detection Stops Thieves in their Tracks

December 19, 2017

When employees commit fraud, it can take months, even years, for their employers to discover the theft. But proactive fraud detection makes it possible for businesses to detect fraud schemes earlier - long before they generate significant losses.

Technology’s Dark Side: How to Prevent ACH Fraud

December 12, 2017

The convenience of instantaneous information can blind us to technology’s drawbacks, including cyber attacks and data breaches. But there’s another, lesser-known technology-enabled crime to watch for — Automated Clearing House (ACH) fraud.

3 Good Reasons to Conduct Background Checks When Hiring

December 11, 2017

Many employers use background checks as a regular part of their hiring processes. If yours is a smaller organization, you may understandably feel pressured to hire good candidates quickly. After all, you don’t have the hiring resources of a larger organization and might really need the help. But, in today’s

5 Strategies for Struggling Nonprofits

December 11, 2017

If your not-for-profit is struggling financially, you’ve probably already taken steps to cut costs, such as wage freezes and layoffs. But to keep your organization afloat, you may need to come up with more creative ways to generate operating cash flow.

Why You Need a CPA on Your Fraud Litigation Team

December 6, 2017

Even an extensive fraud prevention program can’t guarantee your company will escape fraud-related legal action. If you decide to initiate a civil suit or press criminal charges against an employee involved in fraud, you’ll need every resource at your disposal. One of the most critical is the expertise of a

Nonprofits: Get Usable Results When Surveying Constituents

December 5, 2017

To make sound decisions, your not-for-profit’s leadership should periodically survey donors and other constituents. But how do you design a survey to ensure a high response rate and constructive feedback?

Nonprofits: Stop Being Such an Easy Fraud Target

December 4, 2017

Because their cultures are oriented toward helping others, nonprofits often find it impossible to imagine that anyone working for them would steal. As a result, too many charities neglect to put proper internal controls in place and, if they’re defrauded, refuse to seek prosecution of the perpetrator.

How Nonprofits Can Maximize Donors’ Generosity Around the Holidays

December 4, 2017

People are naturally inclined to make charitable gifts around the holidays. With the end of the year fast approaching, your not-for-profit should prepare now to take advantage of donors’ generosity. The holiday season is an opportune time to raise funds for your nonprofit. All you have to do is ask