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Zinner & Co. is pleased to support Accelerate, an event being held by long-time Zinner client, The Cleveland Leadership Center.

Part 2 of 5
 
In the current social and economic environment not-for-profit organizations face morerisk assessment internal controls for board members risks than ever before. One of the major responsibilities of the Board, as well as management, is to continuously assess the risks facing the Organization, both externally and internally.

Part 1 of a 5 Part Series

Do you ever wonder what challenges Board members are facing and how they are board member involvement and oversightdealing with those challenges? Zinner and Co. plays a key role in helping organizations and their management team to overcome a wide range of obstacles. Our unique position of working with multiple entities allows us to take our experience and apply it to you and your organization.

The nature of charitable giving has changed, and there are four primary reasons for this:

  • Technology has made it not only easier to give to charities, but to know about charities and how efficiently they perform.
  • Changes in the U.S. tax code have created a disincentive for giving, especially for those who gave strictly for purposes of a tax deduction.
  • The rise of Donor Advised Funds (DAF) has made it easier for donors to contribute meaningfully to a cause.
  • Concerns for transparency and organizational efficiency have driven the need for increased disclosure and external oversight.

One of the most difficult aspects of managing a Non-Profit is putting on successful fundraising events. Most fundraisers take months to plan and trying to get sponsors is always a last-minute scramble. 

Chris Valponi, CPA
Audit and Assurance Manager

Q:  I volunteer as a Board member for a mid-sized not-for-profit. At times, I feel that I am just going through the motions of reviewing and approving the balance sheet or the Treasurer’s report during our monthly board meeting. Are there duties that I could take on to be a more effective board member?   
Pat M. – Volunteer board member, Cleveland

Leaving a philanthropic gift to a charitable organization can be a rewarding experience, both for the donor and the designated organization.

Many not-for-profit organizations struggle to find qualified financial leaders for their boards. Often individuals possessing higher-level financial experience are asked to take on multiple roles, begging the question, “can a board member be both the treasurer and the chair of the audit committee”? 

More and more third parties are looking at not-for-profit organizations’ IRS Form 990, so don’t just report; learn how you can use your 990 to tell your organization’s story.

While the logo colors of Zinner & Co. are blue and silver 51 weeks of the year, purple was the weeklong preference from March 21- 26. Purple Day is an annual international celebration to create awareness and support for epilepsy and related seizure disorders. What began as a small initiative in 2008 by a young girl in Nova Scotia is now supported annually on March 26th by people in countries around the world.

“We are thrilled to participate in this annual event. In addition to our deep-rooted spirit of philanthropy, we also work to help others outside the firm learn about and better understand this chronic disorder,” said Partner Sue Krantz, CPA. 

Epilepsy affects about 2.3 million adults and 467,000 children 0-17 years of age in the United States, more than Parkinson's disease, cerebral palsy, multiple sclerosis and muscular dystrophy combined. Of the major chronic medical conditions, epilepsy is among the least understood even though 1 in 3 adults knows someone with the disorder.

“Employees have been very creative with their show of support.
In addition to the office adorned with purple flowers and decorations, many made a donation to wear purple clothing throughout the week; some went as far as having purple nail polish, purple glasses and purple tennis shoes,” Krantz added.

"Our Firm  brought in lunch from California Pizza Kitchen on the day where they donated a portion of their sales back to the Epilepsy Association." The week concluded with a purple-themed basket raffle and purple snacks and treats.