Nonprofit Insights, a Newsletter from HBK Nonprofit Solutions

Welcome to the September 2024 issue of Insights, a newsletter from HBK Nonprofit Solutions designed to help you navigate the financial challenges of operating a nonprofit organization. 

In this issue:

• Fiscal Sponsorships: Are They a Right Choice for Your Program? 
  Fiscal sponsorships offer an expedient method of receiving charitable contributions for a specific project and are an important and useful tool available to the charitable community. Co-National Director of HBK Nonprofit Solutions Kathleen Clayton, CPA, PSA, MBA, explains how fiscal sponsorships work and details different models. 
  
• 501©(4) Organizations: Combining Social Welfare and Political Activities 
  While 501(c)(3) organizations are allowed to engage in limited lobbying activity but no direct political engagement, 501(c)(4) organizations are allowed unlimited lobbying activities and substantial direct political engagement. Senior Manager Ashlynn Reeder, CPA, MST, explains the core features and the rules that govern a 501(c)(4).
• Contributions and Exchange Transactions: Know the Difference for Proper Revenue Recognition
  Improperly recording revenue transactions could result in overstating revenues and expenses, and can cause improper timing of revenue recognition and improper classification of revenues. HBK Manager Hillary Kidd explains. 
  
• Protecting Good Causes: How MSPs Shield Nonprofits
  Vertilocity Principal Justin Krentz, MBA, discusses cybersecurity challenges unique to nonprofits and explains the solutions offered by a managed services provider.
  
• Client Spotlight: Frost Valley YMCA: Camp, Retreat, and Environmental Education Center: A Q&A with Chet Krinsky, Frost Valley CFO
  Since 1885, Frost Valley YMCA has been welcoming visitors to what is now 5,700 acres in New York’s Catskill Mountains for programs designed around youth development, healthy living, and social responsibility. Co-National Director of HBK Nonprofit Solutions Kathleen Clayton, CPA, PSA, MBA, talks with Frost Valley CFO Chet Krinsky about the organization’s history and mission.

Read about the best practices of highly effective nonprofit organizations in the September 2024 issue of Insights, a publication of HBK Nonprofit Solutions. We hope you find Insights as interesting as it is informative, and we welcome your thoughts and input via the author contact information on page 3. 

Read the latest issue here.