If your Center for Independent Living receives a direct grant from Health and Human Services through the Administration on Community Living, then someone in your organization draws down funds to be directly deposited in your CIL’s bank account. This process
Simplifying your record-keeping would be a good New Year’s resolution!
Happy New Year! How many expense accounts should I have per department? And if we simplify our chart of accounts to make recordkeeping easier, will that make our books inconsistent? There is no right answer to how many accounts you
We selected the 10% indirect rate…
Question: What expenses can we directly charge to programs? Also, can we charge that de minimus 10% to all direct costs? John Heveron: The 10% indirect cost rate does not apply that to all direct costs. You apply the rate
Exciting News and an Introduction
I am pleased to announce that John Heveron is joining us as an expert contributor to this blog. John has worked with us in providing financial training and technical assistance to CILs and SILCs for a number of years. He
New fiscal director’s questions
As the new finance person for a center, I have some questions that have come up over the past few weeks that I’d appreciate getting your input on. Currently allocations are based on wages paid by the grant that the
Can a center or SILC earn interest on federal funds?
The CILs are allowed to collect interest on federal funds, but if there is interest, the money isn’t being applied to its purpose, so that is discouraged. The expectation is that the money passes through just in time to pay
What should you do when you discover waste, fraud or abuse of funds?
Embezzlement is a very specific type of fraud, and most cases involve taking money from an employer through deceit. Usually the person embezzling is the person who cuts your checks, and often they have developed an elaborate ruse to use
Eight practices to prevent fraud and theft
From time to time you hear about theft within non-profit organizations. Usually the organization did not have sufficient internal controls to prevent or catch the situation, and sometimes the thief gets by with it for years. Here are eight practices
Your IRS Form 990 Questions Answered
by Cassie Strain on March 11, 2019 Reprinted from Blue Avocadohttps://blueavocado.org/finance/your-irs-form-990-questions-answered/ Do you ever have a question about your IRS Form 990 and can’t seem to find the answer? Today we’ll give you some valuable information concerning your filings, written
What are the IRS requirements for my CIL?
Just because your non-profit doesn’t pay federal income tax doesn’t mean you have no dealings with the Internal Revenue Service. You are required to file an annual report to the IRS of your standing as a non-profit. This form is