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.
- Scaling Your Nonprofit's Impact Starts With Your People (Forbes)
- As the nonprofit sector becomes more focused on accountability and performance, grantors and other stakeholders are increasingly emphasizing capacity-building. This can take the form of improved financial management, strategic planning, efficient internal communication and a wide range of other internal capabilities. But one contributor to a nonprofit’s capacities encompasses all of the above: its people.
- Guilford College’s shifting strategy (Business North Carolina)
- Guilford College faces a serious financial bind, which isn’t a novel situation for one of the South’s oldest coeducational institutions. In 2001, the Greensboro college formed in 1837 by the Society of Friends, better known as Quakers, had an annual deficit of more than $11 million and appeared to be in a downward spiral. Trustees recruited veteran educator Kent Chabotar as Guilford’s first non-Quaker president.
- Project Grants Need Not Be the Enemy (Center for Effective Philanthropy)
- The term “nonprofit starvation cycle” describes the experience of many nonprofit organizations that struggle financially because most of their funding comes from project grants with strict limits on paying for indirect costs (or overhead).
- Debate Amid Pandemic: Should Foundations Have to Give More? (Associated Press)
- The viral pandemic wiped out jobs and businesses and left many U.S. families unable to afford food. It also caused a crisis for charities: Too much need, too little funding.
- Nonprofits, Businesses Receiving PPP Could Face Surprise Audits (Accounting Today)
- Nonprofit and for-profit organizations that received Paycheck Protection Program loans could unexpectedly find themselves confronting the “single audit” requirement for the first time, even though PPP loans are supposedly exempt.
- Noetic Search Assists After School Matters in Finding New CFO (Hunt Scanlon Media)
- Noetic Search has assisted After School Matters (ASM) in the recruitment of Michael Bradley as its new CFO. Noetic Search was seeking a proven financial and operational strategist who has a successful track record of fiscal integrity and strong management skills.
- The Lowest-Paid Workers in Higher Education are Suffering the Highest Job Losses (The Washington Post)
- Eugenia Bradford believed her job was safe. After all, she was the only administrative assistant for college advising services at Kennesaw State University in Georgia. Who else would schedule appointments or supervise work-study students if she were gone?
- Black Woman Tech Founder Shows How Innovation Is Done in the Silicon Bayou (Forbes)
- Unicorns were once mythical in the tech world. In recent years, more and more companies have achieved billion-dollar valuation, which qualifies them for unicorn status. However, you rarely see founders who break the typical profile—male; white; headquartered in Silicon Valley, New York City, and Boston; holding an Ivy League degree; and having cofounders.
- How to Restructure Salaries and Staff in Lean Financial Times (Associations Now)
- As the economic impacts of the pandemic continue to weigh on associations, budgets have become leaner. Budget shortfalls can be reduced by reassessing compensation and job duties, or, if that fails, downsizing, says an expert.
- Updated: Main Street Lending Program now open to nonprofits (Candid.org)
- On July 17, the Federal Reserve announced release of an expansion to its Main Street Lending Program (MSLP) to address the liquidity needs of nonprofit organizations that have been impacted by the COVID-19 pandemic.
- B.E. Smith Seeks CFO for Alaska Native Tribal Health Consortium (Hunt Scanlon Media)
- August 5, 2020 – Chief financial officers continue to be in high demand. Finding them is keeping many of the nation’s top recruitment operations busier than ever. B.E. Smith, a healthcare-focused executive search firm, was recently called in by non-profit Alaska Native Tribal Health Consortium (ANTHC) to lead its search a new CFO. Andrea Merideth is heading the assignment.
- Money Short Even Before COVID-19 (The NonProfit Times)
- Charities in the United Kingdom held just enough “free reserves” — unencumbered funds — to cover two months’ operating expenditures before country went into lockdown at the end of March. That compares with three months’ worth of reserves in 2017, per a report from Zavantem, Belgium-based BDO Global, an accounting and business advisory conglomerate.
- Congress passes bill to help nonprofits with cash flow amid coronavirus (Accounting Today)
- The Senate unanimously passed bipartisan legislation Wednesday to help nonprofits, state and local governments, and federally recognized tribes remain financially viable during the COVID-19 pandemic by ensuring they receive federal help for unemployment payments upfront, instead of being reimbursed later.
- 2019: A Very Bountiful Year in Philanthropy (Benefactor Group)
- Key Qualities That Are Helping Organizations Thrive During the Pandemic (Associations Now)
- While some associations have struggled to survive due to the COVID-19 pandemic, others have managed to thrive, pivoting their resources to meet member needs. A new report from BDO, Nonprofit Standards: A Benchmarking Survey, includes a section on what has helped nonprofits thrive during the pandemic.
- 'Timing was right' for GR youth housing organizations to merge (MiBiz)
- Two Grand Rapids youth housing organizations and longtime partners have merged into one organization after years of consideration, aligning with recent consolidation trends among nonprofits.
- Leading during a pandemic: Why diverse leadership matters more than ever (Associations Now)
- COVID-19 has pressed associations to build boards with people who are flexible and eager to lead, and who bring new perspectives to the table. Diversity initiatives offer a path to get there.
- Uncharted territory: The coronavirus pandemic presents new and complex challenges to nonprofits (Accounting Today)
- Operating a nonprofit is not easy. Fundraising issues, limited staffing, and lack of resources are just a few of the challenges that have long plagued the sector. Now, throw into the mix the COVID-19 global pandemic, leaving in its wake alarming devastation and uncertainty. Given this, today’s nonprofits are facing a perfect storm of epic proportions, and the role accountants can play in helping them navigate the turbulence has perhaps never been more important.
- Survey Says: COVID-19 and the Impact on Mid-Sized Nonprofits (501(C) Services)
- It’s clear that in the wake of this pandemic nonprofit organizations have been needed more than ever. Nonprofits around the nation are helping people with daycare, food services (which is in higher demand due to all the layoffs across the country), mental health, and much more.
- Nonprofit Tweets of the Week – 6/19/20 (Nonprofit Law Blog)
- Stay informed of the week’s notable events and shared resources with this curated list of Nonprofit Tweets of the Week.
- NYN First Read Newsletter: Today's Buzz (NYN Media)
- New York state’s ongoing budget crisis has put thousands of nonprofits in limbo as state agencies have delayed payments and stopped approving new contracts, the Times Union reports.