MLR

Category: Nonprofit

Accounting for Business

Welcome to our Resources section, where you will find articles pertaining to accounting for business, business financial planning, financial advice, and the industries of our clients. This section is a great source of information, but please contact us if you feel you need professional financial advice. Maxwell Locke & Ritter is here to offer trusted guidance.

 

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Simple initiatives can make a big difference in how efficiently a nonprofit operates and delivers its programs and services. This article offers three ideas: 1) Monitor measures that matter; 2) orient your organization toward outcomes; and 3) engage entrepreneurial experts.

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Learning about nonprofit embezzlement cases empowers you to protect your organization from fraud. Visit us today for business accounting advice on embezzlement.

Audits have become more important due to increased public and government scrutiny of not-for-profit organizations, their management and their boards.

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Is your not-for-profit the same organization it was three years ago? Are your stakeholders the same now as then? Is your community and its support of your not-for-profit the same?

Here’s a look at some of the more important elements of the Tax Cuts and Jobs Act that have an impact on tax-exempt organizations. In general, the provisions involved are effective starting in 2018.

Think of your not-for-profit organization and its external auditor as dance partners performing a well-choreographed routine.

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Internal fraud drains more than $3.7 trillion annually from global businesses, according to recent estimates, and not-for-profit organizations are not exempt.

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As your not-for-profit strives to use its resources as effectively as possible, you might at some point consider outsourcing the functions that fall under your accounting and financial umbrella. But wait: You’ll need to weigh the pros and cons before making this important decision.

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Is your organization pursuing planned gifts? It should be. Research suggests that the average planned gift in the United States falls between $35,000 and $70,000 — and the amount may increase with more Baby Boomers moving into retirement.

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It doesn’t happen often, but sometimes not-for-profit organizations merge or are incorporated into one another.