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Reilly Nonprofit Advisor

Making sense of FASB’s new accounting standard for nonprofits

Nov 09, 2018

Now is the time for nonprofits to get ready for the new financial reporting standard.

Reilly Nonprofit Advisor

‘Revenue recognition’ for nonprofits: When should you report grant revenues and contribution support

Nov 08, 2018

Applying 'revenue recognition' standard to contributions and grants in the nonprofit world requires careful examination.

Reilly Nonprofit Advisor

Are your procurement procedures up to snuff?

Nov 08, 2018

New federal procurement rules significantly alter the way nonprofits that receive federal funds handle purchasing. You may find it easier to follow the rules on paper than in practice.

Reilly Nonprofit Advisor

Performance measurement: ‘Super metrics’ can prove your nonprofit’s effectiveness

May 12, 2017

Everyone, it might seem, wants to know how effectively your nonprofit is fulfilling its mission and running its operation. Outcome measurement — essentially a way to determine the impact of a program or activity — can provide interested parties with proof that you’re doing your job well. Unlike traditional measurements, such as number of clients served or amount of donations received, these “super metrics” allow an organization to assess whether a program is achieving its intended results.

Reilly Nonprofit Advisor

A donation’s a donation… except when it’s a gift in kind

May 12, 2017

Some supporters give your nonprofit money, others give goods and still others give intangibles, such as use of a facility for a fundraiser. A donation’s a donation, right? Not quite. Under certain circumstances, gifts in kind and donations of services must be recorded and recognized at year end as revenue, expenses or assets. Here’s what you need to do when your nonprofit receives one of these gifts.

Reilly Nonprofit Advisor

New financial reporting standards for nonprofits aimed at greater transparency

Nov 29, 2016

You may have heard that new financial reporting standards are coming down the pike that will affect your nonprofit organization.

Reilly Nonprofit Advisor

What it takes to manage an endowment

Nov 29, 2016

Every nonprofit dreams of receiving a large endowment that will keep it financially worry-free in the future and allow it to fulfill its mission with ease. But in the real world, endowments also carry serious responsibilities.

Reilly Nonprofit Advisor

6 tips for building the board of your dreams

Nov 29, 2016

In response to a recent survey on nonprofit governance, chief executives and board chairs gave their boards of directors an average overall grade of B-. Clearly, nonprofit boards could be doing better.

Reilly Nonprofit Advisor

How to make your special event a financial success

Jul 26, 2016

Many nonprofits depend on the funds raised at an annual gala or other special event to keep their organization in the black. Here are some ideas for maximizing revenues.

Reilly Nonprofit Advisor

Are you ready for the Omni Circular?

Jul 26, 2016

The federal government's "Omni Circular" streamlined requirements from eight existing circulars that applied to federal awards. Its provisions are now affecting most nonprofits that receive federal funds.

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