Here are eight top business practices that all not-for-profits
should consider implementing:
Second, there are many large not-for-profits
that generate more than $10 million in economic activity that are snuggling or weak and are losing money.
It is time that CPAs and other advisors recognize that not-for-profits
are also businesses and need to follow best business practices.
Bank of America Dallas (NYSE: BAC) has announced that it has appointed Richard Vitale as the leader of the bank's Not-For-Profit
Healthcare And Institutions practice group for North and Central Texas.
Further, more and more of the people who do donate to not-for-profits
demand that their gifts be used for specific purposes, which further increases the risk of fraud.
In some respects, directors and officers may be at a greater risk of liability in a not-for-profit
company than they would be in a for-profit corporation, as many not-for-profits
have smaller budgets, fewer personnel performing more functions, and often, less formal policies and procedures in place to protect them against claims.
are realizing that in order to effectively pursue large-scale community development, they may need to partner with for-profits that bring a higher level of construction and financial expertise.
It really means that for-profits and not-for-profits
use their positive cash flow in different ways.
have had special obligations to provide access to health-care services for the poor.
Focusing its long-term care analysis on the approximately 4,500-facility not-for-profit
sector, Fitch has seen fit to give an investment-grade rating to only seven.
And when coupled with the additional problem of heightened competition from social-service not-for-profits
, the future for arts institutions looks very uncertain.
In addition, all not-for-profits
will be required to restructure their financial statements.
Use of data from the Inventory of Mental Health Organizations (National Institute of Mental Health 1983, 1986), revealed that not-for-profits
provide more services and serve more of the underinsured, while for-profits serve the better insured, concentrate primarily on inpatient services, and serve more children, adolescents, and substance abusers.
Houston, Texas 40E Government, associations, not-for-profits
Award of EXCELLENCE Entry: MEDLINK Winner: Mary J.
We greatly appreciate their efforts and their willingness to share specific ideas on how financial reporting about not-for-profits
can be improved.