New OMB Rules Allow More Direct Costs
Funding from the federal government can be a significant source of support for nonprofit programs and services. Applying for the money and then handling it once it’s awarded, however, is often a complex proposition. The Office of Budget and Management (OMB) is responsible for grant and contract oversight. The office publishes two publications that provide…
When a Partner Leaves: Issues that Affect Valuation
Business partnerships have been compared to marriages – and never is that more apparent than when they come to an end. Without a solid agreement and valuation plan, the situation can get very messy. Lacking a concrete path forward may eventually involve the courts and years of litigation as a Wisconsin company discovered. In the…
How Do You Report Suspected Tax Fraud?
You suspect that someone is committing tax fraud, but you’re not sure what to do. How do you report it? Should you call the IRS? The Internal Revenue Service has specific procedures in place that involve filing a form to report the type of fraud you believe may be taking place. Print Form 3949-A from…
An Equal Playing Field for Women-Owned Business
Recently, the United States Small Business Administration proposed to amend a regulation that would allow contracting officers the authority to issue Sole Source contracts to Women Owned Small Businesses (WOSB) and Economical Disadvantaged Women Owned Small Businesses (EDWOSB). The proposed rules would simply place the WOSBs on the same playing field as 8(a) certified business…
Nonprofit Budget Planning Tips
A budget may not be exciting to prepare or review, but it is essential for any organization, including a nonprofit. Budgets, particularly over a period of years, can be extremely useful not only to make sure that dollars are available to pay bills as they come due – and that the organization is accountable for…
Five Neglectful Behaviors can Stunt Legal Careers
Most people are looking to get ahead on the job, and attorneys and other legal professionals are no different. But there are certain behaviors that can work to the detriment of those in the legal field and delay or destroy their chances of advancement. Robert Half Legal outlines five particularly neglectful behaviors that can be…
One in Four Parents Don’t Plan to Leave Inheritance
According to a new study, one in four American parents are planning to spend their kids inheritance. They plan to spend all of the money they have saved and let the next generation create its own wealth, the Future of Retirement research studies by HSBC has found. Only 9 percent of American parents are at…
The Affordable Care Act Survey Results
Nearly 17 million more Americans have healthcare coverage as a result of the Affordable Care Act, with more than half of those enrolling through their employer health plans. A newly released study by the nonprofit, nonpartisan RAND Corporation found that, contrary to initial expectations, the largest share of new insureds have enrolled through employer health…
Expected Changes in Not-for-Profit Reporting Requirements
The Financial Accounting Standards Board embarked on a project in November 2011 to review the standards for financial reporting of not-for-profit entities and determine ways to promote best practices for other means of financial communications used by these entities. The Financial Accounting Standards Board (FASB) held multiple educational sessions to discuss current reporting standards and…
Acquisition Strategies
Acquisition can be a major strategy to build company and shareholder value. In fact, according to consulting firm Bain, 90 percent sustained value creators (SVCs) – companies that grow at least 5.5 percent annually while earning cost of capital – use mergers and acquisition as a primary tool to drive increased revenues and stock values. Defining appropriate targets…