The missions not-for-profits (NFPs) follow do not make them immune to the business difficulties faced in other sectors.
Complexity, regulation, globalization, and economic trends all are creating challenges for NFPs, their leaders, and the CPAs who work with them. New accounting standards for NFPs are under development, and NFPs face new demands for transparency as the economy and donors recover from the financial crisis.
Here are six developments discussed Thursday at the AICPA Not-for-Profit Industry Conference in Washington:
- FASB proposal coming.
- Policies on gifts, ethics needed.
- Young donors want information.
- Quarterly earnings call experiment.
- Middle class a concern.
- Starvation cycle.
Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.