WATCH A CLIP OF THE EPISODE ABOVE!
In this episode of Beyond the Donation, managing partner Ken Cerini of accounting firm Cerini and Associates discusses strategies for better fiscal management and the roles of board members in a strong nonprofit.
Ken stresses the importance of implementing effective financial controls, maintaining open communication between board members and management, and conducting regular board meetings. He also emphasizes the significance of accurate budgeting based on monthly variations rather than a divided annual budget.
Ken provides insights on potential minor tax exemptions and the risk of nonprofits losing their tax exemption status if not careful. He further explains the nuances and implications of the 501 (c)(3) tax exemption. Additionally, he shares advice to smaller organizations on attracting board members and adapting to changing technology trends for more effective accounting and record keeping.
Kenneth R. Cerini, CPA, CFP, FABFA
Managing Partner
Ken is the Managing Partner of Cerini & Associates, LLP and is the executive responsible for the administration of our not-for-profit and educational provider practice groups. In addition to his extensive audit experience, Ken has been directly involved in providing consulting services for nonprofits and educational facilities of all sizes throughout New York State in such areas as cost reporting, financial analysis, Medicaid compliance, government audit representation, rate maximization, board training, budgeting and forecasting, and more.
