Stewarding Donor Dollars: Financial Reporting for Contributions

Overview

TIAA

This program is presented with generous support from TIAA.

This three-week course is designed for business office and advancement professionals to understand best practices related to gift reporting compliance and donor transactions, as well as enhancing the strategic partnership between the two offices to ensure long-term success.

Responsibility for working with one another, donors and/or auditors as it relates to the receipt, acknowledgement, and entry of gifts and pledges and the usage or stewarding of those funds is an important function of both the business and development offices. Participants will be empowered with the knowledge and tools to address the challenges that come with gifts (especially those with restrictions, non-cash gifts, contributed services, etc.), as well as the day-to-day best practices for financial reporting and accounting for gifts properly in the school’s records, public filings and more. Additionally, participants will learn how to enhance the strategic partnership between the advancement and business offices to ensure better stewarding of long-term donors and sustainable fundraising efforts in the future.

Topics covered include types of gifts, unrestricted and restricted gifts, redirecting donors, endowment best practices, wills and planned giving, shared information between the business and advancement offices, compliance with IRS and accounting regulations, and the business office role in donor stewardship.

Course Learning Objectives:

  • To create shared understanding between the financial and advancement offices to better serve school donors
  • To increase school compliance on gifts (accounting and tax regulations for 501(c)(3) entities)
  • To forge stronger working relationships between business offices and advancement offices

Audience: Business officers (CFOs, controllers, anyone responsible for gift entry or usage) and advancement professionals (specifically the positions that work closely with the business office)

Class size will be limited to 35 participants.

Questions? Contact Rini Sarmaroy at rini.sarmaroy@nboa.org or call 202-407-7139.

Tax Reform Updates

NBOA

NBOA is working to update members about the pending tax reform legislation as well as to advocate for the best interest of independent schools, given that many provisions in the House and Senate bills could negatively impact our industry. Visit NetAssets.org for more information about the proposed legislation and the joint responses sent to Congress from NBOA and NAIS on behalf of the independent school community. Schools are urged to contact their representatives.