risks than ever before. One of the major responsibilities of the Board, as well as management, is to continuously assess the risks facing the Organization, both externally and internally.
Part 5 of a 5 Part Series
Can board members be held personally liable for actions of the organization? Yes!
Agreeing to sit on a board for a nonprofit is a great way to donate your time and expertise. However, it comes with a great deal of responsibility. read more…
Estimates show that over 5% of all revenue is lost to fraud and theft each year. The numbers are staggering – odds are if you have not experienced it, you will.
One of the best ways to prevent fraud and theft is to implement a system of internal controls (though no system of internal control can prevent all fraud and theft). We have developed a comprehensive checklist of internal controls you should be using, but here are our top 5: read more…
Q: As a sitting board member of an organization, can I be personally liable for the actions of the entity?
In a word, yes.
As a member of the board of directors, you assume certain fiduciary responsibilities.
Audits are important. Investors, lenders, government agencies, potential buyers and – in the case of not-for-profit organizations, your donors – rely on audit reports to assess your organization. Audits can be long, arduous, headache-inducing ordeals…but they don’t have to be. Proper preparation can go a long way towards simplifying the audit process.
Shuttered Venue Operators Grants and Restaurant Revitalization Fund Grants can pose accounting challenges.
On Aug. 10, the AICPA released a Technical Question and Answer (TQA) surrounding how a recipient should account for these grants. TQA 5270.01, Recipient Accounting for Shuttered Venue Operators Grants (SVOG) and Restaurant Revitalization Fund (RRF) Grants Received Under the Small Business Administration (SBA) COVID-19 Relief Program provides nonauthoritative guidance about how to account for SVOG and RRF grants. It applies to not-for-profit organizations who were only eligible for SVOG and private businesses entities who were eligible for both grants. read more…
Selecting a firm to conduct your not-for-profit’s audit services can feel like a daunting task. There are hundreds of firms online and most (if not all) claim to perform not-for-profit audit services.. How can you know which audit firm is the right for your Organization?
Selecting the right audit firm is like creating a long-term relationship with a partner that is dedicated to helping your organization fulfill its mission. Selecting the wrong firm can feel like trying to swim with a 500 lb. weight strapped to your back.So how can you be sure you are selecting the best fit for your needs? read more…
By Chris Valponi, APR
read more…
Part 3 of a 5 Part Series
An Organization’s management is charged with managing the day-to-day operations of the non-for-profit; however, this does not relieve Board Members from taking on certain 
oversight responsibilities.
Part 1 of a 5 Part Series
Do you ever wonder what challenges Board members are facing and how they are 
dealing with those challenges? Zinner and Co. plays a key role in helping organizations and their management team to overcome a wide range of obstacles. Our unique position of working with multiple entities allows us to take our experience and apply it to you and your organization.
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