Publications

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Publication | Audit and Assurance | Nonprofits and Associations

Common Management Letter Findings for Non-profit Organizations & Audit Preparations

For the fifth topic of the six part series GRF audit partners Jennifer Arminger and Robert Albrecht focused on the most common management letter findings for non-profit organizations that result from an annual financial statement audit and how to properly prepare for an audit, to minimize the risk of findings.  They focused on the issues…

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Publication | Tax Planning and Preparation | Nonprofits and Associations

IRS Form 990 Reporting Issues

In our fourth topic of the six part series, GRF audit partner Jennifer Arminger and tax partner Richard J. Locastro will discuss the most common IRS Form 990 Reporting issues such as the public support test, UBIT, transparency of information, compensation, and more.  Understanding and combatting these common issues helps make the Form 990 an…

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Publication | Advisory, Audit and Assurance, Compliance | Nonprofits and Associations

Allocation of Functional Expenses and Overhead/Indirect Rates

In this second topic of a six part series, GRF audit partners Jennifer Arminger and Robert Albrecht will explore the commonly challenging topic of allocating expenses across various operations, including different methodologies and best practice recommendations. Additionally, we will dive into the topic of overhead allocations and how to accurately track and report overhead to…

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Publication | Audit and Assurance | Nonprofits and Associations

Financial Policies and Procedures (Best Practices)

GRF audit partners Jennifer Arminger and Robert Albrecht presented the third topic in a six part series about non-profit industry best practices for financial policies and procedures.  The seminar focused on common questions surrounding financial policies and procedures in both federally and non-federally funded organizations. The seminar provided guidance on certain required regulations under the new Uniform Guidance…

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Publication | Advisory, Audit and Assurance, Compliance | Nonprofits and Associations

Understanding Financial Ratios, Analyzing Unrestricted Net Assets and Setting a Proper Reserve

GRF audit partners Jennifer Arminger and Robert Albrecht presented this opening topic in a six part series, focused on how to properly read financial statements of a non-profit organization including an in-depth look at unrestricted activities and net assets and how to set a proper reserve. Additionally, they took a look at several key financial ratios,…

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Publication | Nonprofits and Associations

New Year’s Resolutions for Your Nonprofit Finances

Tax Partner Dick Locastro provides updates, considerations, and the timeline and coordination for preparation of your form 990 once your audit is scheduled. Audit Partner Trevor Williams provides tips on preparation, auditor-auditee relationship, and accountability during your annual audit.


Publication | Nonprofits and Associations

CyberSecurity: Taking a Proactive Approach

Senior Manager and Certified Information Technology Professional Ricardo Trujillo presented best practice tips for how to strengthen cybersecurity and minimize cyber threats. Key topics explored in this presentation include: Framework of cybersecurity objectives Confidentiality Control methods Security architecture How to manage security incidents Adaptations to evolving technologies


Publication | Audit and Assurance | Nonprofits and Associations

Secrets to Finding a Great Auditor

Selecting a potential candidate to conduct your upcoming audit can be a difficult decision due to their close relationship with you and your finances during the audit process. Audit Partner Trevor Williams provides insight into interviews with, and the selection and relationship with your auditor. Key topics include: Requirements of your auditor Where to find…

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Publication | Audit and Assurance | Nonprofits and Associations

Maximizing the Audit Experience

Nonprofit organizations that are prepared ahead of time for an audit avoid turning the audit into an arduous process and instead gain insight and tips on how to achieve their financial goals and meet donor expectations. This presentation, designed by Walter Derengowski of Gelman Rosenberg & Freedman and Alan Lesher of The YMCA of Inland…

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Publication | Nonprofits and Associations

How to Strengthen Your Nonprofit’s Internal Controls

Governance of internal controls is fundamental to the integrity of an organization’s operations. Audit Partner Trevor Williams discusses management of internal controls for nonprofits. Key topics include: Evaluation of internal controls Responsibilities of the levels of authority Integration and communication of adjustments This presentation also includes nine tips on segregation of duties among the people…

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Publication, Special Publication | Advisory, Tax Planning and Preparation | Businesses and Individuals

Congratulations, You Are Now a Law Firm Partner! What about Your New Tax Forms?

The following applies to partners in the local pre-jurisdictions of DC, Maryland and Virginia. When you first become a law firm partner, your federal taxes become very difficult and you can find them daunting. Prior to your partnership, your taxes probably revolved around a W-2 and tax return preparation was rather straight forward. As soon…

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