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...

Schools are constantly looking for ways to utilize technology to improve the educational experience. Educators have quickly understood that Artificial Intelligence (AI) can be used to help a variety of students as it can adapt to different learning styles. For...

Many school districts allow employees to carry over their accrued leave balance at the end of a fiscal year. Some districts have different policies for distinct types of leave. For example, policies may allow for the paying out of accrued vacation leave but not...

Your nonprofit might acquire new donors regularly, but how often are they sticking around to give a second gift to your organization? If you’re like most nonprofits, you likely struggle to retain newly acquired donors. The average donor retention rate sits between...

With rising costs due to inflation, escalating salaries, and increased cost of debt, everyone is searching for ways to reduce costs. One area that companies can look at is reducing Workers’ Compensation insurance premiums. One component of Worker’s Compensation...

Approximately 7.8 million people are employed by the construction industry, as of January 2023 — that’s about 2.9% of the U.S. workforce. Despite being a significant contributor to employment, the construction industry faces a unique challenge with an average annual...