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Blogging Beyond the Numbers

Budget
Posted by: Christin Biermeier 3 years ago
No matter what stage your business is in, it is important to create and manage a budget.  By creating a budget, your business will be able to plan for both future growth and unexpected decline. In today's economy, a business must always be prepared for the unexpected and should never be without a working budget. Why a budget is important Budgets allow a business to create a financial roa...
stack of coins
Posted by: Mike Hablewitz 3 years ago
Many nonprofits would like to create or expand revenue-producing activities in addition to their existing sources of primary financial support. These might include: Membership dues Fundraising events Government, foundation or corporate grants Program service revenue Investment income Rental income Gains from sale of assets or merchandise Tax-exempt revenue Depending on ...
Posted by: Adam Kuczynski 3 years ago
As I’ve been back from the Netherlands for a few weeks now and I think back on my time there, it’s hard to pick a favorite place as everything was unique and great in its own way.  Rotterdam was neat due to the modern architecture, with the new Market Hall being my favorite building.  Dinner with Rene and Fabricio on the ship was a cool experience, as well as taking the water taxi to get there.  Vi...
Posted by: April Campbell 3 years ago
For some nonprofit organizations, selling goods and/or services is a way for them to support their mission.  In most circumstances, these organizations are required to collect and remit sales and use tax (5.5% in Dane County) related to the sale of the goods and/or services.   The good news is there are exemptions which can exclude the nonprofit organization from paying the sales tax. Beginning i...
Posted by: Mike Hablewitz 3 years ago
Cell phones are such a normal daily part of our lives that it is hard to remember a time when we didn't have them around. Today, we use our cell phones to talk, text, check work and personal e-mail, read the news, record the kids' latest soccer game - the list goes on and on.   Not just cell phones anymore - smart watches and tablets are also commonly used for both personal and business matters. Unfo...
Safeguard Assets
Posted by: Mike Hablewitz 3 years ago
As members of a religious organization, we probably do not want to entertain the idea that the people handling the finances could be dishonest. But, the truth is that fraud is a serious problem in all types of organizations, and religious organizations are certainly not immune.  In fact, religious organizations often have limited resources and staff, which makes it difficult to establish adequate intern...
Posted by: Mike Steinl 3 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 3 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 3 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 3 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...
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