News & Insights: hope goldstein
Protecting Resources While Pursuing your Mission: Marks Paneth’s Annual Nonprofit Industry Update
By Hope Goldstein | January 7, 2020
Hope Goldstein, Co-Partner-in-Charge of Marks Paneth’s Nonprofit, Government & Healthcare Group shares key takeaways from Marks Paneth’s annual nonprofit industry update seminar.
Nonprofit Budgeting: Key Board Roles and Responsibilities and Questions to Ask Prior to Approval
By Hope Goldstein | May 29, 2018
The roles different people play in the budgeting process generally depend on the nonprofit’s size, structure, revenue sources and expenditure expectations.
Developing a Fraud-Free Workplace for the Nonprofit Organization: A Fresh Perspective
By Eric A. Kreuter | Hope Goldstein | September 16, 2015
Fraud is a significant and growing problem for nonprofit organizations, according to a number of sources, occurring more frequently and becoming more costly. According to the 2014 Report to the Nations by the Association of Certified Fraud Examiners (ACFE), nonprofit fraud accounted for 10.8% of total incidents of fraud in 2013, up from 9.6% reported in 2010. Nonprofit organizations lost a median $108,000 per incident in 2013, up from $90,000 reported in 2010. Since many nonprofits are relatively small, the financial impact is often far greater than the dollar amount implies.
This article by Eric Kreuter, partner, Financial Advisory Services, and Hope Goldstein, partner, Nonprofit and Government, reviews the risks (financial, reputational and funding threats), fraud’s origins and the steps an organization should take to strengthen its control environment.