Jan 24, 2024 | Business Planning, Closely Held Business, Estate Planning, Featured News and Events, Not-for-Profit, Personal Financial Planning, Real Estate
Last week, Dr. Terry Clower was guest speaker for MCB’s annual Economic Outlook event, where he shared insights on the state of our national and local economies. MCB has sponsored the Economic Outlook event with Dr. Clower in January for the past 10 years. Also...
Sep 6, 2022 | Business Planning, Closely Held Business, Not-for-Profit
At the end of each month, you need to complete a month-end report to update your accounting statements. You also have to issue a year-end report and mail IRS Form 1099s to vendors for their taxes. Following are just some of the many issues you have to address: ...
Jul 19, 2022 | Accounting & Audit Updates, Not-for-Profit
Due diligence is an investigation, an audit or a review performed to confirm facts or details of financial records. The objective is to confirm accuracy and appraise value. Audits often help uncover issues and avert potential ones in the future. When you outsource...
Jul 12, 2022 | Not-for-Profit
You get a large donation from a well-heeled graduate who wants it to be used for a new science building. This is just one example of money with strings attached that nonprofits need to manage appropriately. But allowing donors to have input in the use of financial...
Jun 7, 2022 | Not-for-Profit
A budget is a planning tool that reflects an organization’s programs, mission and strategic plan. The process should begin at least three, maybe even four months before the end of your nonprofit’s fiscal year — you need enough time for the budget to be...
Mar 8, 2022 | Not-for-Profit
At many nonprofits, managers may be spending too much time trying to decide if it’s worth the money to engage a CPA firm to help the organization with its finances. After all, resources are often very limited at nonprofits. However, managers would do well to consider...
