Accounting and Reporting Changes Affecting nfp's Part I - Topic for April 28, 2009

Ever get confused when you hear finance pros discuss terms like "mark to market" and "underwater investments?" If you answered yes, then please join us at our next meeting, Tuesday, April 28 when Janet Ramey of Brown Smith & Wallace will take us through all the latest investment accounting and reporting changes brought on by the weakened economy.

This is the first of a two-part program on accounting and reporting changes affecting nfp's. Part I will focus on asset valuations with particular emphasis on the following:

• Investment valuation
• Endowment accounting
• Meaningful financial reporting in an uncertain financial environment - based on recommendations from the nfpFMA 3/24/09 meeting

Part II will emphasize the event accounting and overhead expense allocations.

So celebrate the end of tax season and the successful filing of your nfp's 990 by attending the meeting April 28!

Surviving the Economic Downturn - It can be done

On Tuesday, March 24, 2009, Rick Aselage and Amy Altholz of RubinBrown reviewed eight strategies nfp's can use to survive the economic downturn. They are:

• Budgeting and Performing Break-Even Analysis - develop a realistic contingency budget with the worst case scenario, then identify the most significant expenditures and where the most benefit could be realized by reducing costs (see notes from 2/24/09 nfpFMA meeting on health care costs to get started!)
• Assessing Fundraising Strategies - expand planned giving efforts, evaluate the profitability of special events relative to the resources neede to put them on, and be willing to work with donors to restructure promises to give
• Evaluating Financing Options - Check with lenders on the status of credit lines well before the renewal dates
• Managing Endowments and Restricted Funds - proceed with caution if taking out loans from restricted endownments, and cease all distributions from endowments that "underwater" (when the FMV is less than the original contribution amount)
• Developing Downturn Strategies - sometimes mergers or acquisitions of other nfp's could save the missions of both
• Preventing Fraud - continue to enforce high internal control standards. With a downturn, the fraud triangle of "motive, opportunity, and rationalization" are much more likely to occur, especially if controls are loosened because of staff downsizing.

A ninth suggestion was put forth by the members of the nfpFMA:

• Take Advantage of the Uncertainty to Seize Opportunities that would not otherwise exist - this includes collecting suggestions from staff for revamping, upgrading, or changing processes and procedures, developing new service areas, and implementing new fundraising strategies or prospects leads.

Surviving the Economic Downturn - Topic for March 24, 2009

Since mid-September, many not-for-profits have experienced declining revenue from their investments, from donors who rely on investments for discretionary spending, from local companies who are undergoing downsizing and unable to donate because of it, and from governmental entities that are seeing declining tax receipts. So not-for-profits find themselves confronted with a situation of declining revenues and increasing service requests. What to do? Learn how to cope in these trying times at our next meeting.

On Tuesday, March 24, 2009, Rick Aselage of RubinBrown will speak on the topic "Not-for profits: Operating in Bad Economic Times." Rick will take us through the economic outlook and how that will impact nfp's. From there he'll offer some suggestions and action steps we can take to make the most of a weak economy.

How Healthy is Your Medical-Wellness Benefits Program? - Get Help from your Broker

On Tuesday, February 24, 2009, nfpFMA members heard about a variety of Health Benefits options even small not-for-profits can use. Bill and Barb Heftel of B&H Associates and Bill Maher of MRCT Benefits Plus discussed ways employers can control the cost of medical insurance premiums by using such tools as Health Spending Accounts, Health Reimbursement Accounts, and Flexible Spending Accounts. The speakers also suggested using online applications so that employees complete one application that in turn populates the carrier applications. Finally, the speakers discussed ways Wellness Plans are addressing the primary factors of healthcare cost: smoking, obesity, lack of physical exercise, and lack of consumerism.

How Healthy is Your Medical-Wellness Benefits Program II - Topic for February 24, 2009

Join us Tuesday, February 24, 2009, when Bill and Barb Heftel of B&H Associates discuss ways to keep health costs in check. This meeting is the second of a two-part series on Health-Wellness. The first meeting in this series was set up to be a round-table discussion on health expense and wellness management concerns, but was cancelled because of a winter storm. Therefore, we have been collecting your thoughts on this topic by email.

Bill and Barb will take up many of the emailed questions and in addition, will offer suggestions we can implement to reduce health care costs and manage wellness plans.

Banking Services for nfp's - There are many choices

On Tuesday, November 25, Susan Aiello, Vice President, Treasury Services of Commerce Bank outlined many of the banking services offered to not-for-profits. From making deposits remotely by scanning and sending, to collecting donations by credit card, paying invoices online, directly depositing payroll, and managing fraud prevention, banks are putting technology to work for us.

Managing Risk in Today's Economy - nfp seminar Thursday, January 29, 2009

RubinBrown accounting's not-for-profit team is presenting a seminar called "Managing Risk in Today's Economy" for Thursday, January 29, 2009. Please visit their web site for more information.