A well-respected and well-recognized name within the non-profit industry, Wegner CPAs thoroughly understands the importance of the many factors that determine the success of your organization. With competition for revenue sources being stronger than ever and regulations continually increasing for the non-profit industry, you can depend on Wegner CPAs as your most valued advisor. We will ensure compliance with laws and regulations and discover operating inefficiencies.
Accounting
What does your organization’s current financial close process look like? Whether you scramble every month or feel like things run smoothly, it’s helpful to pay attention to certain key areas.
- We provide fractional CFO services as well as business consulting, risk management, grant management, and strategic planning assistance to nonprofits. We have over 20 years of experience in the nonprofit management field and love working with clients to help them meet their goals and pursue their missions. We also provide advising and support to individuals seeking to form their own nonprofit organizations.
We work remotely with clients all over the globe, as well as in-person for any clients within the NC Triangle area. In this session, we will discuss recent and upcoming changes to accounting guidelines and regulations impacting the nonprofit industry, implications of these new guidelines, and strategies you can use now to help you prepare for what’s to come.
Disclaimer: This recording is from the 2021 Nonprofit Legal Compliance Workshop, hosted on September 15, 2021. Some laws and rules may have changed since that date.
Tony Martignetti Nonprofit Radio - "Every nonprofit struggles with these issues. Big nonprofits hire experts. The other 95% listen to Tony Martignetti Nonprofit Radio. Trusted experts and leading thinkers join Tony each week to tackle the tough issues."
Nonprofit Cost Analysis Toolkit: Six Steps to Finding the True Costs of Programs asserts that an "effective true-cost analysis accurately allocates direct as well as indirect costs across focus areas such as programs, geographic sites or particular products, allowing nonprofit leaders to make more informed decisions about strategy and funding." The guide's steps are to first determine the scope of the analysis to be conducted, g
This program is designed to strengthen the financial resilience of nonprofit organizations in North Carolina. Intended for both funders and nonprofit leaders, the program will begin with an introduction to the concept of “full cost” funding and budgeting as strategies to support nonprofit financial health. Full cost goes beyond programmatic budgeting to include things like having working capital to pay bills on time and having reserves to manage risks or opportunities.
The Nonprofit Finance Fund (NFF) is a national nonprofit with offices across the US which offers educational materials on nonprofit financial management. Their Fundamentals for Nonprofits offers a wealth of templates, workbooks, and self-assessment tools.
Jaime Campbell, Tier One Services, LLC and Mig Murphy Sistrom, Mig Murphy Sistrom, CPA, PC
We are both CPAs and accounting firm owners, committed to serving the nonprofit sector. We welcome this opportunity to share our observations and advice on how the pandemic has affected the accounting work of nonprofits. Since we are both committed to centering racial equity in our work, we have applied an equity lens to these topics.
Presenter Michele Pratt, CLA, shared in-depth details about PPP loan forgiveness, including eligible costs, required documentation, who is eligible to use the EZ application, clarity on limits for both the 8- and 24-week periods, PPP Flexibility Act and the safe harbor date, and the impact on year-end financial statements. She also explored financial modeling, with discussion of the impacts from COVID-19, cash management and cash modeling, contingency plan considerations, and scenario planning.