June 2015

How Nonprofits Can Effectively Work with Donor Advised Funds

Due to cutbacks in government programs, nonprofits are scrambling to replace funding.  Some fundraising professionals have noted that there are substantial amounts of money sitting in donor advised funds (DAFs). In the past few years, DAFs assets have increased significantly. According to the National Philanthropic Trust’s 2014 annual survey, there are now at least 217,000 DAFs that collectively hold about $54 billion in assets.

Tips To Better Manage Nonprofit Finances

Forbes Magazine recently reported on the top five tips to best manage nonprofit finances.  At the top is elevating your finance office from policing compliance to being a thought partner. In other words, engage your finance leadership in conversations that matter. The remaining tips encourage nonprofits to strike the right balance in informing your team about the organization’s finances, understand the full cost of running programs, evaluate every new funding opportunity as it relates to what it will cost to spend the money and lastly, maintain a reserve fund to provide stability and reduce uncertainty.

More About New Nonprofit Reporting Standards

See what the AICPA is saying about these new changes and how they will impact nonprofits. 
© 2015 Edelstein & Company LLP. All Rights Reserved.
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