Non-Profit Insights

Let’s face it: Most nonprofits are founded on a passionate belief in service. This doesn’t always include a passion for numbers. To fill this gap in financial expertise, nonprofits often hire chief financial officers (CFOs). But do all nonprofits — including small organizations — need one? This article examines the duties of a CFO, how the size of a nonprofit organization may affect a CFO’s role, qualifications that a CFO should bring to the job, and whether outsourcing the job may be the right move.

MBK remains steadfast in its commitment to the community in 2024.

SECURE 2.0 - There are some significant changes in 2024 and 2025 that may help nonprofit employers recruit and retain employees. This article presents what organizations need to know.

According to the Association of Certified Fraud Examiners’ (ACFE) Occupational Fraud 2022: A Report to the Nations, the average loss for nonprofits was $851,000. The ACFE report found that almost 30% of the victim organizations lacked adequate internal controls to prevent fraud from occurring. In addition to minimizing fraud, comprehensive internal controls also help ensure accurate accounting records and financial statements. This article discusses four critical measures that nonprofit organizations can use to help combat fraud. A short sidebar covers how motivation and rationalization play a part in a fraudster’s thought process.

Last Wednesday, ahead of the Thanksgiving holiday, The Springfield Rescue Mission spent the day serving up hot Thanksgiving meals to area residents in need. Meals were served through a drive-through service and delivered in addition to their on-site banquet. The staff at MBK came together for a Thanksgiving drive and we were proud to help support The Springfield Rescue Mission for this year's banquet. Homelessness and food insecurity have been on the rise in recent years and CEO Kevin Ramsdell says they've seen an increase in demand at The Springfield Rescue Mission. The organization works year-round to provide food to members of our community who are facing lack of food.

Tuesday, November 28th is Giving Tuesday, a day to find ways to give back to your community in whatever ways you can, whether it’s bringing a smile to a neighbor’s face, or sharing some of your resources with an organization close to your heart. This Thanksgiving we’d like to remind you to consider what ways you may be able to give back to your community in this giving season.

Three years after the COVID-19 pandemic hit the United States, nonprofits appear to be in a significantly better place in terms of overall employment than they were at the end of 2021. That’s according to the Nonprofit Employment Data Project at George Mason University.

uch of the Inflation Reduction Act signed into law in late 2022 contains provisions intended to combat climate change, largely through tax incentives. Such tax breaks aren’t usually relevant to the work of nonprofits. But for organizations constructing new facilities or adding improvements, the Act’s changes to one tax deduction could benefit them. This article reviews the benefits available under the Act. In addition, a short sidebar covers how the Act allows eligible organizations to receive certain tax credits — which otherwise would be of little use to nonprofits that pay no income tax — as direct payments from the IRS.