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Nonprofit Executives is an organization focused on connecting professionals committed to the nonprofit sector.

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September 25, 2014 By Nonprofit Executives

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Filed Under: Uncategorized

9/16/14 Boston Networking Group Meeting

July 29, 2014 By Nonprofit Executives

The next Nonprofit Executives Meeting with Leigh Tucker of Accounting Management Solutions will be held on Tuesday, September 16th from 8:30 am to 10:30 am.

There will be light refreshments and coffee/tea provided.

This meeting will be held at the Accounting Management Solutions, Inc. office located at 800 South Street, Suite 195, Waltham, MA 02453.

Please RSVP no later than September 9th for this meeting. Replies should be sent to me at ltucker@amsolutions.net and to Karen Boonstra at kboonstra@amsolutions.net.

Filed Under: Boston Events, main

Does Your Bookkeeper Drive an Airbus?

July 17, 2014 By Nonprofit Executives

Fifty billion dollars. It’s a staggering sum of money that most people can only fantasize about, and when asked, what you would do with such an outrageous amount of money, there is  a struggle to translate into everyday terms.

To provide some perspective, here’s a fun shopping list of things you could buy if you had $50 billion:  33 Yankee Stadiums, 25 percent of the Microsoft Corporation, 520 Neverland Ranches, or 120 Airbus 380s (these are the cool double-deckers that Saudi princes buy.)

What is even more unfathomable than owning just one Yankee Stadium, is the fact that $50 billion is  the estimated amount that is lost each year to fraud in nonprofit organizations (according to the New York Times). One might assume that most fraud takes place in  large global charities with deep pockets similar to the Red Cross or UNICEF.  In reality, most embezzlement takes place in smaller organizations with fewer than 100 employees due to the fact that these organizations are less likely to have adequate internal controls in place.

When it comes to embezzlement, it is a sad irony that nonprofits are founded on the noble intention of improving the state of mankind, and unfortunately can become the easiest targets for  fraud.  Small nonprofits are even more vulnerable because their environments are very personal, more intimate, and nurture a false sense of security that “it could never happen here.” But it isn’t too hard to imagine how an employee, facing their own financial pressures and temptations, might begin to skim a little cash here or there. If you are watching the news headlines,  there have been multiple reports on   how  cash skimming  soon evolves into falsified time sheets, expense reports, and more, until the nonprofit is losing huge amounts of money – one Airbus seat cushion at a time.

What to do:  to protect the mission and the reputation of a nonprofit? Leaders can implement best practices that will go a long way toward preventing “fraud,” “embezzlement,” “larceny,” “and other charges” that are often described in the news. Conducting surprise audits, requiring regular job rotations, enforcing cross-checking and review processes for all financial transactions, and providing hotlines for anonymous whistleblowers are just a few of the precautions that can be taken. These policies are not meant to be a burden to your operations, but a way to preserve both your financial resources and the public’s trust in your good name.

If you are not sure whether or not you have enough checks and balances in place to protect against fraud, external auditors, industry experienced consultants can offer some important insight into where you may be at risk. With so much at stake, you want to ensure that the  donations that are generously made to your organization are used for their intended purpose and not for an employee’s personal gain.

Filed Under: main, The Nonprofit Blog

10/15/2014 NY Networking Group Meeting

June 19, 2014 By Nonprofit Executives

I am extremely thrilled to be announcing the expansion of my Boston based Nonprofit Executive Networking Group to New York City. The focus of this group is to connect a community of like-minded professionals committed to the nonprofit sector by building on industry-related resources, exchanging new opportunities, achieve common goals and develop strong lasting relationships.

Who should attend:

If you are thinking about transitioning within or into the nonprofit sector or you are curious about nonprofit board involvement, etc. this group is for you. All areas of expertise are welcome whether you are in finance/accounting, marketing, senior management, development, etc.

The meeting will take place on: Wednesday October 15, 2014 from 9:00 am to 12:00 pm.

This meeting will be held at the NYSSCPA office located at

14 Wall Street 19th Floor, Conference Room #1, New York, NY

How to Prepare:

I strongly encourage you to bring copies of your resumes, business (or personal) cards, a list of organizations that you would like contacts within, or a few questions/issues you would like to discuss during this time.

History has shown over the ten plus years that this group has existed, that there is a lot of great information to be learned and strong networking connections to be made.  We continue to encourage people who are working for a nonprofit organization, a health care organization, an institution of higher education, or a service provider, to join us.

Due to space restrictions, this meeting will be limited to 25 attendees.  However, please do feel free to forward this to other potentially interested people. Should your schedule end up with a conflict, please do advise Jeff and myself ASAP. We are always dealing with people on a wait list who wish to attend.

Please RSVP by October 10th by replying to my email at ltucker@amsolutions.net and also to Jeff Kelly at jkelly@amsolutions.net.

Filed Under: New York Events

6/25/14 Get on Board: Tech + Nonprofit Matchup

May 29, 2014 By Nonprofit Executives

I thought this free event might be of interest to those who attend the Nonprofit Executives Meetings.

Get on Board: Tech + Nonprofit Matchup

Wednesday, June 25 from 5:45 – 7:30 pm @ GA Boston 51 Melcher Street Boston, MA 02210

ABOUT THIS EVENT

Ever think about joining a nonprofit board but not sure how to get involved? Do you have an in-demand skill that you’d love to share for the greater good? Well, now is your chance to learn how you can add value to a nonprofit and meet a few who are looking for new board members and young professionals to get more actively involved in their organization.

Startups and nonprofit organizations are two of the biggest and most exciting players in Boston’s ecosystem – but they don’t also have the opportunity to work together. General Assembly, TUGG and WeWork would like to change that.

Nonprofit organizations are always on the look out for energetic, smart, mission-driven people to participate on their boards, mentor or volunteer. Entrepreneurs are often looking for ways to connect with the greater community and hone their technical and business skills.

There will be a short presentation discussing all the ways you can add value as a board member outside of monetary contributions followed by a meet and greet fair featuring several local non profits who are looking for board members.

More Information & Registration

Filed Under: Boston Events, main

Why Understanding Your Form 1023 is “Mission Critical”

May 20, 2014 By Nonprofit Executives

Last month I gave a seminar on revenue diversification to a group of people who serve on the boards of a wide variety of nonprofit organizations. In my work, I have the pleasure of meeting dynamic leaders who are dedicated to serving others and to providing their organizations with the oversight that will help them achieve the missions for which they were created.

What I found surprising and potentially problematic was that the vast majority of my audience, though passionate about their missions, could not tell me anything about the real mission statements on which their charities were founded. The one that appears on their Form 1023 and that is submitted to the IRS to gain the service approval for a tax-exempt status. Most of my audience had never heard of, nor seen, nor read their Form 1023.

In order to gain tax exempt status under the IRS Section 501(c), nonprofits are required to complete a Form 1023, stating the intended mission of the organization such as charitable, religious, educational, or scientific purposes. They are also required to provide a detailed narrative of all past, present and planned activities that support this purpose. Gaining tax exempt status saves the organization from paying a host of taxes such as federal income tax, federal unemployment tax, state tax, and more. The danger arises when a nonprofit begins to engage in activities that fall outside the parameters of what they originally listed on their Form 1023. Then, they could be at risk of losing their tax exempt status and all of the financial benefits that come with it.

For example, if a nonprofit earns income through activities that are not related to those on the Form 1023, they could be required to pay taxes on that income. More importantly, if a nonprofit participated in political campaigns, lobbying, or engaged in activities that benefited an individual’s private interest, they could be stripped of their tax exempt status altogether. No matter how well intentioned these actives might seem, the IRS may take a completely different view.

Whenever I to talk with people who are thinking of assuming a position of leadership within a nonprofit, I strongly recommend that they first gain a clear understanding of the organization’s mission, and that includes the important information of the mission detailed in their Form 1023. One of the most important things that you can do to protect the interests of your nonprofit is to know and embrace the real mission statement and all of the rules that apply to it. And this mission, should you choose to accept it, will ensure that you, your donors, and your volunteers can continue to serve the causes that are nearest and dearest to your hearts.

This blog will self-destruct in sixty seconds.

Filed Under: main, The Nonprofit Blog

D – Upcoming Event 1 – Boston (Featured)

May 15, 2014 By Nonprofit Executives

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A – Testimonial 2 (gray)

May 15, 2014 By Nonprofit Executives

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C – Testimonial – 1 (teal)

May 15, 2014 By Nonprofit Executives

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6/17/14 Boston Networking Group Meeting

May 14, 2014 By Nonprofit Executives

The next Nonprofit Executives Meeting with Leigh Tucker of Accounting Management Solutions will be held on Tuesday June 17, 2014 from 8:30 am to 10:30 am.

There will be light refreshments and coffee/tea provided.

This meeting will be held at the Accounting Management Solutions, Inc. office located at 800 South Street, Suite 195, Waltham, MA 02453.

Please RSVP no later than June 9th for this meeting. Replies should be sent to me at ltucker@amsolutions.net and to Jeff Kelly at jkelly@amsolutions.net.

Filed Under: Boston Events, main

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