The reality for most nonprofit agencies today is an increasing demand for services as funding shrinks and costs escalate. In this environment of constant change, organizations need a plan to help them manage. In most cases, this plan takes the...
If you are like most nonprofit agencies today, you are finding it more difficult to make ends meet. In this environment of scarce resources, one of the most important tools at your disposal is the budget. In the publication Cost...
If you are like most nonprofit agencies today, you are finding it is more and more difficult to make ends meet. You have probably experienced funding cutbacks that have forced you to reconsider your activities and do things differently. In...
Audits are seldom a pleasant experience. Organizations are no different than most individuals in Canada — given a choice, we would rather not be audited. Nonetheless, random, compliance and forensic audits by regulators are an integral part of public accountability...
"Accountability" has become an important watchword in fundraising. The need for it has always been a legal requirement in fundraising, but what it meant and the public’s awareness of it have developed in recent years. Our next few columns will...
Often formed as a support for the volunteer treasurer and the paid accounting/finance staff, a Finance Committee usually has a key role in establishing annual budgets, and in monitoring performance against the budget periodically - monthly or quarterly - during...
The single most important current investment issue for Canadian foundations is the need to increase investment returns. This need for enhanced investment performance reflects a change in our Canadian charitable environment and investment environments. As governments struggle to control their...
MOST FRAUD investigators would agree that the elements required for fraud to occur are motivation on the part of the perpetrator combined with opportunity. Opportunity generally arises through an organization's non-existent or ineffective internal controls. The more checks and balances...
Although it's generally unsubstantiated, we probably hear or read about fraudulent activity, on average, at least weekly. The headlines confirm that fraud - lying, cheating and stealing for financial gain - does occur in NPOs and, in some instances, may...
Most Ontario charities are aware - or should be - that they should address the potential for liability arising when their board of directors continues to delegate investment decision making to a discretionary investment fund manager. While a court might...
