Insights

Welcome to the club: A quick guide for new nonprofit board members

Congratulations! Your passion and professional skills have been recognized, landing you an esteemed spot on a nonprofit board of directors.

So, what exactly did you sign up for?

8/17/20
By: Deron J. Kling
Industries: Nonprofits

Measuring the impact of CECL adoption

The adoption of Accounting Standards Codification (ASC) 326 – Financial Instruments – Credit Losses (CECL) has been met with nervous anticipation from bankers since it was first introduced in 2016.

8/12/20
By: John Erwin
Industries: Financial Institutions, Financial Services
Services: Audit and Accounting

Blockchain: What is the buzz about?

You keep hearing about blockchain. What is it, really? And why is it being touted as a technology disruptor in every industry?

At its beating heart, blockchain is a way of recording transactions. While this process is nothing new — humans have been keeping books even before the invention of the abacus — blockchain is especially radical because the way it does so confers a number of advantages.

8/11/20
By: Andrew Belz
Industries: FinTech, Financial Services

NCUA updates supervisory priorities for COVID-19

Credit unions have always been in the business of serving members and helping the underserved, so it is only natural that they embrace these unprecedented times and do whatever they can to help their members and community.

8/11/20
By: Alison J. Herrick
Industries: Financial Institutions

How CRM helps the financial industry

Mobile banking. Videoconferencing. Push notifications.

In the financial sector, clients might already have been embracing technology at a steady clip but the novel coronavirus pandemic has accelerated the pace of adoption. While a few financial institutions are scrambling to cover up the inefficiencies such a tech pivot has exposed, the pandemic has also shown that now is the time to reboot the technology conversation — and focus it squarely on the client.

8/10/20
By: Tim Fargo
Industries: Financial Institutions
Services: Tech Consulting, Consulting

Main Street Lending Program modified to include nonprofit organizations — including educational institutions, hospitals and social service organizations

The Main Street Lending Program, established by the CARES Act, has been modified to include two new loan options to provide credit to nonprofit organizations that were in sound financial condition prior to the COVID-19 pandemic.

Nonprofit organizations eligible for the program are tax-exempt organizations described in section 501(c)(3) or 501(c)(19) of the Internal Revenue Code. Other types of nonprofit organizations may be considered at the discretion of the Federal Reserve.

8/10/20
By: Michael Webber
Industries: Nonprofits

How one nonprofit used technology to address the increasing and shifting needs of its communities and constituents

For many nonprofits, new technology is a like-to-have asset.

While it’s clear that in today’s world, technology is actually a need-to-have asset because it enables nonprofits to reach more people and make a greater impact, they know they’re dealing with very real resource constraints. The budget, the people, the expertise — with this lack of resources, many nonprofits are challenged to evolve their current technology into something that can truly help them excel, grow and further work towards achieving their mission.

8/6/20
By: Lauren Haapakoski, Andrew J. Potasek
Industries: Nonprofits
Services: Tech Consulting, Consulting

Guidance on how tribes can modernize technology with CARES Act funds

As most reading this article already know, the CARES Act allocated $8 billion of relief funding for tribal governments, and those funds have come with a usage deadline of December 30, 2020. It’s now August, and tribes are experiencing increasing anxiety over what many consider to be vague guidance on how funds can be spent and how to properly document/justify spend.

8/4/20
By: Jason Winkler
Industries: Tribal Gaming and Government
Services: Tech Consulting, Consulting