BDO In The Media
BDO professionals believe in the importance of staying on top of new trends, issues, and regulations. Viewed as industry leaders, our professionals are often turned to as media sources regularly appearing in major business journals, industry publications and media outlets. The following list is a sample of recent articles highlighting BDO's Nonprofit & Education practice.
- Making the Grade: Managing Evolving Risks in Higher Education (Risk Management)
- In March 2019, the U.S. Department of Justice uncovered a bribery and fraud scheme that was granting students admission into some of the country’s top universities based on falsified credentials and extensive financial resources. The scandal uncovered high risk for the traditionally autonomous and unaffected high-profile admissions departments.
- A Benchmarking Tool for Nonprofits Spells Out Top Issues (Knoxville News Sentinel)
- Top issues facing nonprofits in 2019 include the starvation cycle, technology, regulatory changes and more. The Nonprofit Standards Benchmarking Survey allows organizations to see how they stack up against the competition.
- Do Nonprofit CEOs and CFOs Occupy a Strategic Space Together? Not Always (Nonprofit Quarterly)
- Laurie De Armond explains that decisions can be made from a more holistic approach when CEOs and CFOs engage in collaborative discussions.
- Can CEOS and CFOs Get on the Same Page? (Associations Now)
- CEOs and CFOs have contrasting priorities when it comes to decision-making and strategic planning and, though it may seem like a small bump in the road, this can create obstructions for a nonprofit’s efficiency.
- Nonprofits Face ‘Starvation Cycle’ (Accounting Today)
- Adam Cole describes a decrease in funding for many nonprofit organizations and alongside an even greater demand for services. Faced with the potential of the “starvation cycle,” nonprofits may have to tap into operating reserves to stay afloat.
- ‘Starvation Cycle’, Regulation Among Nonprofits’ Top Concerns (PhilanthropyNewsDigest)
- Seventy percent of surveyed nonprofits identify variability in revenue or funding as a challenge. Since much of their financial resources are invested into program-related activities, nonprofits are left with little-to-no room for operating reserves, new technologies, and more.
- At Nonprofits, the “Reward” for Work Still Isn’t Money (Fast Company)
- Our benchmarking survey found that nonprofit employees feel emotionally rewarded in the work they do, but, too often, feel they’re not being paid what they’re worth – a sentiment that can negatively impact the functionality of organizations.
- Liquidity, Regulation Among Not-for-Profits’ Top Challenges (Journal of Accountancy)
- Much of the funding that nonprofits rely on dried up during the 2008 financial crisis and, despite economic recovery, hasn’t returned. Nonprofit organizations fear that changes in regulations will encourage a decline in donations.
- Regulation Concerns Spike Among Nonprofits (CPA Practice Advisor)
- The annual Nonprofit Standards benchmarking survey provides a barometer to measure the performance of organizations across an array of areas, including strategic planning, human resources, operations, scope and impact and governance matters.
- Regulation, Legislation Top Executive Worries List (The Nonprofit Times)
- Regulatory and legislative challenges are a top pain point for this year, as changes continue to be made to the federal tax code, data privacy regulations and financial reporting guidelines.
- Nonprofit Health, Human Services Organizations Expanding to Meet Growing Demands (Becker’s Hospital Review)
- A study conducted by the BDO Institute for Nonprofit Excellence found that health and human services organizations have seen expanding missions and growing staff rosters in order to meet increasing demand for services.
- Data Nugget: Easy Flexing (Associations Now)
- Nonprofit employees are demanding flexible schedules, and more than half of organizations are confident they can meet those demands. Associations Now highlights more human resources findings from BDO’s Benchmarking Survey.
- Funding Innovation in the Nonprofit Sector (Philanthropy Journal)
- Nonprofit leaders recognize the need to innovate, yet they operate in a resource-constrained reality. What can nonprofits do to bridge their resource gap and allocate, or secure, the funds to innovate? Andrea Wilson shares her perspective in the Philanthropy Journal.
- Are Grants Subject to Revenue Recognition? (Venable blog)
- With the deadline to implement revenue recognition fast approaching, the Financial Accounting Standards Board (FASB) issued clarified guidance to standardize how organizations classify grants. In a Venable blog, BDO’s Lee Klumpp explains what’s changed for nonprofits.
- Opinion: Don't Be Calm Before the Coming Storm (The NonProfit Times)
- Citing findings from BDO’s Nonprofits Standards around nonprofit sustainability, a NonProfit Times op-ed explores the shifting fundraising landscape.
- 990s: Failure to File (Credit Union Times)
- BDO’s Marc Berger discusses the consequences of filing an inaccurate or incomplete Form 990 for credit unions and other tax-exempt organizations.
- Nonprofits Remain Victims of Their own Ambition (Fast Company)
- In a conversation with Fast Company, BDO’s Adam Cole and Laurie De Armond share top findings from BDO’s second annual benchmarking survey, Nonprofits Standards, and tackle an age-old question: Are nonprofits’ financial practices sustainable?
- Strategies for Quality Work in Single Audits (Journal of Accountancy)
- At the AICPA Not-for-Profit Industry Conference, BDO’s Laurie De Armond emphasized the responsibility that CPA practitioners have to focus on quality as they perform single audits. A full recap of the presentation appears in the Journal of Accountancy.
- Are Grants Subject to Revenue Recognition? (CPA Practice Advisor)
- Clarified guidance from the Financial Accounting Standards Board (FASB) could lighten the administrative burden of implementing revenue recognition for some nonprofits, BDO’s Lee Klumpp explains in CPA Practice Advisor, outlining a practical example for how to classify grants.
- FASB Updates Accounting for Nonprofit Grants and Contributions (Accounting Today)
- “Accounting changes are like a relay race,” BDO’s Lee Klumpp tells Accounting Today. “Today, the FASB handed off new clarified guidance on accounting for contributions and answered a longstanding question for the sector. Now, it’s up to nonprofits to apply it to their own books, run the rest of the race to implement revenue recognition guidance, and finish strong.”
- Survey: Organizations Face “Starvation Cycle” (The Nonprofit Times)
- BDO’s second annual nonprofit benchmarking survey, Nonprofits Standards, reveals that many organizations are not positioned for long-term financial sustainability. BDO’s Laurie De Armond and Adam Cole explain why the “starvation cycle” is a persistent phenomenon among nonprofits, and outline steps they can take to improve their fiscal health.
- FASB Expected to Issue Nonprofit Accounting Guidance on Grants (Accounting Today)
- In a conversation with Accounting Today, BDO’s Lee Klumpp previews a forthcoming clarification from the Financial Accounting Standard Board (FASB) that aims to standardize how grants are classified, as either an exchange transaction or a contribution.
- Clarity Coming for How Nonprofits Should Report Grants (Bloomberg Tax)
- BDO’s Lee Klumpp explains forthcoming guidance from the Financial Accounting Standards Board (FASB) that will clarify how nonprofits should classify grants from the federal government, foundations, and other contributors.
- Is it time for nonprofits to consider merging? (Bennington Banner)
- The Vermont-based publication zeroes in on the health of the state’s nonprofits and posits that the financial challenges captured in data from BDO’s benchmarking survey, Nonprofit Standards, could spur mergers of similar organizations.
- Special Report: Serving Nonprofits (Accounting Today – registration required)
- Adam Cole reviews how the increasing uncertainty in the nonprofit sector lead to accounting and financial challenges.