Nonprofit Resources
Internal Control Weaknesses: “I Know Someone Who…”
Many ministries have questions about internal controls and how to effectively address or prevent vulnerabilities. This article looks at some of the specific internal control weaknesses that can exist in a church and why they are a concern.
New IT Security Threat Targeting Finance Departments On the Rise
A hacked email account. A perpetrator posing as a senior leader and requesting a fraudulent funds transfer. This may sound like a movie plot, but it is a reality we see playing out more and more. Learn more about this type of IT security breach and four recommendations for preventing it.
Overview of the FASB Accounting Standards Update on Leases
What you need to know about the FASB Accounting Standards Update (ASU) on financial reporting for leasing transactions, plus action items for consideration.
Public Confidence in Nonprofits Varies
Statistics to consider when you complete your next Form 990 or draft your next annual report, along with information on how CapinCrouse can help.
The IRS Takes These Board Financial Responsibilities Seriously – Do You?
If you serve on the board of an organization, you’ve probably heard the term “fiduciary responsibility” and know that it applies to your role as a board member. Yet you may not be aware of exactly what that involves for board members of not-for-profit organizations.
Common Church Finance Department Mistakes and How to Remedy Them
A look at some of the common mistakes made in church finance departments and how these mistakes can be remedied.
Foreign Operations Reporting
The IRS has an extensive reporting structure for foreign activities by U.S. individuals and corporations. Nonprofit corporations, religious workers, and churches are not exempt.
Foreign Account Reporting Requirements (FBAR)
Although foreign bank account reporting (FBAR) reporting was legally required as far back as 1970, few Americans knew about it or took it seriously. This has changed in the last few years because of the Treasury Department’s aggressive search for violators and the draconian penalties that apply.
The Top 10 Year-End Fiscal Tasks
Performing these simple steps throughout the year will result in your year-end financial close being similar to any other month-end, rather than a stressful and time-consuming event.
Four Expense Ratios and Measurements Your Church Should Monitor
Does your church track its expense ratios? This can help you identify key trends in the outflow of resources between years. It also provides the opportunity to compare with other churches and check the reasonableness of your expenses.