19Mar 2014 by Fred Crooks
Principle 6: Protection of Assets

Principle 6: Protection of Assets

Business Advisory, Non Profit Principles: Steering You in the Right Direction
The board of a charitable organization must be certain that the organization is organized and has a good system to protect their assets. Such assets include property, financial, human resources, programmatic content, material, integrity and their reputation. These all must be protected from loss or damage. Thus, the board should be regularly reviewing the organization’s need for general liability and liability insurance for their directors and officers. CORE CONCEPTS -The board manages the organizational assets. -Every organization should have adequate risk management. -Risk can be either assumed, eliminated, protected, or even delegated. -The board, the organization, and those associated with the organization all need to be covered with liability protection. LEGAL AND COMPLIANCE ISSUES -The board is responsible for watching the activities of the organization. -Each board member has duties…
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12Mar 2014 by Fred Crooks
Introduction to Operation: Rescue Main Street

Introduction to Operation: Rescue Main Street

Operation: Rescue Main Street
Our very own Fred Crooks at CPA Corporation contributed to the book Six Steps to Small Business Success, a book designed to meet you, the business owner, right where you are. Whether developing a business idea or looking to sell an enterprise you have been building for years, this book can assist you in arriving at your destination. The following questions are developed and answered within the book as we take the journey with you in Operation: Rescue Main Street. Step 1: Pre-Business Planning - Have you selected the right business for you? - Do you have a business plan in place? - Do you have a strategic marketing plan in place? - How do you coordinate business and family life? Step 2: Start-Up: Finances, Budgets, and Numbers - Do…
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05Mar 2014 by Fred Crooks
Principle 4: “Whistle-blower” Policy

Principle 4: “Whistle-blower” Policy

Non Profit Principles: Steering You in the Right Direction
It is vital to have a policy in place to protect those individuals who come forward with information regarding unlawful practices or violations of organizational policies. The “whistle-blower” policy should implement specifics values to protect both the company and the individual bringing information forth. Certain laws are in place to protect those who provide valuable information about the organizations that have unethical activities. CORE CONCEPTS -Each organization should have a confidential process for addressing all complaints or reports of supposed illegal or unethical activities. -Staff and volunteers need to feel safe to report unacceptable acts. -Retaliation against whistleblowers can be a criminal act that applies to all organizations. -Appropriate internal controls can help alleviate the occurrence of unacceptable acts. LEGAL AND COMPLIANCE ISSUES -The Sarbanes- Oxley Act (SOX), Section 1107,…
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19Feb 2014 by Fred Crooks
Principle 3: Conflicts of Interest

Principle 3: Conflicts of Interest

Non Profit Principles: Steering You in the Right Direction
A charitable organization should implement policies and procedures to ensure that all conflicts of interest or the appearance thereof, within the organization as well as the board are managed with disclosure and recusal. All conflicts of interest need to be addressed cautiously and quickly resolved even though they may not be illegal or unethical. Yet these are still unavoidable. Strategies need to be intact and followed by the board when dealing with such conflicts. It is also important to make certain that only independent board members vote when a conflict of interest occurs (more information on Principle 12).  On the opposite side, board members with material conflict of interest must recuse themselves from such board discussions as well as votes. It is crucial that a written conflict- of- interest policy…
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05Feb 2014 by Fred Crooks
Principle 2: Code of Ethics

Principle 2: Code of Ethics

Non Profit Principles: Steering You in the Right Direction
A formally adopted, written code of ethics is extremely important for a non-profit company to adopt and have all of their directors or trustees, staff, and volunteers be familiar with and adhere to. The laws surrounding the code of ethics provide minimum requirements for your board and organization to remain compliant. We suggest using these laws as a set of guidelines to build your code of ethics to the next level.  Also remember that ethical standards extend legal requirements, meaning that it is not about just doing things right, but also doing the right thing. To start conversations around a code of ethics, consider outlining your organization’s beliefs and values to which it aspires and then providing a code of conduct for all those who work with the organization. LEGAL…
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18Dec 2013 by Fred Crooks
Should Salaries be Capped for Nonprofit Executives?

Should Salaries be Capped for Nonprofit Executives?

Non Profit Principles: Steering You in the Right Direction
By: Fred Crooks The President of the United States makes $450,000 and this is the amount that California unions hope to cap non-profit hospital executive salaries at. - George Halvorson, CEO Kaiser Permanente:  $7,861,915 - Lloyd Dean, CEO Dignity Health:  $3,907,346 - Patrick Fry, CEO Sutter Health:  $3,045,216 - James Brewster, VP Adventist Health Roseville:  $2,010,040 - Robert Carmen, CEO Adventist Health Roseville:  $1,741,988 - Stanley Adams, VP Adventist Health:  $1,563,496 - Thomas Gagen, CEO Sutter Medical Center Sacramento:  $1,391,316 -  Patrick Brady, CEO Sutter Roseville Medical Center:  $1,059,659 As you can see, non-profit hospital executives make well over $450,000.  There is concern about how non-profit hospitals are “non-profit.”  The California Nurses association tried to pass AB975, which would have required nonprofit hospitals to justify their nonprofit status if their…
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06Nov 2013 by Fred Crooks
How to Generate More Money for Small Businesses

How to Generate More Money for Small Businesses

Business Advisory, FREE Business Tools: Learn the Secrets
Preparing for Small Business Saturday By: Fred Crooks, CPA On the Saturday after Thanksgiving, customers will shop in small businesses for Small Business Saturday.  This new holiday was conceived in 2010 to promote sales in small business since Black Friday was such a huge revenue booster for the big–box stores.  Small businesses were left out of the huge sale weekend and now they have a chance to join in on the fun. Last year American’s spent $5.5 billion dollars in small businesses the Saturday after Thanksgiving! This new holiday is making a name for itself slowly but surely.  In 2011 consumer awareness measured at 44 percent and rose 23 percentage points the next year.  Small Business Saturday with 100 million shoppers is still overshadowed by the 247 million shoppers who…
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11Oct 2013 by Fred Crooks
Tech Financing: New Technology, New Financing

Tech Financing: New Technology, New Financing

Business Advisory
By Fred Crooks In an era when tech companies can go through explosive growth spurts, financing options can be complicated.  On one hand, going public can bring in necessary financing, but the scrutiny of Wall Street can limit the company’s freedom and bring new pressures to keep up with the quarterly earnings.  When the pressure to show positive quarterly earnings is on, people tend to put quarterly earnings ahead of the long term growth of the company on the list of priorities.  This tendency makes projects that require several quarters of investments that lack immediate returns, such as creating major new product lines, more difficult for publicly traded companies. Going public isn’t always the best option for growing cash-flow-positive tech companies, and fortunately there are other options available that allow…
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23May 2013 by Fred Crooks
Having Your Business Stand Out Within Social Media

Having Your Business Stand Out Within Social Media

Business Advisory, Marketing
By Fred Crooks Businesses worry on how to make themselves stand out within social media due to the Internet being a competitive place to have your business stand out in. With a few tips, you can have your business be more recognizable amongst your other competitors. Start by creating a name or URL that includes the search terms that you want people to find you by as well as having a catchy name that people will remember. You don't want a name that is difficult for people to search for due to the Internet being so broad. Make sure there is consistency within your name and URL if you are using different social networks as well as websites. On the social media sites, include a brief information paragraph about your business…
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14May 2013 by Fred Crooks
Teaching Our Children About Smart Money Spending and Saving

Teaching Our Children About Smart Money Spending and Saving

Uncategorized
How savvy do you think your kids are with finances? Much less than they are with their cell phones! It’s no surprise to see teens still being reliant on their parent’s wallets. It can be seen in the news everywhere; student debt still is increasing and kids are moving out of their parent’s home at an older age. Not only that, employers are struggling to find employees with the knowledge and skills in finance. With our children acquiring debt (student loans, car payments, credit cards, etc.), how can we, as parents, teach our kids about efficient money spending? In high school, the highest they get in finances will be a basic economic class, but what about saving and spending correctly? As a parent, our job is to show them the…
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