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Blogging Beyond the Numbers

Posted by: Mike Steinl 2 years ago
The main reason good product ideas fail is that they get stuck between conception and development, often in processes that inhibit breakthrough innovation, according to a study by CGT magazine and Sopheon Corp. Nearly 60 percent of the study's respondents said that development resources were stretched too thin because of too many other projects under development.  The goal with new product development s...
Posted by: Mike Hablewitz 2 years ago
Great news for 501(c)(3) exempt organizations that solicit contributions in Wisconsin. Governor Walker signed Assembly Bill 778 (Act 163) into law in February and changes have now been implemented by the Wisconsin Department of Financial Institutions (DFI). The following changes are effective immediately for all applicable organizations: Annual threshold at which a charitable organization must obta...
Posted by: Derek Hilst 2 years ago
The Financial Accounting Standards Board (FASB) has issued made decisions to the proposal that could have a significant impact on not-for-profit (NFP) reporting. In 2015, the FASB issued “Not-for-Profit Entities (Topic 958) and Health Care Entities (Topic 954).” This is the biggest change to NFP reporting since 1993. The proposed changes will provide the users of the financial statements with better inf...
Posted by: Mike Steinl 2 years ago
A solid pricing strategy can do more for your business than cover costs and generate a profit. It can position you in the marketplace and affect your long-term success. In manufacturing, a key financial calculation is gross margin What is left after the cost of production is subtracted from revenues. Gross margin must cover operating overhead and desired profit. However, actual gross margin dollars fluctu...
Posted by: admin 2 years ago
Not-for-profit organizations face many of the same problems as for-profit organizations. For example, all organizations must set goals and engage in long-range planning. They also must maintain certain financial records. But not-for-profit organizations have special, unique needs when it comes to financial issues that require a CPA with specialized accounting knowledge for not-for-profit groups. Your ...
Mission trip
Posted by: Elizabeth Heins-VanderWeide 2 years ago
An important part of outreach for many religious organizations are mission trips.  It is an exciting opportunity for missioners to live into their faith by working in partnership with those they serve, be it across the state or across the globe. As spring approaches, the final planning for summer mission trips moves into high gear. Missioners and their churches have many important things to consid...
bean counting
Posted by: Mike Hablewitz 2 years ago
As stewards of critical resources that allow faith-based organizations to survive and do the good works they are called to do, those in position of managing the finances of religious organizations must develop the ability to identify financial problems that might be on the horizon. Unfortunately, as is shown by the number of churches and other religious organizations struggling to remain operationally af...
Posted by: Yigit Uctum 2 years ago
Once your organization obtains exempt status under IRS 501(c)(3), it is important to be aware of the Federal and State rules and regulations that must be followed to avoid jeopardizing the organization's exempt status. Required Federal Filings 990, 990-EZ, or 990-N Annual information return for public charities.  Type depends on the organization's size.  Return is due on the 15th day of the 5th month...
Posted by: Yigit Uctum 2 years ago
Charity Navigator is a nonprofit organization that evaluates the performance of 501(c)(3) Public Charities.  Each charitable organization reviewed is assigned a star rating from 1 to 4.  Obtaining a 4-star rating from Charity Navigator can boost an organization's ability to secure donations and grants from donors. The purpose of the star rating is to show donors how efficiently a charity is using their...
Posted by: Yigit Uctum 2 years ago
Below is a list of the most common information needed to prepare a 990.  Less information is needed to prepare a 990-EZ and more information is needed for more complex organizations but this is a good starting point. Basic Information Organization's legal name, full address, and Federal Employer Identification Number (EIN) Organization's website Name and title of the person who will be ...