- September 8, 2017
Investment fraud, such as Ponzi schemes, can cause significant financial losses for not-for-profits. But the harm it can cause an organization’s reputation with donors and the public may be even worse.
Olsen Thielen Advisor Blog
- September 7, 2017
Fraud that makes the headlines are typically disbursement schemes, meaning that they are frauds that occurred from the disbursement of cash, such as embezzlement and purchasing frauds. While these are very significant and should be considered by every type of organization by addressing internal controls surrounding cash disbursements, associations may
- September 7, 2017
If your sales team is willing to say whatever it takes to land a sale, it could hurt your company’s good name. So don’t overlook sales when building an ethical business culture.
- September 7, 2017
Annual financial statements that have been audited by a professional auditor can help assure funders and lenders that your not-for-profit is financially sound. Audited results demonstrate professionalism and provide assurance that your results are free from errors and fraud.
- August 29, 2017
Your first action when you uncover fraudulent activity should be to take proactive steps to preserve evidence. Otherwise, you might inadvertently destroy or discard critical data. And without evidence, fraud can’t be fully traced and perpetrators can’t be prosecuted and punished.
- August 29, 2017
Many employers labor along with little to no idea what their employees are really thinking or feeling about a variety of critical employment issues.
Selecting a new chief executive or other senior staffer is one of the most important decisions your not-for-profit board is likely to face. Even if there’s no immediate hiring need, it’s smart to prepare for the process. That way, you’ll be ready to execute an efficient executive search when the
- August 14, 2017
Your not-for-profit has probably spent a lot of time and effort attracting board members who have the knowledge, enthusiasm and commitment to make a difference to your organization. Unfortunately, what begins as a good relationship can sour over time, and you may find yourself in the tough position of having
- August 7, 2017
If your business is a limited liability company (LLC) or a limited liability partnership (LLP), you know that these structures offer liability protection and flexibility as well as tax advantages.
For accounting purposes, the simplest relationship between nonprofits may be a collaborative arrangement. These are typically contractual agreements in which two or more organizations are active participants in a joint operating activity — for example, a hospital that’s jointly operated by two nonprofit health care organizations.
- July 31, 2017
With an employee stock ownership plan (ESOP), employee participants take part ownership of the business through a retirement savings arrangement.
- July 25, 2017
Did you know that auditors don’t just audit financial statements? In fact, there are a variety of levels of financial statement services provided, including compilations, reviews, and of course, audits.
- July 25, 2017
Any Organization that invests assets should have a well-written investment policy statement (IPS). An IPS is a document that outlines overall strategy for investing, your short and long-term goals, and the process by which investment decisions are made.
- July 24, 2017
You’ve probably heard it before: People don’t give to causes — they give to those asking on behalf of a cause. That’s why a personal appeal continues to be such a powerful not-for-profit fundraising tool. In fact, requests from friends or family members typically drive most charitable donations. By appealing
Interest in not-for-profits’ governance practices from lawmakers, watchdog groups and the general public has been growing in recent years. If your board hasn’t reviewed its roles and responsibilities recently, now is a good time.