GRF On-the-Go Podcast

GRF On-the-Go Podcast

by GRF CPAs & Advisors

Management Non-Profit

Season 5

Understanding the Statement of Functional Expenses: Key Considerations for Nonprofits

In this episode, hosts Tricia and Yev take a practical look at the nonprofit statement of functional expenses and share what auditors commonly see during the audit process. They cover best practices for expense classifications, allocation methodologies, and year‑over‑year consistency, along with guidance on breaking out major program services and avoiding oversized miscellaneous categories. Tricia and Yev also explain how the statement of functional expenses connects to the statement of activities and Form 990 reporting, offering helpful insights for nonprofit finance teams, leaders, and board members focused on clarity, transparency, and audit readiness.

Nonprofit Endowments Demystified: Rules, Risks, and Best Practices

Tricia and Yev break down the essentials of nonprofit endowments, including donor restrictions, spending policies, underwater endowments, and the difference between true and quasi endowments. Perfect for nonprofit leaders, finance teams, and auditors looking to stay compliant and informed.

Developing Accurate and Flexible Budgets

Budgeting is not just an annual task—it’s a dynamic process. Those who master a well-crafted budget know it is more than just numbers. It’s a powerful tool for strategic decision-making, financial stability, and mission impact. In this one-hour webinar, nonprofit leaders and finance professionals will learn how to develop budgets that are both accurate and adaptable in an ever-changing environment. This session will walk you through best practices for budgeting with clarity and confidence, aligning financial plans with program goals, and preparing for both opportunities and uncertainties. Whether you’re preparing your first organizational budget or refining a long-standing process, this webinar will give you the tools to budget smarter—not harder.

Building and Maintaining Operating Reserves

One of the key recommendations from financial advisors and accounting professionals is the creation of an operating reserve fund—an unrestricted pool of funds that can sustain operations during periods of revenue shortfall. Is your nonprofit prepared for financial uncertainty? Join us for this essential one-hour webinar designed to help nonprofit leaders and finance professionals understand the importance of operating reserves—and how to build and maintain them effectively. You’ll learn practical strategies to strengthen your organization’s financial resilience, gain board and stakeholder buy-in, and ensure long-term sustainability. Whether you’re starting from scratch or looking to refine your reserve policies, this session will provide actionable insights and tools tailored to the nonprofit sector.

Special Events Revenue Explained

In this episode, Tricia and Yev dive into the world of nonprofit special event, from galas to golf tournaments. They break down the accounting and audit considerations around special events revenue, including bifurcation of exchange vs. contribution elements, ASC 606 analysis, and financial statement presentation options. Whether you're planning your first fundraiser or preparing for year-end audits, this episode is packed with practical insights, and a few laughs!

2025 Tax Planning in a Shifting Landscape

2025 is shaping up to be a pivotal year for tax planning. A new administration and Congress in Washington have enacted a sweeping bill with significant implications to the tax code. Businesses and individuals alike face new opportunities as the year draws to a close and new laws are set to go into effect. Join GRF’s tax experts for a timely discussion on how to prepare, adapt, and take advantage of the evolving tax landscape.

Common Findings in Single Audits

Join GRF for an informative session that will provide a practical overview of the Single Audit process under Uniform Guidance, including a walkthrough of the Compliance Supplement and a discussion of frequently cited audit findings. Attendees will gain valuable insights into strengthening internal controls, improving documentation, and preparing for a successful audit. Don’t miss this opportunity to enhance your organization’s audit readiness and compliance posture.

Understanding In-Kind Contributions for Nonprofits

In this insightful episode, Tricia and Yev dive deep into the complexities of in-kind contributions within the nonprofit sector. From donated dinners and pro bono services to below-market leases and software licenses, they explore how nonprofits should recognize, value, and document these contributions.

Focus on the Fundamentals in Times of Uncertainty

In this episode, we’re joined by Leslie Zeid, Principal in Outsourced Accounting Advisory Services, for a timely discussion on how organizations—especially nonprofits—can navigate financial uncertainty by returning to the fundamentals. With economic shifts, funding volatility, and increased pressure on financial planning, our hosts discuss how organizations are reassessing their financial health, emphasizing the importance of liquidity, reliable forecasting, and mission alignment. Whether you're facing uncertainty or planning for long-term sustainability, this episode offers grounded insights to help you stay focused and financially resilient.

Cracking the Code on Conditional Contributions: What Nonprofits Need to Know

In this episode, Yev and Tricia dive deep into one of the most nuanced areas of nonprofit accounting—conditional contributions. From understanding the key criteria that define a contribution as conditional, to navigating gray areas in grant agreements, they unpack the practical implications for revenue recognition, disclosure requirements, and audit readiness. Whether you're a nonprofit leader, accountant, or auditor, this conversation offers valuable insights into ensuring consistency, compliance, and clarity in your financial reporting.

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