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Gross Mendelsohn Blog

A resource to help business owners, nonprofit executives and high net worth families preserve wealth, grow and thrive.

8 Must-Know Accounting & Financial Reporting Issues for Private Schools

More so than other nonprofits, private schools are often operated like a for-profit entity given the competition, increased costs and scrutiny that schools face.
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Best Practices in Managing a Nonprofit Endowment Fund

I had the opportunity to lead a roundtable discussion, “Responsibilities In Managing a Nonprofit Endowment,” at Maryland Nonprofits’ annual conference. Attendees, who were board members and staff of nonprofit organizations, were looking for insight into...
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3 Things Nonprofit Board Members Should Know About Financial Statements

There are certain things every nonprofit board member should know about the financial statements of the organization. After all, many board members work in for-profit businesses. There are significant differences between for-profit and not-for-profit...
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Who Are the Latest IRS Targets? A List of 23 Audit Triggers

Many taxpayers ask, "How can I avoid an IRS audit?" There’s no 100% guarantee you won’t be picked, because some tax returns are chosen randomly. However, completing your returns in a timely and accurate fashion with your trusted tax advisor certainly...
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What You Should Know When You Need a Business Valuation

The demand for business valuations is growing, in large part due to aging Baby Boomers planning for retirement and gifting their business interests, selling outright or passing away. Other owners are looking to sell out due to economic conditions...
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Recruiting New Board Members: 7 Traits Nonprofits Should Look For

Having a strong governance structure will help your organization remain focused on the overall vision and goals that the nonprofit’s founders originally had in mind when starting their cause.
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