Discover expert insights on ASC 842 compliance for nonprofits, healthcare, and higher education. Learn best practices and lessons from Temple Management Consulting's experience.

As we approach 2025, nonprofit organizations are navigating an evolving landscape of audit requirements and best practices. Effective nonprofit audit preparation remains crucial for ensuring compliance, enhancing transparency, and maintaining stakeholder trust. In this comprehensive guide, we'll explore key aspects of preparing for your 2025 nonprofit audit, including lessons learned from recently implemented standards, emerging best practices, and strategies to navigate common challenges.

In 1993, FASB introduced SFAS 116 and 117. These standards revolutionized nonprofit financial reporting. They established guidelines for contribution recognition and financial statement presentation. For over two decades, these standards served as the backbone of nonprofit accounting. SFAS 116 focused on accounting for contributions received and made. It provided clear guidance on how to recognize […]

Recruiting and managing volunteers effectively is essential for running successful educational programs. To attract volunteers, churches can utilize a variety of strategies, such as reaching out to current congregants, promoting opportunities through social media, and hosting informational sessions that highlight the impact of volunteer work.

Unlock the power of nonprofit financial forecasting with Temple Management Consulting. Gain insights and strategies for sustainable decision-making, risk mitigation, growth planning, and enhanced financial health. Learn how to navigate the complexities of data collection, assumptions, forecasting methods, and the importance of feedback. Chart your organization's secure financial future today.

As the back-to-school season approaches, churches have a unique opportunity to positively impact their communities by aligning their financial resources with educational initiatives. This article aims to highlight the importance of strategic financial planning for church leaders, emphasizing how such efforts can support educational programs that benefit students and families in need.