Advisory Services

Maximizing the Impact and Effectiveness of Board Service

Posted on , updated on

At Tate & Tryon, a firm focusing exclusively on nonprofit finance, we encounter highly motivated board members, but sadly, many dedicated board members don’t fully understand their responsibilities, particularly when it comes to financial governance.
The Antonin Scalia Law School at George Mason University, in partnership with Heidrick & Struggles, has recently released an excellent report […]

Case Study: Creating a Better Financial Strategy with Tate & Tryon

Posted on , updated on

 
The Challenge
A $100-million-dollar nonprofit accumulated a liquid reserve of $120 million, and The Board was at odds as to what their next steps should be. Some believed the reserve was excessive and were concerned about potential IRS problems, negative ratings by watchdog groups, and constituent perceptions about a large war chest. Others expressed concerns about […]

So What is a Risk Assessment?

Posted on , updated on

By: Charles Tate, CPA, Managing Partner
In the aftermath of high-profile scandals and failures, nonprofit boards have turned their attention to enhanced corporate governance, strategic planning, and risk management. All nonprofits face uncertainty and the challenge for management is to determine how much uncertainty to accept as it strives to meet its mission through the strategic […]

DOL Continues Outreach Efforts Aimed at Improving Audit Quality of Employee Benefit Plans

Posted on , updated on

In May 2015, the U.S. Department of Labor (DOL) released a report titled, “Assessing the Quality of Employee Benefit Plan Audits,” which noted that almost 40% of plan audits had “major deficiencies.” Included in the report were recommendations, one being that the DOL increase its outreach efforts to educate plan sponsors and administrators of employee […]

DOL Continues Outreach Efforts Aimed at Improving Audit Quality of Employee Benefit Plans

Posted on , updated on

In May 2015, the U.S. Department of Labor (DOL) released a report titled, “Assessing the Quality of Employee Benefit Plan Audits,” which noted that almost 40% of plan audits had “major deficiencies.” Included in the report were recommendations, one being that the DOL increase its outreach efforts to educate plan sponsors and administrators of employee […]

New Guidance Issued for 403(b) Plans

Posted on , updated on

Recently, the IRS has issued new procedures that will impact most 403(b) plans.  The first relates to the IRS granting an opinion on the plan’s tax status, commonly referred to as an IRS determination letter.  The second provides sample language in drafting of new 403(b) plans.  The third and final new significant procedure contains new guidance for correcting […]

The Right Size, Right Fit