990, Is This an IRS Form or What? - Topic for February 26, 2008

Please join us for our next meeting, February 26 when Jen Vacha and Janet Ramey from Brown, Smith and Wallace walk us through the not-for-profit version of the 1040 - the IRS 990 form. We will learn how to distinguish in-kind goods from in-kind services as well as how to complete the form with the least amount of pain. A definite challenge when tackling IRS forms. See you there.

Allocations Part II - What to do???

Darrell Songer and Allan Larson of Larson Allen, presented Part II of Allocations and Functional Reporting. They focused on how to do cost allocations which generated much discussion with the 23 attendees, who asked questions like how to treat specific administrative costs such as grant writers, accountants and audit costs, Songer and Larson provided these handouts: sample Cost Allocation Plan and the section of the AICPA Not for Profit Audit Guide on cost allocations. But the basic rule of thumb seems to be that if the adminstrative cost would still exist even after a program has been eliminated, then that administrative cost should not be allocated to the program.

Allocations Part II - Topic for January 22, 2008

Please join us at our next meeting for the second part of our allocations discussion with Allan Larson of Larson Allen. We will discuss examples of cost allocation formats as well as expenses that should always be directed toward administration rather than allocated among functions.

A New Year - A New I-64 (Highway 40)

Because we meet each month at the downtown offices of United Way, many of us rely on I-64 to take us to the meetings. Beginning today, that route may no longer be an option for many of us. To help you navigate your way to our meetings during the I-64 re-construction, we've added some rss feeds that provide links to traffic and public transportation updates.

Happy trails!!