Nonprofit Resources
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.
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.
Renewed Attack on Minister’s Housing Allowance
April 20, 2016 - On April 6, 2016, the Freedom From Religion Foundation renewed its attack on the minister's housing allowance by filing a complaint. This is only the first step in what will probably be a several-year court proceeding.
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.
How to Be a Specialist in Supporting Your Support Team
Without support roles in the church, little or no ministry would take place. Your church should take care not to minimize the importance of these responsibilities. You can help ensure they are given their due by following a few key guidelines.
Nonprofit Issues Newsletter, Spring 2016
Learn how to create and implement an effective ERM strategy, correctly allocate joint costs, benefit from micro-donations, and assess the health of your church. Plus Newsbits on the FASB Not-for-Profit Financial Statements Project, new guidance on lease accounting, a phishing scheme involving W-2s, and more.
Minister’s Housing Allowance and Retirement Plan Contributions
The minister's housing allowance is a unique tax component that can provide substantial benefit to qualifying employees. However, many nonprofits don’t realize that including this nontaxable allowance when calculating retirement plan contributions could have significant consequences. Here's what you need to know.
Is Your Organization Managing Risk – or is Risk Managing You?
All entities make decisions based on risk every day. That means Enterprise Risk Management (ERM) is a process that all higher education institutions, churches, schools, and ministries are already implementing. The question is: Is your organization managing the ERM process – or do you just react to risk after the fact?
Fraud Happened. Now What?
Unfortunately, the church has a long history of fraud as evidenced by biblical accounts, by two thousand years of church history, and by headlines in today’s news. Fraud can occur within any church. This article discusses key steps to take and key questions to ask for an appropriate and proactive response if fraud should ever occur within your church.