Improving Disclosures about Fair Value Measurements

Improvements to the disclosure requirements related to Fair Value Measurements and Disclosures (Topic 820) were completed after receiving input from users of financial statements. These amendments will be effective for years beginning after December 15^th, 2009 (2010 for calendar year entities), with the exception of the disclosures regarding purchases, sales, issuances, and settlements in the roll forward of activity of fair value measurements for Level 3, which will be effective for fiscal years commencing after December 15^th, 2010 (2011 for calendar year entities). Continue reading »

Number of Volunteers Soars: Hours Remain Flat

A recent report from the Corporation for National and Community Service (CNCS) stated that throughout 2009, 63.4 million Americans aged 16 and older volunteered 8.1 billion total hours. From the previous year, the number of volunteers increased by almost 1.6 million people, which is recorded as the largest single-year increase since 2003. Although the number of volunteers grew significantly, the overall number of hours spent volunteering remained relatively flat in comparison to 2008. Continue reading »

Form 990 Seminar

We are pleased to inform you of an upcoming seminar I will be speaking at. I think this program will be of particular interest to all of you and I would like to personally invite you to attend.

Form 990
July 22, 2010
Timonium, MD
Crowne Plaza Baltimore North, 2004 Greenspring Drive

http://www.lorman.com/seminars/seminar_details.php?sku=367699

Register online: http://www.lorman.com/
Call: 866-352-9539

Priority code: 15000

This event will be a great opportunity to network with other professionals in your area. I look forward to seeing you there and will be prepared to answer your questions and provide you the latest information on this topic.

Giving Drops Less Than Expected; Charities brought in $303.75 billion for 2009

Throughout 2009, giving to charity in the United States fell $303.75 billion, which is about a 3 percent decline from the prior year. Although a decline occurred, it was not a steep drop that was anticipated by nonprofits in light of the recession.  Continue reading »

IRS Interim Report on Compliance in the Non-profit Sector

The Internal Revenue Service released an interim report on May 7, 2010, summarizing responses to compliance questionnaires sent to 400 public and private colleges and universities in 2008. Colleges and universities make up one of the largest nonprofit segments in terms of revenue and assets as well as the most complex organizations in the tax-exempt sector. The goal of the questionnaire is to ultimately help the IRS with enforcement and service efforts for exempt organization. Areas of focus are: unrelated business activities and tax, consolidations and controlling entities, and executive compensation. Continue reading »

Moving Your Message Contest!

► CONTEST!  ANY nonprofit in Greater Washington can participate in Burness Communications’ Moving Your Message contest.

$1,000 cash awards will be given to three nonprofits for stories about impact in the media – or through social media – or how the Roundtable has helped leverage your communications.  Board Members, staff, donors can submit ideas – - as many as you wish – - it’s just 100 words; deadline is 5pm on June 18.

 Quick & Easy Submission Form 

General Info and rules

A list of Frequently Asked Questions (where you can also submit other questions)

A list of the first submissions

Contest Sponsored by Burness Communications

Fraud at Valley Forge Visitors Bureau

The former finance director of the Valley Forge Convention and Visitors Bureau is under arrest, accused of embezzling more than $775,000 over an eight-year period.

William Barnes worked at the bureau for 13 years, and prosecutors say he was siphoning money from the bureau’s checking account. He allegedly wrote 300 unauthorized checks to himself, using the money to pay child and spousal support and college tuition.

Barnes, of Norristown, turned himself in to face arraignment on charges that include theft by deception, theft by unlawful taking, and forgery.

Between January 1996 and February 2009, Barnes wrote checks to himself, then altered electronic and other records to cover up the thefts, the prosecutor’s office said.

After Barnes retired, an audit discovered that facts and funds didn’t add up.

The bureau is putting more stringent guidelines in place, and CVB President Paul Decker said it remains financially sound.

Resources: http://www.hotel-online.com/News/PR2010_2nd/May10_ValleyForgeCVB.html

http://www.meetingsfocus.com/NewsEvents/IndustryNews/IndustryNewsDetails/tabid/138/ArticleID/14004/Default.aspx?utm_source=MagnetMail&utm_medium=eNewsletters&utm_term=crs@aronsoncompany.com&utm_content=Meetings%20East%2006-03-10&utm_campaign=Ex-Valley%20Forge%20Finance%20Chief%20Arrested