By Allen Norvell, CPA, MBA, Director at Blue & Co. While certainly not a new risk for not-for-profit (NFP) organizations, cybersecurity risk is increasing in profile as an area of interest among members of governance. NFPs manage a significant volume of customer and donor data. We have previously provided thought leadership to help NFPs identify […]
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By Nancy Orben, CPA, Senior Manager, Laura Philpot, Senior Accountant, Business Services, and Lisa Totten, Senior Accounting Specialist at Blue & Co. Attention all not-for-profit organizations! Are you currently using QuickBooks Point of Sale in your gift shops, ticket sales, or day-to-day business? If so, you may have heard the recent news that Intuit will […]
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Trusted Insights from The National Bank of Indianapolis Nonprofit Services Team Not-for-profit organizations are increasingly falling victim to fraud, with a rising number of incidents and an ever-growing amount of money being lost. Fraudsters find it easy to target not-for-profits, as their publicly available 990s provide valuable information. Protecting your organization from such fraudulent activities […]
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By: Mike Gricius, Senior Manager at Blue & Co. While not-for-profits rely heavily on grants and donations to fund their charitable missions, they can also explore other funding options, such as Program-Related Investments (PRIs). PRIs offer a unique opportunity for not-for-profit entities to invest in a way that generates both social impact and financial returns. […]
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By: Kandy Wischmeier, CPA, Tax Manager at Blue & Co. If your not-for-profit organization is located in Indiana and has had a significant change in the use of property, has moved in the last year, or is a new entity, you may be required to file Form 136, Application for Property Tax Exemption. Entities are […]
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By: Rick Shields, Principal, CPA, CFE Effective January 1, 2023, Kentucky implemented numerous changes to its sales tax laws. Historically, not-for-profits have been able to take advantage of numerous Kentucky sales tax exemptions. In practice, that has allowed not-for-profits to operate as though sales tax does not apply to their operations. Kentucky has been expanding […]
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By: Ryan Adams, Manager, CPA The process of creating not-for-profit (NFP) budgets can be overwhelming. One can argue that the NFP’s budget can be even more challenging to prepare than a budget for a business enterprise. The NFP may provide goods and services in addition to receiving donations with or without restrictions or conditions, government […]
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By: Holly Fields, CPA, Senior Manager Not-for-profit organizations (NFPs) that receive federal financial assistance over certain levels, either directly from a federal agency or indirectly through state or local agencies, may be required to have a single audit performed under Federal Uniform Guidance. Single Audit Requirements A single audit includes not only an audit of […]
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By: Andrew Brock, CPA, Senior Manager Diversification through crypto assets, including cryptocurrency or other digital assets, in an organization’s investment portfolio, has become a more prevalent conversation, especially over the past couple of years, in light of some of the performance in these types of investments. It is a conversation that has organizations wondering if […]
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By: Rick Shields, CPA, CFE, Principal Few people outside the nonprofit accounting world have an appreciation for its complexities, and how they apply regardless of the amount. A person may say, “The organization has total revenues of $3 million, how difficult could it be?” Those who work in the field on a daily basis are […]
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In the past several years, hospitals have continued to feel the impact on revenue from Clinical Validation Denials (CVD). The need for a robust CDI team to capture support for clinical indicators while the patient is still in house is more imperative than ever. The other overwhelming piece for revenue cycle teams to manage is […]
Ensuring the long-term financial viability of a health system requires constant attention to the operating statement. This involves assessing the current state of your healthcare organization and critically comparing the current condition to industry and/or internal benchmark standards. Ultimately, this assessment assists management implement an ongoing margin improvement process to increase the likelihood of achieving […]
CARMEL, Ind. (May 3, 2023) – Blue & Co., LLC is honored to be named among the Best Places to Work in Kentucky by the Kentucky Chamber of Commerce, the Kentucky Society for Human Resource Management (KYSHRM) and ClearPath Mutual Insurance Company. This is the 12th year Blue & Co. has made the list as […]
