IRS Form 990 Reporting Issues
In our fourth topic of the six part series, GRF audit partner Jennifer Arminger and tax partner Richard J. Locastro will discuss the most common IRS Form 990 Reporting issues such as the public support test, UBIT, transparency of information, compensation, and more. Understanding and combatting these common issues helps make the Form 990 an…
Allocation of Functional Expenses and Overhead/Indirect Rates
In this second topic of a six part series, GRF audit partners Jennifer Arminger and Robert Albrecht will explore the commonly challenging topic of allocating expenses across various operations, including different methodologies and best practice recommendations. Additionally, we will dive into the topic of overhead allocations and how to accurately track and report overhead to…
Financial Policies and Procedures (Best Practices)
GRF audit partners Jennifer Arminger and Robert Albrecht presented the third topic in a six part series about non-profit industry best practices for financial policies and procedures. The seminar focused on common questions surrounding financial policies and procedures in both federally and non-federally funded organizations. The seminar provided guidance on certain required regulations under the new Uniform Guidance…
Understanding Financial Ratios, Analyzing Unrestricted Net Assets and Setting a Proper Reserve
GRF audit partners Jennifer Arminger and Robert Albrecht presented this opening topic in a six part series, focused on how to properly read financial statements of a non-profit organization including an in-depth look at unrestricted activities and net assets and how to set a proper reserve. Additionally, they took a look at several key financial ratios,…
Uniform Guidance with Procurement & Sub recipient Monitoring
This presentation is from a complimentary webinar on Highlights of Uniform Guidance Subparts A-F With a Deeper Dive Into Procurement and Sub recipient Monitoring. During the webinar, presenters covered the following: Introduction to Uniform Guidance New vs. Old Regulations Subpart A: Acronyms and Definitions Subpart B: General Provisions Subpart C: Pre-Federal Award Requirements Subpart D:…
New Year’s Resolutions for Your Nonprofit Finances
Tax Partner Dick Locastro provides updates, considerations, and the timeline and coordination for preparation of your form 990 once your audit is scheduled. Audit Partner Trevor Williams provides tips on preparation, auditor-auditee relationship, and accountability during your annual audit.
CyberSecurity: Taking a Proactive Approach
Senior Manager and Certified Information Technology Professional Ricardo Trujillo presented best practice tips for how to strengthen cybersecurity and minimize cyber threats. Key topics explored in this presentation include: Framework of cybersecurity objectives Confidentiality Control methods Security architecture How to manage security incidents Adaptations to evolving technologies
Secrets to Finding a Great Auditor
Selecting a potential candidate to conduct your upcoming audit can be a difficult decision due to their close relationship with you and your finances during the audit process. Audit Partner Trevor Williams provides insight into interviews with, and the selection and relationship with your auditor. Key topics include: Requirements of your auditor Where to find…
Maximizing the Audit Experience
Nonprofit organizations that are prepared ahead of time for an audit avoid turning the audit into an arduous process and instead gain insight and tips on how to achieve their financial goals and meet donor expectations. This presentation, designed by Walter Derengowski of Gelman Rosenberg & Freedman and Alan Lesher of The YMCA of Inland…
How to Strengthen Your Nonprofit’s Internal Controls
Governance of internal controls is fundamental to the integrity of an organization’s operations. Audit Partner Trevor Williams discusses management of internal controls for nonprofits. Key topics include: Evaluation of internal controls Responsibilities of the levels of authority Integration and communication of adjustments This presentation also includes nine tips on segregation of duties among the people…