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Source: Accounting Today
Contributors to nonprofit entities increasingly want to know how their money is being used, and this is causing changes in nonprofit operations. Sarbanes-Oxley and the overhaul of IRS Form 990 are also affecting how donors view nonprofits. They are becoming more technically savvy and efficient. They are also becoming more like for-profits, opting for smaller boards of directors populated by experienced for-profit executives. They are even adopting investment strategies similar to those of for-profit companies. Additionally, they are pushing responsibility to lower levels in their organizations. In short, they are behaving less like “mom and pop” businesses and more like modern for-profit corporations.
From Accounting Today, September 26 - October 9, 2005, p. 3.
For the complete article click on the following link: http://www.webcpa.com/article.cfm?articleid=14609&;pg=acctoday. |
