Don’t let disaster fraud victimize your nonprofit
It’s been a busy year for natural disasters, with Hurricane Ian only the latest calamity to befall the United States and its territories. If your not-for-profit operates in or serves clients in a disaster zone, you know how difficult the recovery process can be. Unfortunately, fraud perpetrators attempting to profit off the misery of others […]
How Auditors use Benford’s Law to Detect Fraud, Data Manipulation, Processing Inefficiencies, and Other Errors
An interesting tool called Benford’s Law can be effective in detecting fraud. But it also can be used during external auditing procedures to test journal entries for unusual numeric patterns. Here’s what you should know about this statistical technique, including its potential limitations. Random data sets According to Benford’s Law, in sets of random data, […]
How your nonprofit can break bad budget habits
Autumn is here and many not-for-profits are starting to think about their 2023 budgets. If your budget process is on autopilot, you might want to pause and think about changing things up this year—particularly if you’ve experienced recent shortfalls or found your budget to be less resilient than is ideal. Here’s how to rethink budgeting. A holistic […]
Employee Spotlight with Karin Frantz
When did you join Waters|Ortiz? July 2021 Why did you choose Waters|Ortiz? Roxanne and Amanda are intelligent, warm, friendly, and strong women! They know how to put together a great team and create a positive work environment, and I cherish the thought of helping nonprofits. What do you love most about your job/profession? Helping people […]
How to share your nonprofit’s values and limit fraud losses
Every two years, the Association of Certified Fraud Examiners releases its Report to the Nations, an occupational fraud study of for-profit, not-for-profit, and government organizations. As in previous editions, the 2022 study reports that most organizations require employees to read and sign a code of ethics or conduct. This relatively simple control can result in […]
Promoting your nonprofit with your annual report
Do you think about your not-for-profit’s annual report as a yearly obligation or even an unpleasant chore? If so, your annual report likely isn’t much fun to read — and you’re missing a chance to attract and engage critical audiences. Instead, embrace this opportunity to communicate the good your organization does and promote your mission […]
Election season is here! Watch your nonprofit’s activities
Many states have already held primary elections, and the airwaves are clogged with candidate ads. Yes, the November “mid-terms” election season has begun! So now is a good time to review political activity restrictions that affect Section 501(c)(3) organizations. What activities are forbidden? In general, tax-exempt organizations aren’t allowed to act directly or indirectly in […]
Take your audit to the next level – utilize advice from your management letter
Maintaining the status quo in today’s volatile marketplace can be risky. To succeed, businesses need to “level up” by being proactive and adaptable. But some managers may be unsure where to start or they’re simply out of new ideas. Fortunately, when audited financial statements are delivered, they’re accompanied by a management letter that suggests ways […]
Is your nonprofit paying enough attention to Generation Z?
A new generation is spearheading social movements, volunteering for causes, and making charitable donations. If your organization isn’t paying attention to Generation Z — the youngest cohort of adults — you may miss out on its energy and support. This demographic is particularly motivated by social justice issues and is financially generous. Here’s how to […]
Dangerous donations: Should your nonprofit risk bad publicity?
No not-for-profit wants to turn down donations — particularly if they’re large. Nevertheless, you need to consider the source of gifts and potentially refuse those attached to controversial donors. Bad publicity, particularly if it hits social media and goes viral, can be far more expensive for your organization in the long run. A look at […]
