January NPFM Meeting: How to Choose a Database

Summary:

Your data is a strategic asset of your organization. Organizing data in a way that is easy to access and provides meaningful information to manage your operations is critical to your success. Join us to examine how to choose a database management system. We’ll provide a framework for choosing an effective database for your organization covering how to:

• Map your existing processes
• Review processes for potential improvements
• Gather needs requirements (Start with the end in mind)
• Prioritize needs and set timelines
• Craft and distribute Request for Proposal
• Define internal ownership and governance
• Manage vendor selection and implementation
• Establish procedures for ongoing use and maintenance of the system

Presenters: 
Russell Greenwald, Vice President, Insource Services

As Vice President, Russell brings his substantial expertise in leading projects and process management to managing Insource’s operations and addressing client needs.
Utilizing his project management skills, Russell works as part of the executive team to co-lead the delivery of Insource’s professional services to clients. He is jointly responsible for the overall management of client success, Insource’s consulting services and business development. Russell has a proven track record in all areas of Insource’s key services, most notably within the development of strategic business and staffing goals, as well as developing and implementing multi-year technology plans.

Learning to Love (or at Least Live With) Restricted Revenue

Who knew that accounting standard changes could be the source of cutting-edge strategies for fundraising? This session explores how the latest changes in accounting standards for revenue recognition can be used to develop more effective grant proposal narratives and budgets. Whether you are a CEO, development professional, CFO, board member, or accountant, this presentation provided the audience with an understanding of new standards on revenue recognition and restricted revenue. Participants will look at examples of how to use those concepts to craft grant proposals that bring in the most flexible funding possible.

Learning to Love (or at Least Live with) Restricted Revenue

Who knew that accounting standard changes could be the source of cutting-edge strategies for fundraising? This session explores how the latest changes in accounting standards for revenue recognition can be used to develop more effective grant proposal narratives and budgets. Whether you are a CEO, development professional, CFO, board member, or accountant, this presentation will provide you with an understanding of new standards on revenue recognition and restricted revenue. Participants will look at examples of how to use those concepts to craft grant proposals that bring in the most flexible funding possible.

Presenters:

Tim Warren has over 17 years of experience providing CFO, auditing, accounting, consulting, and tax services to nonprofit organizations including higher education, housing, social service organizations, membership based-organizations, community-based organizations, foundations and arts/cultural organizations.

Melissa Murphy has over six years of experience auditing, accounting and consulting with an emphasis on nonprofit organizations, including those with Single Audit and Yellow Book compliance requirements. She has worked with many nonprofit organizations including human service organizations, healthcare, community based and associations. Melissa also has a strong background in 990 preparation and compliance.

Presentation: NPFM Meeting 12.5.19 – Learning to Love Restricted Revenue

MA Paid Family and Medical Leave

MA Paid Family and Medical Leave Law will be altering the legal requirements of all employers operating in Massachusetts, including nonprofits. This new law will require all employers to allow employees and covered individuals to, among other things, take up to 20 weeks of paid leave for an employee’s own health conditions and up to 12 weeks of paid leave for a family member’s illness. While the leave entitlements will not take effect until January 1, 2021, new notification requirements and payroll contribution deductions will go into effect by October 1, 2019. This workshop is intended for all nonprofits that have or are planning to hire employees and covered individuals that want to know more about this new legal requirement.

Presenters: Cathy Reuben and Kathleen Berney, attorneys with Hirsch Roberts Weinstein

Agenda:

  • What is the Paid Family and Medical Leave Law?
  • How will this affect nonprofit employers and employees?
  • What does my nonprofit have to do prior to July 1, 2019?
  • How can a nonprofit prepare for these changes?
  • Do employees have any requirements?
  • Who is considered a covered individual?
  • Who is considered a family member?
  • What is the payment schedule and how much does the employer need to pay during the leave?
  • What is considered a serious medical need?
  • What happens if I don’t comply with the new law?

Materials: Insource Services How to Choose a Database

September Meeting: Best In Class Decision Making

Meeting summary:

This session focused on good decision making, which includes not only the quality of the decision that is made, but also the process for getting to that decision.  We were introduced to what research has shown to be “best in class” decision-making behaviors, and provided a framework that helps clarify decision roles.

We were asked to think about the following prior to the meeting:

  • Think about a significant decision that you were recently a part of, that you feel didn’t go as well as it could have
  • Why didn’t the decision go well? Think about what went wrong:
    • In the way the decision-making process was set up
    • In the way the decision was made
    • In the communication and follow through of the decision

In the session, we mapped the challenges against the best in class behaviors, and brainstormed opportunities to improve with a colleague from another organization.

Presenter:

Leading this discussion will be Bob Searle is a partner in Bridgespan’s Leadership practice.  He originally joined Bridgespan in 2000 and served in a number of roles over 13 years at the organization, including lead for Bridgespan’s Environment practice.  His consulting work has focused on strategic and organizational growth for nonprofits and foundations across a spectrum of social issues.

Prior to his return to Bridgespan in 2016, Bob was at New Profit, Inc., a venture philanthropy fund based in Boston, as Managing Partner for Portfolio Performance & Support.  In that role, he focused on strengthening New Profit’s portfolio support tools and processes, including its internal measurement capabilities.

Meeting materials: Decision effectiveness NPFM

June NPFM Meeting: Changes to Revenue Recognition

Over the past several years, the Financial Accounting Standards Board (FASB) has issued multiple landmark accounting standards impacting not-for-profit entities, including the following revenue recognition standards:

  • ASC 606, Revenue from Contracts with Customers (Topic 606) (originally issued as ASU 2014-09)
  • ASU 2018-08, Not-for-Profit Entities (Topic 958), Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made

ASC 606 provides a new framework for revenue recognition for both for-profit and not-for-profits entities. However, not-for-profit entities will need to assess their revenue streams to determine whether their revenue from grants, contracts, and contributions is qualified as an exchange transaction, or whether the revenue is a non-exchange transaction and therefore outside of the scope of ASC 606.  ASU 2018-08 clarifies the determination of  such transactions.  During this interactive session, participants will discuss how to evaluate their revenue streams in accordance with the standards, with consideration given to how these standards will impact their revenue recognition policies and financial statement disclosures.

Presenters from CliftonLarsonAllen, LLC:

  • Jennifer Olivier, CPA:  Jen has over 12 years of experience providing auditing, accounting, consulting, and tax services to nonprofit organizations including, healthcare, social service organizations, associations, health and human services, and foundations. Jen also has extensive experience in single audit and yellow book compliance.
  • Melissa Murphy, CPA: Melissa has over four years of experience auditing, accounting and consulting with an emphasis on nonprofit organizations, including those with Single Audit and Yellow Book compliance requirements. She has worked with many nonprofit organizations including human service organizations, healthcare, community based and associations. Melissa also has a strong background in 990 preparation and compliance.