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So far CRI has created 510 blog entries.

Nonprofit IRS Review

Organizations that file inaccurate or incomplete Form 990s are more likely to be selected for a nonprofit IRS review. The scope of an IRS review depends on the type of review, but organizations can expect the IRS to dig deeper into the following areas: Whether the organization filed all returns and forms as required by [...]

2019-09-09T21:18:12-04:00September 8th, 2019|NOT-FOR-PROFITS|

Improve Patient Accounts Receivable and Keep Cash Flowing into Your Medical Practice

As healthcare reimbursements continue to decrease and the responsibility of healthcare costs shift to patients, medical practices must properly manage and improve patient accounts receivable to keep cash flowing. Many employers are moving away from traditional health insurance plans as employer insurance costs continue to rise. High deductible health plans (HDHP) offer lower premiums to [...]

2019-09-04T14:02:09-04:00September 4th, 2019|HEALTHCARE|

Closing a Nonprofit Organization

Dissolving an organization can be difficult and emotional. Whether it is for involuntary or voluntary reasons, there are certain key items and considerations that should occur in that final dance before the music stops and the organization calls it a night. Follow the 5-Steps for Dissolving a Nonprofit There are generally five key steps of [...]

2019-09-10T13:57:08-04:00August 29th, 2019|NOT-FOR-PROFITS|

Four Steps to Facilitate Medical Practice Strategic Planning

With today's rapidly changing healthcare environment, physicians must spend time working on, not just in, their practices. Medical practice strategic planning can be a challenge, but analyzing the practice’s current standing and deliberately forecasting for future endeavors can be the equivalent of a hole-in-one for a medical practice. Step 1: Evaluate the current competitive market.  [...]

2019-09-03T12:12:20-04:00August 12th, 2019|HEALTHCARE|

Transfer Pricing and Not-For-Profits

With transfer pricing, the IRS wields the power to adjust a company’s income if the agency believes the revenue may be inflated from tax evasion. Although transfer pricing is usually associated with international tax, there is also an interesting relationship between transfer pricing and not-for-profits. Pairing Not-for-Profits with Taxes A not-for-profit may owe taxes if [...]

2019-09-10T14:55:22-04:00August 9th, 2019|NOT-FOR-PROFITS|

Five Steps to Lift Self Pay Patient Collections in Medical Practices

Self pay patients were once a small percentage of a medical practice’s patient mix. However, in today’s market, the number of self pay patients is rising due to increases in health plan costs and the number of high-deductible healthcare plans. Medical practices can elevate self pay patient collections by implementing the below five steps. 1. [...]

2019-09-03T15:01:28-04:00July 9th, 2019|HEALTHCARE|

3 Common Questions & Answers: Nonprofit Audit Committee

Today, not-for-profit organizations face more public scrutiny than ever before, and many organizations are placing an emphasis on transparency to retain or attract donors. While IRS regulations require organizations to share the information submitted on Form 990 with the public, most organizations choose to share additional information such as fundraising data, performance measures, and governance policies. A nonprofit [...]

2019-09-04T14:18:53-04:00June 15th, 2019|NOT-FOR-PROFITS|

Implementing Nonprofit ERM Strategies

Many not-for-profit organizations are gambling with risk by failing to implement enterprise risk management (ERM) strategies. The nonprofit ERM process involves identifying internal and external risks, assessing these potential risks, and creating controls to mitigate them. Identifying Risks Begin by selecting an ERM team to identify all possible threats and dangers: from internal and external fraud to [...]

2019-09-09T16:39:53-04:00June 15th, 2019|NOT-FOR-PROFITS|

Charity Watchdog Groups and Nonprofit Fundraising Costs Ratings

Charity watchdog groups such as Charity Navigator, CharityWatch, and the Wise Giving Alliance are generally viewed as a benefit to the philanthropic community. However, the methods of evaluating nonprofit fundraising costs have generated several controversies, and now many nonprofits are wondering if the formula is an adequate representation of organizations. Joint Allocation = Fundraising Expenses [...]

2019-09-04T15:11:01-04:00June 15th, 2019|NOT-FOR-PROFITS|

Keep Your Organization on the Right Track with Disclosure of Nonprofit UTPs

Most not-for-profit, tax-exempt organizations travel full speed ahead until they reach the junction of uncertain tax positions (UTPs). Basic operations—including tax-exempt status—can create nonprofit UTPs that require additional reporting obligations. Nonprofit UTPs For several years now, the Financial Accounting Standards Board (FASB) has required taxpayers that prepare their financial statements  in accordance with Generally Accepted [...]

2019-09-09T16:29:44-04:00June 14th, 2019|NOT-FOR-PROFITS|

Tax Planning Reasons to Potentially Establish a Private Foundation

A private foundation is an excellent vehicle for a family to get an immediate tax deduction for charitable giving—without requiring them to decide yet which organizations or causes are the beneficiaries. What Is a Private Foundation? A foundation is considered “private” when it receives less than one-third of its support from the general public. Private [...]

2019-09-10T10:57:28-04:00May 26th, 2019|NOT-FOR-PROFITS|

Manufacturing Product Costing

Manufacturers should have a firm grasp on how much it costs to produce their products. This knowledge ensures that they can control expenses, account for future production needs, isolate inefficiencies, set appropriate prices on produced merchandise, and improve profit margins. Understanding production costs also allows a company to respond more effectively to changes in the [...]

2019-06-13T10:39:16-04:00May 9th, 2019|MANUFACTURING & DISTRIBUTION|

How Predictive Maintenance Helps Manufacturers Prevent Production Delays

The breakdown of a major piece of manufacturing equipment triggers a domino effect of halted production. This unexpected shutdown usually results in costly last-minute repairs, late or canceled orders, and angry customers. Manufacturers who conduct predictive maintenance on machines and equipment can reduce the risk of an unexpected breakdown. Understanding Predictive Maintenance A manufacturer can [...]

2019-06-13T13:10:08-04:00May 7th, 2019|MANUFACTURING & DISTRIBUTION|

5 Tips for Lessening Stress with Nonprofit Audit Preparation

Does the thought of your not-for-profit’s annual external audit make you nervous? If so, relax and take a deep breath. These five nonprofit audit preparation tips will help alleviate audit stress for both the nonprofit staff and the external auditors. 1. Be prepared with pre-audit items. Most auditors will provide a list of items needed [...]

2019-09-04T14:25:18-04:00April 25th, 2019|NOT-FOR-PROFITS|

Best Practices for Nonprofit Volunteer Management

Sometimes the most valuable donation a not-for-profit organization receives is the gift of one’s time. Often people choose to volunteer their time, talents, and knowledge for the benefit of their favorite charity in lieu of a monetary donation. In the current economy, not only can volunteerism help a nonprofit make up for losses in charitable [...]

2019-09-04T14:47:47-04:00April 1st, 2019|NOT-FOR-PROFITS|

How to Arrange a Medical Practice Buy-Sell Agreement that Minimizes Disputes

Many medical practices are seeing an influx of new patients in the wake of healthcare reform. Some practices may respond to this influx by adding more physicians to their staffs. Recruiting and retaining physicians requires the skill of a conductor to keep all areas of the practice playing in unison. Just as a musician needs [...]

2019-09-03T12:01:04-04:00March 18th, 2019|HEALTHCARE|

Build Medical Practice Productivity with Non-Physician Providers

Every healthcare practitioner should work at the top of his or her license. That’s why non-physician providers - or NPPs - are essential to medical practice productivity. NPPs include nurse practitioners, nurse midwives, physician assistants, and physical therapists. These providers possess a skill set along the clinical continuum between registered nurses and doctors. Create a [...]

2019-09-03T16:11:24-04:00March 15th, 2019|HEALTHCARE|

Form 990 Marketing: Spotlight Your Nonprofit’s Efforts and Achievements

In 2008, a revised and expanded Form 990 debuted. For some organizations, this new form was indicative of financial mismanagement. Several organizations that rank charities, such as Charity Navigator, use Form 990 data as a component of their grading systems. Now the Center for Investigative Reporting has ranked the 50 “Worst Charities” using the last [...]

2019-09-04T16:45:57-04:00March 15th, 2019|NOT-FOR-PROFITS|

Setting Nonprofit Executive Compensation

Establishing a salary for the top executives of any organization can be a challenging process, and not-for-profit organizations are no exception. Nonprofits need to offer enticing executive compensation packages to attract and retain top talent. But the IRS can impose excise taxes if it considers nonprofit executive compensation “excessive.” At the same time, the budgets [...]

2019-09-09T22:11:31-04:00March 15th, 2019|NOT-FOR-PROFITS|

Medical Practice Profitability

How can you create medical practice profitability? They can begin targeting sound financial management practices and patient growth strategies that improve overall practice efficiencies. Pinpoint Financial Management Create a budget by checking the previous 12-month financial statement and then setting revenue and expense goals. The budget should include physician compensation and every line item. Scrutinize [...]

2019-09-03T13:46:05-04:00March 9th, 2019|HEALTHCARE|
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