In the wake of Hurricane Katrina, many nonprofits are struggling to meet the demands of those in need and the needs of their donors. Ensuring that donors' contribution dollars are spent helping hurricane victims, and not to change a light bulb at the local American Red Cross office, is often the accountant's job, as is implementing fundraising software systems with those capabilities."What we're seeing now are huge evolutionary changes in the nonprofit industry that are impacting my practice," said Vincent Carrodeguas, a partner at Coral Gables, Fla.-based CPA firm Goldstein Schechter Price Lucas Horwitz & Co. "Donors are now saying, 'No more [operating NFPs like] mom-and-pop shops.' They want to see where the money is going."
As federal, state and city governments often target funding to nonprofits as an expendable area in a budget crisis, many private donors have stepped up to alleviate the funding dip - but they are demanding more accountability.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access