Not-for-Profits Benefit from Effective Grant Management
Posted by Babita Sherchan, Principal, Assurance Services on Aug 11, 2021
LGT's Profit Sense
What is Unrelated Business Income and How Does it Impact Not-for-Profit Organizations?
Posted by Sheryl Grady, Supervising Senior, Accounting & Consulting Services on Apr 9, 2021
As a not-for-profit (NFP) organization, you were founded with a benevolent purpose to pursue a mission to aid your community through charitable, education, and other types of endeavors. To help...
4 Key Changes Nonprofits Should Expect in a Post-COVID World
Posted by David H. Ovesen, CPA, Partner of Assurance Services on Mar 16, 2021
The COVID-19 pandemic has fundamentally changed the way that the world operates, and it is unlikely to change significantly in the near-term. How will these changes affect how nonprofits function...
FASB releases guidelines for reporting gifts-in-kind
Posted by Babita Sherchan, Principal, Assurance Services on Feb 8, 2021
The Financial Accounting Standards Board (FASB) has released Accounting Standard Update (ASU) 2020-07, Not-for-Profit Reporting of Gifts-in-Kind. The purpose of the ASU is to improve GAAP...
Donor Advised Funds: Smart Giving
Posted by Sara Godecke, CPA, Senior Manager, Audit services Department on Aug 7, 2020
In my desire to be more philanthropic I began serving on a finance committee for a foundation. During this time, I was introduced to one of the most impactful giving tools—the donor advised fund....
How Not-for-Profits Can Use Virtual Fundraising During the Pandemic
Posted by Sheryl Grady, Supervising Senior, Accounting & Consulting Services on Jul 10, 2020
Like all business operations, the COVID-19 pandemic is changing how not-for-profit organizations execute their fundraising activities. No one knows how long the crisis will last, and...
Sound Financial Management Helps Not-for-Profits Through the COVID-19 Pandemic
Posted by Babita Sherchan, Principal, Assurance Services on Jul 10, 2020
As the new paradigm of the global pandemic sets in, many not-for-profit organizations are pivoting to adapt and cope. Many organizations are making changes to their services, operations, and...
The Next 70 Years
Posted by David H. Ovesen, CPA, Partner of Assurance Services on Jul 8, 2020
David Ovesen, CPA started with LGT on September 1, 1987 as a staff accountant and along Lee Ann Collins, the current managing partner; Bill Walsh, financial advisors partner; and tax principal...
Not-for-Profit’s Guide to Federal COVID-19 Stimulus Legislation
Posted by Van Nguyen, Senior II, Accounting & Consulting Services on May 13, 2020
The U.S. government has approved far-reaching legislation to provide relief to American families, businesses, and not-for-profit organizations. Two significant bills are the Families First...
Nontraditional Partnerships for Not-for-Profits: What to Consider Before Signing On
Posted by Lucas LaChance, CPA, CIA, Partner of Practice Growth on Feb 10, 2020
Reductions in state and federal budgets have prompted many not-for-profit (NFP) organizations to find new ways to achieve their mission by seeking nontraditional partnerships with businesses and...