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Independent Audit in Action: SDA Examines Broward County Public Schools’ Referendum Spending
An independent audit conducted by S. Davis & Associates for Broward County Public Schools found that voter-approved referendum funds were largely spent as intended, while identifying opportunities to strengthen transparency and financial oversight. Featured in the South Florida Sun Sentinel, the findings highlight the critical role of independent auditing in promoting accountability and responsible stewardship of public resources.
Southern Poverty Law Center Indictment: What Nonprofits Can Learn About Donor Transparency and Financial Controls
A federal criminal case involving the Southern Poverty Law Center is raising important questions about donor transparency, confidential programs, financial controls, and nonprofit governance. As the case continues, nonprofit leaders can draw valuable lessons about documenting sensitive activities, communicating with donors, and maintaining strong financial oversight.
Missing One Sentence Can Cost a Charitable Deduction: Lessons from Wells v. Commissioner
A recent Tax Court case shows how one missing statement can jeopardize a multimillion-dollar charitable deduction. Learn what Wells v. Commissioner teaches donors and nonprofits about contemporaneous written acknowledgments, noncash gifts, Form 8283, and other charitable contribution substantiation requirements.
GAO Quality Management FAQ: What Yellow Book Audit Organizations Need to Know
The GAO has released new FAQs to help audit organizations establish and maintain effective systems of quality management under the 2024 Yellow Book. The guidance addresses risk assessment, monitoring and remediation, engagement quality reviews, and important upcoming evaluation requirements.
How Nonprofits Can Budget Effectively and Efficiently: A Practical Guide
An effective nonprofit budget is more than a financial forecast. It is a management and governance tool that helps organizations align resources with their mission, plan for revenue and expenses, monitor performance, and prepare for changing financial conditions. This guide explores when to budget, how to build one, and why regular reforecasting matters.
Allocating Functional Expenses: What Nonprofit Finance Leaders Need to Know
Allocating expenses by function is one of the most important estimates in nonprofit financial reporting. This article explains the requirements under FASB ASC 958, common allocation methods, general ledger considerations, and why nonprofit management should develop and document its own methodology.
