Category: "Compliance"

Outputs vs. Outcomes: What’s the Difference and Why Does It Matter?
February 6, 2018
Outputs vs. Outcomes: What’s the Difference and Why Does It Matter?

Donors want to know if their donations are impacting the work of your nonprofit through its mission. Increasingly, this means telling your story through numbers—something that nonprofits don’t always do well. Marc J. Epstein, co-author of the book, Measuring and Improving Social Impacts: A Guide for Nonprofits, Companies, and Impact Investors, says that “The need…

Nonprofits in the Cloud: It’s More than Cost Savings
January 5, 2018
Nonprofits in the Cloud: It’s More than Cost Savings

Moving your nonprofit financials to the cloud from an on-premises solution can significantly reduce your costs. There are other benefits you may not have considered, though—pluses that are just as beneficial as bottom-line savings. Your fund accounting becomes more efficient, compliance is easier, and you have a better view of your organization’s performance. A closer…

A Practical Guide to the FASB ASU 2016-14 for Nonprofits
February 23, 2017
A Practical Guide to the FASB ASU 2016-14 for Nonprofits

Last August, the Financial Accounting Standards Board (FASB) announced some major changes to accounting rules titled, “Presentation of Financial Statements of Not-for-Profit Entities.” By implementing these changes, the FASB hopes to bring increased visibility into nonprofit financial statements, what goes into the statements, and how the statements are presented. While this shouldn’t be a surprise…

Key Fund Accounting Questions Your Board Should Be Asking
January 4, 2017
Key Fund Accounting Questions Your Board Should Be Asking

All nonprofit board members have a fiduciary responsibility to diligently oversee the fund accounting and financial operations of the nonprofits they govern. Failure to receive timely, accurate information from the organization’s finance team can prevent the board and the finance committee from successfully executing on their responsibility. This can create disastrous consequences for the board…

A Cloud Solution Should Provide More Value, Not Create More Work
September 21, 2016
A Cloud Solution Should Provide More Value, Not Create More Work

Nonprofit organizations need to remain focused on the mission, not distracted by software systems. Whether you have a strong IT team or not, a cloud-based financial management solution may provide more value and versatility than you may think. Here are three benefits for replacing inefficient software with a cloud-based solution. The technology available to nonprofit…

Management Reporting vs Compliance Reporting
August 8, 2016
Management Reporting vs Compliance Reporting

Nonprofit organizations are well-versed in the reporting process. Showing transparency and sharing information with the board of directors, the membership, funders and granting agencies requires a lot of communication and detailed reports. There is a difference between preparing management reports and compliance reports and it starts with presentation.   Reliable data and detailed reports are…

Charitable Solicitation Compliance
June 27, 2016
Charitable Solicitation Compliance

By James Gilmer, with  Harbor Compliance   As more nonprofits move toward faster, more comprehensive donor management and fundraising technology solutions, connecting with prospective and recurring donors is easier than ever. In the rush of expanding your mission and base of support, it’s easy to leave charitable solicitation compliance behind. Properly maintaining your nonprofit’s registration with…

How JMT Helps Nonprofits
February 1, 2016
How JMT Helps Nonprofits

At a recent conference, JMT’s own Andy Harleman was interviewed on a variety of topics including how JMT helps nonprofit organizations with fund accounting software for the finance department, donor management and fundraising solutions for the development team as well as a variety of other tools and services designed to help organizations manage and maximize…

Board Fiduciary Responsibility
January 22, 2016
Board Fiduciary Responsibility

All nonprofit board members have a fiduciary responsibility to diligently oversee the financial operations of the nonprofits they govern.  Failure to receive timely, accurate information from the organization’s finance team can prevent the board and the finance committee from successfully executing on this responsibility, possibly creating disastrous consequences for the board when there is financial…

Are Your Systems & Processes Optimized for Grant Compliance Reporting?
January 21, 2015
Are Your Systems & Processes Optimized for Grant Compliance Reporting?

In the absence of the right tools and processes, gathering, organizing, validating and presenting the information becomes a labor-intensive, manual exercise that must be repeated at each reporting interval.  Multiply this by the number of funding sources requiring reporting and it can overcome an organization’s finance team. When this goes wrong, there is not only…

Why Doesn’t Anyone Read These Reports?
January 16, 2015
Why Doesn’t Anyone Read These Reports?

Sometimes working in nonprofit finance can be frustrating.  A tremendous effort goes into carefully planning, recording and reporting financial information to meet regulatory and funder reporting requirements and provide actionable decision support information to the organization’s management team.  What we hear very frequently is that managers in some organizations seem indifferent about the information that…

Penalties for Late Consolidated Fiscal Reports
November 18, 2011
Penalties for Late Consolidated Fiscal Reports

Do you receive payments from the New York State Office for People With Developmental Disabilities (OPWDD), Medicaid payments from the NYS Office of Mental Health (OMH), or the NYS Office of Alcoholism and Substance Abuse Services (OASAS)? If so, you’ll want to investigate late filing penalties association with Consolidated Fiscal Reports (CFR).   In the…

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