Fraud is uncomfortable to talk about especially in the nonprofit world. Missions are noble, staff are passionate, and trust runs deep. Unfortunately, that same culture of trust is often what makes nonprofits vulnerable. In the audit world, we say: "Trust, but verify."The reality is that nonprofits of all sizes are...
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A social enterprise is an organization (or a venture within an organization) that advances a social mission through earned income.For nonprofits, launching a social enterprise can be an exciting way to expand impact and financial sustainability — but it’s not a step to take lightly. A well-designed social enterprise can...
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We often receive calls from nonprofit organizations preparing for their first financial statement audit—and the motivations vary:“We just hit $500,000 in revenue.”“Our board thinks it’s a best practice.”“We’re applying for bigger grants.”Or sometimes: “We’ve had a fraud incident and need help understanding what happened.”All understandable reasons, but let’s clear up...
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