Financial Accounting Standards Board (FASB) issued several pronouncements affecting not-for-profit entities in the late 1990s. While compliance generates additional work, the reports can be valuable resources for decision making, tools for strategic planning, and benchmarks for the success of fundraising through capital campaigns and grants.

Here are just a few of the ways the procedures can work to your organization's advantage:
  • The reports can help the executive director and CFO advise the management committee how best to use personal assets donated by contributors.
  • Because the FASB requires several reporting procedures, you'll generate more accurate and meaningful statements.
  • The information can be used to manage day-to-day functions, track fundraising activities, and help with long-term planning. Also, major contributors can learn how gifts are used, what percentage of a donation goes to support a program and where the most urgent financial needs exist.

Contact our firm to learn how FASB reporting can be an invaluable tool to help plan program expansions, bolster financial security, and ensure funding of your mission.

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