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Marvin and Company's longest-tenured employee, Dorothy G. Monell passed away peacefully on January 22, 2019. We also mourn the loss of Arthur A. Bianchi who passed away on January 24, 2019. He joined the firm in 1949, became a director in 1957 and retired in 1975. We thank them for their many years of service and send our deepest condolences to their families.
Behind the scenes at every nonprofit are the financial activities and decisions that enable the organization to carry out its mission. Most nonprofits have growth strategies in place for the current fiscal year, but it’s not as common to reflect on long-term sustainability. This article provides 6 best practices that help nonprofits stay on target for achieving sustainable growth.
Marvin and Company, P.C., an award-winning Capital Region accounting, auditing, taxation and management consulting firm, is pleased to announce the expansion of its exemplary staff with the addition of two new team members, five new tax interns, and several staff promotions.
Behind the scenes at every nonprofit are the financial activities and decisions that enable the organization to carry out its mission. While most nonprofits have growth strategies in place for the current fiscal year, it’s not as common to reflect on long-term sustainability. In fact, a survey of 1,100 respondents by Concord Leadership Group revealed a significant gap between top-performing nonprofits and the remaining organizations.
While there are myriad reasons behind a nonprofit’s viability, it is important to develop a business model that is grounded in smart finances
This article provides 6 best practices that help nonprofits stay on target for achieving sustainable growth.
Changes in the 2017 tax reform law call for nonprofits to reconsider their donor strategies to account for fewer taxpayers using the charitable deduction. There are several strategies your nonprofit can employ to offset the uncertainty about how charitable contributions may be impacted.
The Tax Cuts and Jobs Act (TCJA) raised the standard deduction and capped certain other tax preferences. As a result, the Joint Committee on Taxation estimates that the number of filers who itemize will drop from approximately 30 percent to 13 percent. Fewer itemizers means fewer people can claim the charitable deduction on their tax return.
This article explains why certain new strategies may be worth consideration.
Technology has made it easier than ever for nonprofits to review large volumes of data. With the right tools and procedures in place, your nonprofit can use that data to evaluate your organization’s performance and best demonstrate its value to donors.
To measure your nonprofit’s performance effectively, you’ll need a plan that outlines the appropriate metrics, the right data to collect and a schedule to evaluate the results.
This article explains that the right performance metrics can help keep your nonprofit on track.
Alleviating homelessness. Providing healthcare. Advancing educational and economic opportunities.
While nonprofit organizations may have a social purpose, they are, by definition, businesses that need to focus on profitability to further their mission. Like their for-profit brethren, they must have sound governance and financial practices, including a way to measure outcomes and return on investment (ROI), that can support their growth and help them maximize funding, mitigate risks and better serve their constituents. Without strategic operational investments, nonprofits risk failing to build up the foundation they need for sustainable success.
You may hate to have to do it, but assessing finance charges for late payments may improve your overall cash flow.
There are a myriad of ways to bring in customer payments faster and improve your cash flow. You can:
QuickBooks can help you take all of these steps. It also offers a fifth option: assess finance charges for tardy remittances.
Maybe you don’t want to do this because it seems like a less-than-friendly way to treat customers – especially valued ones. But you’re not in the business of lending money, which is what you’re doing when you continue to let your accounts receivable slide. This articles explains how to add finance charges to your payment policies.
‘Tis the season for making resolutions and setting goals. Try exploring these three areas to dig deeper into QuickBooks Online.
By now, many New Year’s resolutions have already been made – and broken. Though they’re usually created with the best of intentions, they’re often just too ambitious to be realistic.
For example, you might decide to learn more about QuickBooks Online and keep up with your accounting chores more conscientiously in 2019. That’s hard to quantify. How will you know if you achieved that goal?
Instead, why not pick three (or more) specific areas and focus on them this month? We’ll get the ball rolling for you by making some suggestions.
Happy Holidays! Check out our holiday video card.
- Your Friends at Marvin and Company, P.C.