NOT-FOR-PROFIT: CASE STUDIES

Rubino & McGeehin delivers a variety of services to not-for-profit clients.  The following are several examples of recent not-for-profit engagements.

Budgeting and Board Meeting Presentation
R&M routinely assists executive management teams in preparing presentations for boards of directors.  This specialized service includes assisting with budget preparation and presentation formats as well as providing narratives to explain the economic impact of programmatic decisions and/or the impact current and proposed changes in accounting and tax law may have on the organization.  R&M’s support in the areas of budgeting and board communications has helped a number of organizations focus on finances and make prudent strategic decisions.

Cost Allocations
R&M assists clients will the allocation of costs for both financial reporting and tax reporting purposes.  A number of our clients have needed assistance in understanding the concept of indirect cost accumulation and allocation.  Some were new recipients of Federal award funds and as a result faced reporting to the awarding agency.  In these cases, R&M assisted in clarifying the difference between direct and indirect costs, cost pools, allocation bases, and cost objectives.  In addition, R&M reviewed the calculation of indirect rates and indirect rate submissions.  R&M’s support helped these clients to recover the maximum amount due to them in accordance with regulations.

Fraud Examination
R&M was retained by a client to examine transactions for a specific time period involving a select number of employees.  The organization suspected possible fraud but had no evidence. R&M examined years’ worth of time and expense records and requested copies of incomplete information from the original vendors.  R&M found sufficient evidence both to support criminal charges against one former employee and to clear two other employees of any wrong doing.  R&M was able to quantify the damages and provide the client a clear understanding of who misappropriated assets and how the crime occurred.  This information made it possible for the organization to take the necessary steps to prevent fraud from happening again.