Do you dread meeting with your auditor or accounting professional? Sometimes it might feel like foundation staff and CPAs speak different languages. We’ve taken the language gap out of the equation in this webinar to bring you a simplified look at accounting. Join three accounting experts for a non-technical look at some of the most basic but important accounting concepts such as donor restrictions, agency funds, and split interest agreements. Leave with an understanding of these concepts and how they affect your community foundation.
The GIFT Snapshot Reports are compilation of data from all 94 Indiana community foundations entered into the CF Insights database.
One of the key responsibilities that finance staff must undertake is the filing of necessary state and federal forms. This webinar will cover IRS Form 990 and 990T, solicitation and gaming licenses, UBIT (unrelated business tax), annual state filings. You will also learn how the latest federal tax reform will affect filing as well as the new taxes being implemented on foundations.
This material is only available to members. Please contact a member of the GIFT staff to get Boot Camp or Community Foundation Basics materials.
If you’re looking to hire an investment manager, this webinar will walk you through the process, including: developing and releasing a request for proposal; searching firms; and, presenting the results to your board. If you already have an investment manager, we will also discuss ways to properly evaluate and decide if and when to find someone else for the job.
https://www.michiganfoundations.org/sites/default/files/resources/FASBwebinar7-19.pdfThis webinar will walk you through the upload accounting guidelines issues by the Financial Accounting Standards Board that are set to go into effect after December 15, 2017. Learn the key elements and how these changes will affect your foundation’s reporting practices, as well as changes expected in the review of grantee statements.
Since 1973, the Financial Accounting Standards Board (FASB) has been the designated organization in the private sector for establishing standards of financial accounting that govern the preparation of financial reports by nongovernmental entities. Those standards are officially recognized as authoritative by the Securities and Exchange Commission (SEC). There are many conflicts with the legal interpretation of community foundation funds and FASB reporting. This webinar is designed to assist executive directors, board members, finance staff and finance committee members in understanding the reporting requirements and their reporting options.
A local service organization comes to you and would like to collaborate on a much needed community project. A group of concerned citizens decides an animal shelter is needed. A dedicated person wants to raise money to pay them to deliver services to seniors your community. They all want to set up a pass-through fund with to handle charitable contributions. We’ve all been there. When should you do this? What are the legal responsibilities for the community foundation when these types of funds are established? How do you handle the financial side? This webinar includes: guidelines for assessing when to engage in this type of activity; understanding community projects vs. fiscal sponsorship vs. fiscal agency; and sample fiscal sponsorship agreements and reporting requirements.
Educating donors about the benefits of charitable IRA rollovers is a great way to uncover future planned giving prospects.
Designed especially for community foundation finance staff, join your fellow finance minds in an under-the-hood look at essentials in finance for community foundations.