Nonprofit organizations often receive financial support from donors, foundations, government agencies, and other entities in the form of contributions and grants. Accounting for these transactions can be challenging, as they may involve complex terms and conditions that affect the timing and amount of revenue recognition.
The U.S. Department of Labor has made a significant move with its latest final rule, which revamps regulations concerning overtime pay eligibility. This change is poised to impact the lives of millions of American workers, addressing long-standing concerns and modernizing labor standards. Let’s delve into why this development is crucial and how it will affect both employees and employers.
WATCH A CLIP OF THE EPISODE ABOVE! In this episode of Beyond the Donation, managing partner Ken Cerini of accounting firm Cerini and Associates discusses strategies for better fiscal management and the roles of board members in a strong nonprofit. Ken stresses the...
ACH payment fraud is becoming more common, and it is believed that the fraudsters target certain types of individuals. Unfortunately, school districts are one of those targets. Financial institutions play a crucial role in safeguarding bank accounts from fraud;...
For many school districts, especially larger districts, reviewing the utility invoices can be a cumbersome process as schools have multiple accounts. We have noted that recently late fees have been added and are cropping up across the Island. Many districts have asked...
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