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Environmental, ESG

Greenhouse Gas Emissions: Defining Scopes 1, 2, and 3

Many organizations are actively working to diminish their greenhouse gas emissions. When tracking and reporting progress, the terms ‘Scopes 1, 2, and 3 emissions’ are frequently used. But what do these designations truly signify? On the journey to achieving net zero emissions, organizations measure and assess their greenhouse gas emissions through three distinct ‘scopes.’ The…

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Key Takeaways from GRF’s Cyber Symposium for Nonprofits & Associations

On December 5, 2023, the first annual GRF Virtual Cyber Symposium for Nonprofits & Associations brought together experts in cybersecurity, privacy, and insurance to share the strategies tax-exempt organizations can implement to identify risks and reduce an organization’s exposure. Topics Covered Included: Creating a culture of innovation in cybersecurity Cybersecurity risks and mitigation strategies The…

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Cybersecurity | Businesses and Individuals, Government Contractors, Nonprofits and Associations, Professional Services

Cybersecurity Checklist: Is your organization secure?

Cybersecurity threats are always changing and hackers are busy finding ways to exploit your assets. Download a PDF copy of our checklist to share with your colleagues, or, take our interactive quiz below to help identify areas where you might be vulnerable. GRF Can Help Effective cybersecurity is a journey, and whether you have a…

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Cybersecurity, Enterprise Risk Management, Internal Audit | International NGOs, Nonprofits and Associations

Fraud Awareness Tips and Resources

International Fraud Awareness Week takes place November 12 – 18, 2023 Fraud Awareness Week highlights how crucial it is for organizations to pause and reflect on the evolving landscape of fraud risks. In an era where the convergence of technology and human ingenuity continues to shape our world, the need for proactive risk management is…

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Nonprofit Tax | Nonprofit

How to Become a Tax-Exempt Organization

By Richard J. Locastro, CPA, JD and Katelyn Miller, CPA, MST The terms “nonprofit” and “tax-exempt organization” are often used interchangeably. And while there may be considerable overlap in their definitions, there is a distinction, especially for a 501(c)(3) public charity or private foundation. As explained further below, the process to become a tax-exempt organization…

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Tax Planning and Preparation | Businesses and Individuals

Social Security Wage Base and Earnings Test Amounts for 2024

The Social Security Administration (SSA) recently announced that the “wage base” for computing Social Security tax will increase for 2024 to $168,600. This is up from $160,200 for 2023. Federal law limits the amount of earnings that are subject to the Old-Age, Survivors, and Disability Insurance (OASDI) tax in a given year. This threshold, referred…

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Enterprise Risk Management, ESG | Nonprofit, Nonprofits and Associations

ESG for Non-Profit Risk Managers

Bottom Line: ESG is becoming more important to donors, employees, partners, and other stakeholders. Non-profit risk managers need to be prepared to answer tough questions about how their organization is managing critical ESG risks. ESG Basics for Non-Profits ESG refers to environmental, social, and governance factors in an organization’s operations. There is no universal definition…

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Cybersecurity, Enterprise Risk Management | Nonprofit, Nonprofits and Associations

Mitigate Online Donation Risks with PCI Compliance and Third-Party Risk Management

Taking donations online is a huge benefit to nonprofit organizations, but online payments also expose potential risks. To safeguard their operations and donors’ financial information, nonprofits must prioritize Payment Card Industry (PCI) compliance and third-party risk management. Nonprofits are at a higher risk of credit card test attacks than other organizations due to certain functionality…

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Cybersecurity, Enterprise Risk Management | General Business, Government Contractors, International NGOs, Nonprofits and Associations, Professional Services

Cybersecurity and Privacy Become Key ESG Imperatives

Cybersecurity and privacy issues have become prominent ESG concerns as organizations frequently manage sensitive information concerning their beneficiaries, employees, third parties, and other stakeholders. Protecting this data from cyber threats and ensuring privacy is a crucial responsibility, as stakeholders expect organizations to have robust cybersecurity measures in place to safeguard their personal information. Failure to…

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Enterprise Risk Management | International NGOs, Nonprofit, Nonprofits and Associations

Risk Management is on the Rise at Not-For-Profit Organizations

2023 State of Risk Oversight Survey Results By Amy Wares, CPA, MBA, Enterprise Risk Management Specialist Managing risk is more challenging than ever. New research reveals that not-for-profit organizations are responding by expanding their risk management practices. On July 11, 2023, the Enterprise Risk Management (ERM) Initiative at NC State University published the 14th edition…

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