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Best Practices in Managing Your Nonprofit Operating Budget

Accurate budgeting is critically important to the success of any business, and especially important for nonprofit organizations that may have stretched resources, fluctuating funding, and/or heavy reliance on specific funders.  The operating budget is a key tool in effectively and efficiently achieving the organization’s stated purpose, and should align with your organization’s strategic plan. A well-formulated operating budget allows for best use of limited nonprofit resources and sets the course... continue reading

AAFCPAs releases 8-part educational podcast series, designed to help nonprofits thrive

AAFCPAs releases 8-part educational podcast series, designed to help nonprofits thrive

AAFCPAs is excited to announce the release of our 8-part educational podcast series offering actionable takeaways for organizations to improve efficiency, effectiveness and performance controls. This collection of podcasts is the 2nd series of recordings from AAFCPAs’ Annual Nonprofit Educational Seminar. These podcasts, and accompanying introductory videos, feature full audio of thought-provoking sessions recorded on May 3rd, 2017 in front of a live audience of 300+ nonprofit executives and board members.  Several... continue reading

Podcast: Rethinking Your Budget

Listen to Podcast Click here to listen to podcast or use the above media player. Sustainability is a clear concern for funding sources today, and if you cannot document your organization’s sustainability, you are most likely losing out on funding.  AAFCPAs advises nonprofits to broaden the scope of their financial planning process to address the challenges of the current economic and funding landscape, and to ensure sustainability in the long-term. AAFCPAs... continue reading

How Your Form 990 May Trigger an Audit

AAFCPAs would like to make our clients aware that the IRS is now taking a data-driven approach to reviewing the Form 990, Return of Organization Exempt From Income Tax, to scrutinize governance, accountability and oversight of exempt organizations.   The IRS’s Exempt Organizations (EO) compliance specialists are now using data queries to better focus their examination plans on areas or issues where there may be greater risks of non-compliance. IRS Exempt... continue reading

AAFCPAs’ Jeanie Gorlovsky-Schepp Recognized as Woman to Watch!

AAFCPAs’ Jeanie Gorlovsky-Schepp Recognized as Woman to Watch!

It is with great pleasure and enthusiasm that we announce that Jeanie Gorlovsky-Schepp, Manager, is a recipient of the 2016 Women to Watch Awards, presented by the Massachusetts Society of CPAs in partnership with the AICPA’s Women’s Initiatives Executive Committee.  This prestigious award honors women who have made significant contributions to mentoring other professionals, leadership in workplace improvements, community service, and involvement with their alma mater. “Jeanie started her career... continue reading

Podcast: Regulatory Update: The IRS is Taking a Data Driven Approach to Audits

Listen to Podcast Click here to listen to podcast or use the above media player. Jeanie Gorlovsky-Schepp, Manager, provides insight into how the IRS is now taking a data-driven approach to reviewing the Form 990 to scrutinize governance, accountability and oversight of exempt organizations.   Jeanie identifies the most common IRS Form 990 issues that may trigger an audit, and provides best practice recommendations regarding the Board and management’s responsibilities to... continue reading

2014 Federal Forms 990 Changes Affecting Supporting Organizations

Nonprofit organizations with a December 31, 2014 year-end are now in the process of reviewing their Forms 990 for the upcoming May 15th due date.  In advance of the filing deadline, AAFCPAs would like to advise nonprofits and their Board members of the significant revisions that specifically affect supporting organizations. In 2014, the IRS revised the Federal Form 990 Schedule A, adding two new sections to enhance the reporting for... continue reading

AAF Manager, Jeanie Gorlovsky-Schepp accepted to Women’s Leadership Program

We are excited to announce that Jeanie Gorlovsky-Schepp C.P.A. has been accepted to the Boston Chamber of Commerce 2012-2013 Women’s Leadership Program! The year long program is designed to help participants enhance their leadership skills and become engaged in the area’s civic and business communities. Jeanie was one of 59 selected to participate from a pool of over 100.   In fact she was the only CPA on the list outside... continue reading