Unified Financial Reporting System for Not-for-Profit Organizations

Sponsored by CompassPoint Nonprofit Services, formerly known as theSupport Center for Nonprofit Management/ Nonprofit DevelopmentCenter Nothing can be more important to an organization's health andsuccess than the quality of its financial reporting. Thiscomprehensive guide is for all nonprofits that are required tocomply with financial reporting standards set by the IRS andthirty-five state charity regulators (Form 990), FASB and AICPA(GAAP), grantmakers, and the like. It shows how to unify financialreporting requirements without compromising the organization'saccuracy and accountability.

"Provide[s] management with a wide variety of information that wasnot previously available" --Dennis F. Dycus, director, Office ofthe Comptroller of the Treasury, Division of Municipal Audit, Stateof Tennessee "In playing chess, the move that accomplishes several purposes isthe strongest. This book does exactly that for nonprofits. It givescomputer technology the ability to produce reports for funders,budget managers, governmental regulators, and taxing authorities,all from one set of financial data, input only once." --CharlesKirkland, former chair, AICPA Not-for-Profit OrganizationsCommittee, and founder, Kirkland, Eckels & Co "Well-defined, relevant, and reliable guidelines that shouldenhance the quality and credibility of financial reports." --KevinA. Kavanaugh, vice president, financial services, American DiabetesAssociation "Helps to simplify and align the federal/state record keeping andreporting." --James J. Caputo Sr., consultant, and chair, theGreater Washington Society of CPA's Not-For-Profit-OrganizationsCommittee "As we move into the age of nonprofit financial transparency andinstant Web access to reporting documents. . . .it is imperativethat nonprofit practitioners, accountants, and lawyers understandand implement the concepts embodied in this guide." --Arthur W.Schmidt, Jr., president, Philanthropic Research, Inc., andpublisher of the GuideStar Web site

RUSSY D. SUMARIWALLA is former president and CEO of United WayInternational and has been a leader in the nonprofit sector forover thirty years. He is the author of several publications,including the first and second editions of United Way of America'sAccounting and Financial Reporting Guide. He was also the projectdirector for the 1988 edition of Standards of Accounting andFinancial Reporting for Voluntary Health and Welfare Organizations,also known as "The Black Book." WILSON C. LEVIS is manager of the Nonprofit Management Group in theSchool of Public Affairs, Baruch College, the City University ofNew York. He also serves as project manager for Baruch College'squality reporting projects. He is former vice president of theNational Charities Information Bureau.