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RECENT NEWS

Latest Updates and Insights from Greenwood Ohlund

CFO presenting financial information at a board meeting

Why Your CFO Should Attend Board Meetings

Better Financial Oversight, Transparency, and Governance Should the CFO Attend Board Meetings? In most organizations, yes, the CFO or senior financial leader should regularly participate in Board meetings, particularly when financial performance, budgets, forecasts, cash flow, organizational risk, or long-term strategy are being discussed. The reason goes well beyond presenting financial statements. Having the CFO at the Board table creates

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Switching Banks? What Small and Medium-Sized Organizations Should Consider

Changing banks can create meaningful benefits for a small or medium-sized organization. A new banking relationship may offer better technology, improved customer service, lower fees, stronger fraud controls, greater borrowing capacity, or products that better support the organization’s growth. However, switching banks is rarely as simple as opening a new account and transferring the cash. Bank accounts are often connected

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IRS Form 990 transparency changes affecting nonprofit fiscal sponsorship reporting

The Form 990 Rarely Changes – So Why Is Everyone Talking About Fiscal Sponsorships?

Key Takeaway: While no new Form 990 reporting requirements have been proposed, recent statements from the U.S. Department of the Treasury suggest the IRS is taking a closer look at how nonprofits receive and manage funding. Now is a good time to review your gift acceptance procedures—particularly for fiscal sponsorships—to ensure your organization is well positioned if future reporting or

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