PPP Forgiveness & The Nonprofit Double Dipping Dilemma

As borrowers near the end of their 24-week covered period and prepare to apply for PPP forgiveness, many nonprofit organizations face the issue of double dipping, or being reimbursed for the same expense twice by government agencies. A surprise to many is that the PPP guidance does not actually address double-dipping. Federal cost principles, detailed [...]

By |2021-06-07T22:09:31-07:00January 26th, 2021|General Accounting And Tax, non-profit, nonprofit|Comments Off on PPP Forgiveness & The Nonprofit Double Dipping Dilemma

Five Keys to Improving the Close Process for Nonprofits

The right nonprofit financial management team and reporting solution can be a critical driver of efficiency and visibility; the wrong solution can be a critical roadblock to strategic improvement. In accordance to “Close the Books” Survey Results – 2020 Edition, by Sage Intacct and our extensive experience with nonprofit outsourced accounting services, here are five [...]

By |2021-07-16T00:40:43-07:00January 5th, 2021|General Accounting And Tax, non-profit, nonprofit|Comments Off on Five Keys to Improving the Close Process for Nonprofits

Nonprofit CFOs Agree – Cloud Financials Key in Running a Nonprofit Today

In the mission-driven nonprofit world, accounting and financial management can sometimes slip down the priority list.  It’s not always easy to allocate budget dollars to back office infrastructure that doesn’t directly support the nonprofit agenda, and it’s even harder to find the time and expertise to make it all work.  Consider some of the obstacles: [...]

By |2021-07-15T21:58:26-07:00November 16th, 2020|non-profit, nonprofit|Comments Off on Nonprofit CFOs Agree – Cloud Financials Key in Running a Nonprofit Today

After Tax Reform, Here’s What the Nonprofit Sector is Watching

By Courtney Rozen Initial estimates aren’t promising: The American Enterprise Institute projected June 18 that the law would reduce charitable giving by $17.2 billion this year, according to a static analysis. But in the six months since Republicans passed the 2017 tax act (Pub. L. No. 115-97), much of the impact is yet to be [...]

Church Embezzlement Orange County

Interim Treasurer Fiatala Manu of the First Samoan Christian Congregational Church in Santa Ana has recently been charged with the embezzlement of upwards of $110,000.   It is alleged that Manu wrote checks to himself from church bank accounts to feed a gambling addiction.   He was called on the carpet about it when an [...]

Another Catholic Priest Gambling with Parish Funds

At least this time is was in Las Vegas. Over 10 years apparently he pocketed $650k. Again ... no one ran into this guy in the casino? I'm just saying ... Some parishioners believed that he had a Robin Hood-type reason to steal. Remember, they're called con men because THEY GAIN YOUR CONFIDENCE AND THEY [...]

By |2021-07-16T00:11:35-07:00January 17th, 2012|Forensic Accounting, fraud, financial fraud, non-profit, non-profit fraud, nonprofit, Elizabeth Ann Seton, forensic accountant, Gambling, James C. Mahan, religious organizations|Comments Off on Another Catholic Priest Gambling with Parish Funds

City of Compton Fraud … You’re Kidding!

Now the Mayor of Compton alleges fraud. Who knew? It stopped the City from getting a line of credit to handle the $41mm deficit. Good luck getting an opinion from the auditors. Apparently the last audit had a "going concern clause". Here's hoping the auditor gives an opinion (rather than disclaiming). Oh ... what a [...]

By |2020-11-16T09:30:23-08:00January 16th, 2012|fraud, whistle blower, non-profit fraud, nonprofit, auditors, Embezzlement, crappy accounting, city of Compton|Comments Off on City of Compton Fraud … You’re Kidding!

First 5 LA gets blasted for crappy accounting

Can I say "crappy"? Yes, I believe I can. And did. Apparently, First 5 Los Angeles has accumulated $800 million of taxpayer money that they're sitting on. They apparently spend $180 million per year but can't quite spend the whole amount they get ... so it sits in the bank. THAT'S OUR MONEY PEOPLE! "An [...]

By |2020-11-16T09:30:23-08:00October 26th, 2011|audit, financial fraud, internal control systems, non-profit, non-profit fraud, nonprofit, Corruption, crappy accounting|Comments Off on First 5 LA gets blasted for crappy accounting
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