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So far CRI has created 311 blog entries.

5 Savvy Black Friday Weekend Shopping Tips to Put In Your Bag

Last year’s Black Friday weekend estimated that more than 93 million people performed their holiday shopping online, once again setting a record high according to the Adobe Analytics "2019 Holiday Shopping Trends" report. While many physical locations are still open for business, the COVID-19 pandemic has arranged online shopping to obliterate previous records. If you plan [...]

2020-10-27T13:22:51-05:00October 26th, 2020|CONSUMER PRODUCTS, INDIVIDUAL PLANNING|

Create a Blueprint for Your Nonprofit’s Financial Statement Audit Success

Periodically, nonprofit organizations have to submit audited financial statements to federal and state grantors, contributors, boards of directors, and lenders to illustrate how the organization is performing financially. A nonprofit financial statement audit provides the highest level of assurance that an organization’s financial statements are presented fairly and free of misstatements. Laying the Foundation for [...]

2019-12-27T12:10:19-06:00December 15th, 2019|NOT-FOR-PROFITS|

Build a Lasting Legacy by Focusing on 3 Areas of Nonprofit Sustainability

With more than 1.56 million registered nonprofit organizations in the United States and the unknown total number of unregistered nonprofits, competition for donations, government funding, and grants is getting more and more intense. Demand for nonprofit services continues to grow. So how do organizations continue to serve constituents and thrive 10 or even 100 years [...]

2019-12-27T12:04:36-06:00December 15th, 2019|NOT-FOR-PROFITS|

8 Action Steps for Avoiding Nonprofit Online Presence Tax Traps

Social media and the web are powerful tools for communicating with supporters and furthering an organization’s mission. However, the IRS also considers them official vehicles of communication. That means published statements and electronic media activities are subject to the restrictions that apply to all nonprofit organizations, and prohibited communications can result in revocation of tax-exempt [...]

2019-12-30T15:14:27-06:00December 15th, 2019|NOT-FOR-PROFITS|

Privacy Policies and Data Security Keep Contributions Flowing for Not-for-Profit Organizations

Steady streams of contributions are the lifeblood of not-for-profit organizations. Many factors that affect contributions are completely out of the nonprofit’s control – like changes in the economy and the budgets of the donors which may slow contributions to a trickle. However, one factor that isn’t out of the nonprofit’s control is a breach of [...]

2019-12-30T15:32:01-06:00December 15th, 2019|NOT-FOR-PROFITS|

Building an Effective Nonprofit Audit Committee

Building a house requires a process. Contractors don’t start with the roof but with a strong foundation. Following this proven process yields the result of a home that will stand for years to come. Nonprofit organizations should also be following a proven process that leads to success. Unless you’re a small nonprofit without an external [...]

2019-12-30T15:00:47-06:00December 15th, 2019|NOT-FOR-PROFITS|

7 Steps to Slow Down Nonprofit Embezzlement

Nonprofit embezzlement has the power to stop an organization in its tracks. In fact, nonprofits lose an average of $673,884 per embezzlement, according to The 2013 Marquet Report on Embezzlement. One of the many reasons that nonprofits are so vulnerable to fraud is their increased use of corporate credit cards. Credit card accounts are essentially another [...]

2020-01-31T12:19:26-06:00December 12th, 2019|NOT-FOR-PROFITS|

Construction Accounting: Four C’s of Surety

The most successful contractors always seek to maximize bonding capacity through an ever-improving surety relationship. Given the inevitable market tightening, securing and enhancing surety bond credit is one of the single most important actions for a construction company. As a CPA firm serving thousands of construction companies, we've learned that contractors—especially in the face of [...]

2020-02-19T10:40:15-06:00December 2nd, 2019|CONSTRUCTION|

Healthcare Data Breach: You Could Be Ripe for the Picking

Hospitals and health systems across the country have increasingly reported sophisticated malware attacks, many of which seem to originate from groups in Russia, China, and eastern Europe. These attacks generally fall into one of two broad categories. The first is an intent by the criminals to obtain names, addresses, and social security numbers of patients, [...]

2019-11-18T21:43:14-06:00November 18th, 2019|HEALTHCARE|

Citizen Centric Governmental Reporting

OK – tell the truth… How many people do you think really read that annual governmental financial report from cover to cover?  Do we (CPAs and governmental officials) really think that citizens of a municipality, county, or state actually understand all of the wonderful financial data – or that the report even includes the things [...]

2019-12-30T15:47:48-06:00November 8th, 2019|GOVERNMENTS|

How to Give Donors the Privacy They Expect

In this age of heightened transparency and Form 990 disclosure rules, many nonprofit executives and board members might see their organizations as public entities. As a result, they might not be as protective of donor privacy as they could (or maybe should) be. However, most donors rightfully expect their personal information to remain confidential. As nonprofits seek [...]

2020-01-31T12:03:55-06:00October 19th, 2019|NOT-FOR-PROFITS|

Municipal Bond Arbitrage, Billy Ray Valentine, and What They Have in Common

When you hear the term “arbitrage,” your mind may wander to William Raymond “Billy Ray” Valentine (Eddie Murphy) and Louis Winthorpe III (Dan Aykroyd) feverishly trading orange juice futures in the 1980’s movie “Trading Places.” Arbitrage seems to be a concept reserved for the most elite investment traders and financiers in the world–like Randolph and [...]

2019-12-30T16:04:06-06:00October 8th, 2019|GOVERNMENTS|

FASB’s New Standard for Nonprofit Financial Statements

The Financial Accounting Standards Board (FASB) has rolled out the red carpet for the first major changes to its standards for nonprofits’ financial statement presentation in more than two decades: Accounting Standards Update 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities. The new mandate is intended to clarify net asset classification requirements. In [...]

2019-12-30T13:38:00-06:00October 7th, 2019|NONPROFIT REPORTING STANDARD, NOT-FOR-PROFITS|

Navigating Nonprofit State Solicitation Registration

According to the IRS, approximately 40 states have enacted statutes that require nonprofit state solicitation registration before residents can be solicited for contributions—with some exceptions that may be exempt such as schools, hospitals, and religious organizations. Requirements can vary from state to state, but all charitable organizations should be familiar with regulations in a state [...]

2020-05-11T17:34:26-05:00October 6th, 2019|NOT-FOR-PROFITS|

Reduce Costly Nonprofit Accounting Errors by Engaging a CPA Firm that is “Just Right”

Information travels quickly today and is so readily available via technology and social media that it seems like a spell cast in a fairy tale. While many nonprofits utilize technology and social media tools to raise funds successfully and communicate with donors, they can also have the opposite effect when publicizing negative financial information – [...]

2019-12-30T13:30:41-06:00September 15th, 2019|NOT-FOR-PROFITS|

Balance Sheet Reconciliations: Focus on Internal Controls over Financial Reporting (ICFR)

Are you looking for ways to safeguard your company’s assets? What about making sure your financial statements are accurate, or that you’ve complied with regulatory requirements? By focusing on internal controls over Financial Reporting (ICFR), small to medium-sized businesses can enhance the integrity of their financial records by regularly performing cost-effective internal controls that lessen [...]

2019-10-17T15:49:53-05:00September 15th, 2019|INTERNAL CONTROLS|

UPMIFA – That’s Not a Text

Of course, those in the not-for-profit sector know that “UPMIFA” is not a text acronym. Uniform Prudent Management of Institutional Funds Act (UPMIFA) policies help charitable entities manage investments and control expenses so that they have more money available for program initiatives. UPMIFA’s principle components are similar to the total return approach for investing: Invest [...]

2019-12-30T14:22:20-06:00September 15th, 2019|NOT-FOR-PROFITS|

Acknowledgments of Nonprofit Donations

One of the many benefits of donating to charity is that both the donor and charity can benefit from the donation: the donor may receive a tax deduction for the donation while helping the not-for-profit organization fulfill its mission. However, donors can only claim a tax deduction for contributions of $250 or more if they [...]

2019-12-30T15:06:00-06:00September 15th, 2019|NOT-FOR-PROFITS|

Achieving a Five-Star Quality Rating for Your Nursing Home

Long-term care facilities are also in constant pursuit of a much-desired five-star rating. The Centers for Medicare & Medicaid Services (CMS) developed the Five-Star Quality Rating System as a tool for consumers to compare nursing homes and make better-informed decisions. Consumers can visit the Medicare Nursing Home Compare website to research the ratings for different facilities in their area. Facilities earn [...]

2019-12-26T16:29:27-06:00September 12th, 2019|HEALTHCARE|

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 [...]

2019-09-04T14:02:09-05:00September 4th, 2019|HEALTHCARE|