The Challenge

The Higher Education User Group (HEUG) began in 2001 with just eight Oracle users that wanted to collaborate and facilitate the sharing of ideas, information, and experiences among users of Oracle application software. Today HEUG boasts over 23,000 users from over 900 campuses and 34 countries.  But with that kind of massive growth, HUEG needed to scale-up and streamline their accounting and financial reporting processes to meet the needs of their rapidly expanding global operations.

 

Our Approach

HEUG’s accounting and financial reporting processes had not evolved from a newly formed and relatively simple operational model to a growing and more complex international enterprise. After a thorough analysis, Tate & Tryon concluded that the best approach to modernize processes and reporting was to upgrade the accounting system to a more robust cloud-based accounting, bill payment, and expense reporting solution.  Our solution improved efficiency through work flow automation, and enhanced transparency; providing a more flexible infrastructure for a virtual business.

 

The Results

  • Board members have online access to insightful financial reporting and dashboards. Detailed reporting allows conference planners to manage costs and better predict meeting performances.
  • New online workflow automation tools allow for more efficient transaction review and approval without sacrificing sound internal controls. ACH payments for reimbursements and vendor payments shortened payment time significantly from bi-weekly to daily.
  • HEUG now has ongoing access and support from Tate & Tryon’s experienced, nonprofit focused financial team as it continues to grow.

 

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INSIGHTS & RESOURCES

Tax-Exempt Organizations and 2017 Tax Reform

Posted on , updated on

Uncategorized11/23/2017

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!

Posted on , updated on

Uncategorized11/20/2017

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?

Posted on , updated on

Exempt Organization Tax11/17/2017

Uncategorized11/17/2017

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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