The CFO'S Perspective

Beyond GAAP – Financial Reporting for Nonprofits

GAAP compliance in financial statements is an essential underpinning for nonprofits and for-profit businesses alike. It is essential to be in GAAP compliance for audits, funding applications, etc. However, the standard GAAP financial statements may not be enough to ensure your statements will match your cash position at the end of the month. Additional perspectives are required to quickly assess the organization’s financial performance.

Topics: Non Profit Organizations Financial Reports gaap

Understanding New Revenue Recognition Guidelines for Nonprofits

For many nonprofit organizations, revenue recognition is one of the most challenging accounting issues they encounter.  The guidelines governing the recognition and classification of revenue are now, however, undergoing significant change.

Topics: Accounting Non Profit Organizations Financial Reports Audit

Accounting and Reporting for Stock Gift Donations to Nonprofits

Last week I shared an overview about recording non-cash gifts and the opportunity for a nonprofit organization to accurately present the types and value of contributions it receives to support its mission. 

Today we review a related topic: Stock gift donations.

The easiest type of donations for nonprofits to accept are unrestricted cash donations. While everyone loves cash, what if you could supercharge your organization’s growth by accepting other types of non-cash gifts—like stocks?

Topics: Accounting Non Profit Organizations Philanthropy Portland

In-Kind Donations Accounting and Reporting for Nonprofits

Most non-profit organizations rely on gifts from other businesses and the public at large to achieve their goals. These come in the form of both tangible property and personal services (collectively nonfinancial gifts), which are referred to as in-kind contributions. 

Recording these non-cash gifts allows a nonprofit organization to accurately present the types and value of contributions it receives to support its mission. Even though in-kind gifts are a major source of support for many nonprofits, recording and reporting them properly can present some unique challenges.

Topics: Accounting Non Profit Organizations Philanthropy Portland

WSJ Story: Positive Trends for Charitable Contributions & Demand for CFOs

Recently a WSJ story shows the trend of more finance directors moving from corporate America to nonprofits. Such a story can be both an inspiration and risky to those using it as a reference. Today we want to highlight the trend, the reasons, the challenges, and why we also celebrate.

Topics: Non Profit Organizations Trends CFO Responsibilities