Featured Articles

Robin Slater
Nov 28, 2022

Fiduciary obligations require charitable non-profit organizations to adhere to the highest ethical and legal standards. In every decision made and action taken, a charitable non-profit must:

  • Act in good faith
  • Place the best interests of the organization and its beneficiaries first
  • Exercise the care a prudent person in a like position under similar circumstances would use

In pursuit of these objectives, a charitable non-profit organization’s board of directors is subject to a multitude of federal and state regulations.

Giorgi Datashvili
Nov 14, 2022

Contributed services are professional services that have been donated by someone outside of your organization with specialized skills — such as those provided by doctors, nurses, lawyers or accountants. They have a real monetary value, but you must handle them differently compared to donated goods when recording them in your accounting system and acknowledging your donors.

According to Generally Accepted Accounting Principles (GAAP), services provided by a nonaffiliate are recognized and recorded at fair value if each of the following criteria are met:

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