In order to attract or retain the most competent and proficient person as an executive director, a nonprofit’s board of directors should consider level of compensation. How much is too much? What parameters classify reasonable compensation? Thankfully the IRS has put in place regulations to answer these very questions.
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Topics: Compensation, IRS Regulation, Nonprofit, Salary, Tax, Uncategorized
Special events can be exciting and are a great way to gain community involvement. With that being said, special events are very stressful to plan. On top of planning – how do you classify your associated revenues and costs? There may be more your nonprofit must do than to simply lump everything together as “fundraising.”
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Topics: Special Events, Contribution, Donors, Financial Reporting, Fundraising, Nonprofit, Statement of Activities, Tax, Transactions, Uncategorized
Building a Foundation for Effective Endowment Management
Posted by celliott on Aug 11, 2014 2:41:20 PM
This article was contributed by Mike DeWitt, nonprofit leader of Smith & Howard Wealth Management.
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Topics: Performance Monitoring, Asset Allocation, Endowment Management, Investment Policy, Nonprofit, Spending Policy, Uncategorized, UPMIFA
The Georgia International Business Index (GIBI) Report is underwritten by the Manufacturing and Distribution Group of Smith & Howard, a top Atlanta accounting firm, and is produced quarterly by the Econometric Center at Kennesaw State University.
The GIBI fell by 10.7 points from 69.8 to 58.9 in the second quarter of 2014.
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Topics: distribution, Econometric Center, Employment, GIBI, global, inventory, Kennesaw State University, KSU, manufacturing, Production, Tax, Uncategorized
August 1, 2014: Georgia's Purchasing Managers Index (PMI) is a reading of economic activity in the state's manufacturing sector. The PMI was down a staggering 8.9 points for July.
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Topics: Commodity Price, distribution, Employment, Finished Inventory, manufacturing, New Orders, PMI, Production, Supplier Delivery Time, Uncategorized
Certain borrowers that lease assets from related parties may now qualify for an alternative accounting method under Generally Accepted Accounting Principles (GAAP) that doesn’t require consolidation. That’s good news for lenders who often request supplemental schedules to reverse the effects of consolidation to get a clearer picture of financial results.
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Topics: qualifying leases, related parties, accounting alterantive, Commercial Lenders, leased assets, Uncategorized
Everyone deserves a second chance or “mulligan,” as they say in golf. But lenders become understandably uneasy when borrowers reissue their financial statements. They wonder, “Why couldn’t they get it right the first time?” or “What are they trying to hide?” For most borrowers, financial restatements result from an honest mistake or misinterpretation of accounting standards, rather than from incompetency or fraud. But that’s not always true, as this hypothetical example points out.
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Topics: Commercial Lenders, lease accounting, reissued financial statements, restatements, Uncategorized
Forecasting can help borrowers anticipate future financing needs and prove that they’ll be able to repay loans. But how do lenders know whether a forecast is achievable — or merely wishful thinking? Reliable budgets and business plans are based on forecasts that share several common denominators.
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Topics: Commercial Lenders, financial projections, forecasting, Uncategorized
Dashboard Reports: Let real-time data drive lending decisions
Posted by celliott on Jul 31, 2014 1:49:21 PM
An important part of a lender’s job is evaluating a borrower’s financial condition. But unearthing trends and early warning signals of financial distress from financial statements alone is challenging. Dashboard reports simplify the due diligence process by providing a one- or two-page summary of key performance metrics in a concise, visual format. These reports use customized ratios and graphs to tell the story behind the financial statements.
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Topics: Commercial Lenders, Dashboard Reports, Uncategorized
In early June, the European Commission increased pressure on Ireland, the Netherlands and Luxembourg over their corporate tax practices, saying it would investigate deals they cut with Apple, Starbucks and Fiat. In fact it warned Ireland, which offers offshore tax status, that it could investigate more companies beyond Apple as part of its probe into taxes.
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Topics: Tax Law, EU, International Tax, Tax, Uncategorized