The Challenge

Tate & Tryon’s professionals were recently called upon to assist a client with improving the organization’s financial governance practices. Financial oversight responsibilities were unclear and misunderstood, resulting in increasing frustration between the board of directors and senior management. An outdated committee structure had the finance team running in circles to accommodate the constant informational requests coming from the board, and its finance, audit, and investment committees, as well as senior management. Ad hoc financial reporting had become the norm and managing the many volunteer committees had become a full time job.


Having observed hundreds financial governance practices, Tate & Tryon performed a top to bottom review of the organization’s financial reporting and board committee structure. Tate & Tryon revised and condensed financial reports emphasizing key strategic priorities and KPIs using dashboards and non-technical commentary comprehensible by a Board with limited financial expertise. We recommended committee restructuring by combining the finance, audit, and investment committees and helped identify a respected chairperson with financial and accounting experience. Along with the finance committee chair and CFO, Tate & Tryon facilitated a financial orientation for the board and committee members.


Tate & Tryon’s perspective helped the board and committees have a better understanding of their high-level financial governance responsibilities while creating a roadmap to effective communication between volunteers and senior management. Strategic decision-making is now more collaborative and with a better understanding of risks, opportunities and financial consequences. Trust has replaced skepticism and doubt.


Tax-Exempt Organizations and 2017 Tax Reform

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Dear Friends in the Tax-Exempt Community:
Below is a brief overview of the key tax reform proposals relating to tax-exempt organizations. As you know, Congress is currently putting together legislation to effect significant tax reform with a timeline of having it enacted this year. Although Congress is still negotiating, the following reform proposals may impact your […]

Royalty Income of Nonprofits is Being Targeted for Taxation!

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The Senate Finance Committee’s version of the Tax Cuts and Jobs Act includes a number of items that would impact nonprofits.
Perhaps the most immediately significant is the provision that would call for taxing the revenue generated from royalties related to licensing a nonprofit’s name and/or logo. Royalty revenue has traditionally been exempt from income taxes. […]

How Could Federal Tax Reform Impact Nonprofits?

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Exempt Organization Tax11/17/2017


By:  Doug Boedeker, CPA, Partner
It has been a challenge staying current on the twists and turns involved with the proposals for Federal Tax Reform. Many of the ideas within the tax reform package have a direct impact on nonprofit organizations.
Charitable deductions, executive compensation, employee fringe benefits, and intermediate sanctions are just some of the “hot […]

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