Free resource explaining overtime rules

December 2, 2016, 8:36 am
Image courtesy of Adobe Stock.

Image courtesy of Adobe Stock.

The Evangelical Council for Financial Accountability has published a concise, free resource explaining many of the rules of overtime, especially in the context of the charity world.

You can find it here and get a copy merely by giving them your email address. Not to worry – I don’t think they are going to overload you with spam – I’ve signed up for several things from them and the only emails I get are for free resources and invitations to webinars that are actually of interest. Oh, and news that is of interest to those of us in the charity world.

Oh, did I say it was free?


What to do about the new overtime rules since they are on hold?

November 30, 2016, 11:00 am
Image courtesy of Adobe Stock.

Image courtesy of Adobe Stock.

The new overtime rules were set to go into effect tomorrow, December 1. The rules are on hold as a result of an injunction issued by a federal judge. What should charities do about changes that have been implemented, or announced, or on the drawing board?

Two articles have some suggestions:

11/29 – Baltimore Business Journal – Plenty of questions still surround blocked overtime pay law – It is very uncertain how the new overtime rules will be handled. Article cites the CEO of an outsourcing and payroll company. His advice is stay tuned to developments. The rules could be implemented, overturned, or modified.

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Overtime rules on hold after federal judge issues nationwide injunction

November 28, 2016, 7:13 am
Image courtesy of Adobe Stock.

Image courtesy of Adobe Stock.

…places a hold on the new rules regarding…

Image courtesy of Adobe Stock.

Image courtesy of Adobe Stock.

 

A federal judge in Texas issued an injunction putting on hold the new Department of Labor rule increasing the threshold for paying overtime. The judge concluded there was a reasonable likelihood (I don’t quite appreciate the technical description so will use casual wording) that the lawsuit by 21 states and a lot of businesses would succeed. He also concluded the rule could cause irreparable financial harm. Thus, he issued the injunction, which applies nationwide.

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More background on revision to nonprofit reporting

November 18, 2016, 11:19 am
Image courtesy of Adobe Stock.

Image courtesy of Adobe Stock.

The new rules revising not-for-profit financial reporting are a significant change although they are not as dramatic as what we saw a long time ago with SFAS #116 and #117.

ASU 2016-14, Presentation of Financial Statements of Not-four-Profit Entities, was issued August 18, 2016. You can find the document here.

I will write a series of articles going into detail on the new rules. In the meantime, here are a few more articles providing background.

8/18 – AICPA – FASB’s standard Aims to Improve Not-for-Profit Financial Reporting – good overview of most changes

8/18 – Journal of Accountancy – FASB modifies not-for-profit accounting rules – High level overview. Article also provides some background on the process. Revision of GAAP to require operating measures is still under consideration but will be part of the next phase.

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Podcast on turmoil involving Wounded Warrior Project

October 1, 2016, 11:44 am
Image courtesy of DollarPhotoClub.com

Image courtesy of DollarPhotoClub.com

If you’ve been following the media turmoil surrounding Wounded Warrior Project, you will want to check out a podcast from The Contributing Factor (that is Bill O’Reilly’s website):  Podcast: Ousted Wounded Warrior Project Executives Speak Out.

There are interviews with the two departed senior executives.

That page also has written responses from the board denying the specifics in the Doug White report.

The board asserts that giving dropped as soon as the media reports surfaced. Mr. Nardizzi asserts that he was watching the giving until the day he was released and noticed the giving was only 1.7% below the projected income.

Check out the podcast. I’ll try to have more comments later.


A completely different perspective on the crisis surrounding Wounded Warrior Project.

September 26, 2016, 9:53 am
Image courtesy of Adobe Stock.

Image courtesy of Adobe Stock.

Here are a few articles which will give you a different way of looking at the recent publicity surrounding Wounded Warrior Project. I’ve been swamped by several major projects so haven’t had much time to write recently. Those projects are still not done so I won’t be able to spend as much time on this post as I would like, yet I want to get some comments online for those who have been following the story.

The biggest article is The First Casualty: A report addressing the allegations made against the Wounded Warrior Project in January 2016 by Doug White, published September 6, 2016.

There is a lot of information about the entire story which has received minuscule coverage. Here is my quick recap of his major points:

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Layoffs underway at Wounded Warrior Project

September 1, 2016, 9:09 am
Image courtesy of Adobe Stock.

Image courtesy of Adobe Stock.

Layoffs of about 15% of the staff are in progress at WWP, according to an article at Chronicle of Philanthropy by Timothy Sandoval: Wounded Warrior Announces Layoffs and Program Cuts. That would be a reduction of something in the range of 90 people out of the roughly 600 on staff.

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