The CFO'S Perspective

My Journey as an Accidental Entrepreneur

Like a lot of small business owners, I never expected to own a business. I didn’t think that I had an entrepreneurial bone in my body. I had always been a corporate guy. It's not latent in my DNA either. My dad spent his 40+ year career with General Motors. His dad tried his hand at owning and running a commercial painting business, but alas, after years of struggling, it failed.

Topics: CFO Portland Success Story

Does a Not-for-Profit Need a 501(c)(4)?

There are 1.2 million public charities in the United States. Public charities are only one of 29 types of nonprofit organizations recognized by the tax code. Next in popularity to public charities are social welfare organizations (501(c)(4)--at last count, there were over 82,000.

In a world where everything seems to be politicized, it is no surprise that many not-for-profits are entering the political arena more and more. And while 501(c)(3) Public Charities can engage in advocacy efforts in generous ways, some organizations may be frustrated by the allowable activities, prompting them to form a 501(c)(4) – a specific type of not-for-profit organized to promote social welfare.

Topics: Non Profit Organizations Portland

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

Crossing the Finish Line – “Winners” of the World’s Best Mountain Bike Race (A True Story)

After a year of strategizing, planning, training and stress, my wife, Heather and I participated in the one-of-a-kind 7-day BC Bike Race in beautiful British Columbia.

Topics: Success Stories This is Us Personal Development Portland