Highlights from "Navigating the Legal Minefield: Critical Legal Issues Every SMB CFO Manages"

Five strategic questions for leaders of arts and cultural nonprofits to assess whether their financial operations can support their future work.

by Dorcas Riley, CPA Nonprofit and Social Enterprise Practice Leader A financial assessment offers significant value by identifying strengths, uncovering gaps, and providing actionable recommendations to optimize your finance and accounting functions. Below, I’ve outlined key benefits of this process: Ensures Audit Readiness: We evaluate your financial records, processes, and controls to confirm they meet regulatory and auditor requirements, reducing stress, audit cost, and m

by Dorcas Riley, CPA Nonprofit and Social Enterprise Practice Leader When does it make sense to bring in a fractional CFO or Controller to supplement your team? As the demands on nonprofit finance functions grow sharper, many organizations find themselves at a crossroads. You may find yourself managing: Diverse grants with strict restrictions Declining government support and tighter reporting deadlines Intense pressure to deliver accurate, timely financial reports and insigh

by Gardner Oleson, CPA Technology and General Business Practice Leader In today’s fast-paced tech landscape, CFOs and CEOs of startups and small firms rely on financial analytics to transform raw data into strategic insights. By integrating dashboards, scenario planning, and real-time KPIs into your finance function, you can make faster, smarter decisions that unlock growth. Here are some key points to consider. REAL-TIME DASHBOARDS & KPIs Consolidate data from accounting sys

by Dorcas Riley, CPA Nonprofit and Social EnterprisePractice Leader The recent uncertainty in federal grants presents a significant challenge for nonprofit organizations that rely on this funding to sustain their operations and fulfill their missions. As the Urban Institute recently reported, "95% of all U.S. counties have public charities that receive government grants. In every state, between 60% and 80% of nonprofits that rely on these grants would be at risk of a financia

Recently, Jack McCullough, CFO thought leader, author, Founder and President of The CFO Leadership Council, and member of Charles River CFO’s Advisory Board, presented his perspectives for 2025 to our team. 1. Economic Landscape and Policy Outlook CFO optimism is rising with confidence projected to reach 2021 levels (StrategicCFO360). Pro-business policies at the federal level including lower corporate taxes and deregulation may boost growth. Global trade risks persist and su

Three Key Challenges for Review this Fall As we approach year-end insurance renewals, it's crucial to review three important areas: Directors and Officers (D&O) insurance, clinical trial insurance, and cyber insurance. Early planning ensures your firm is prepared for upcoming changes and challenges. 1. Directors and Officers Insurance D&O insurance has experienced substantial changes since 2020. According to S&P Global, premiums increased by 38% in 2021 and 41% in 2022. Whil

With last week's solstice announcing summer, some adhere to tradition by leaping over bonfires for protection throughout the year. However,

An organization's indirect costs are costs that cannot be directly attributable to a specific product, service or, in this case, grant.

Dorcas Riley joins Charles River CFO as Nonprofit and Social Enterprise Practice Leader and CFO

Seven areas of expertise an insightful CFO brings to a small business.

As a CEO, the decision to hire a Chief Financial Officer (CFO) is pivotal in shaping your company's financial trajectory and overall success. When interviewing a potential CFO candidate, consider their professional experience, strategic outlook, and vision for the role. Here are five key topics to raise in an interview and what to anticipate from their responses: 1. Professional Experience and Track Record: Look for a seasoned CFO with a robust background and a track record o

With a tight job market, declines in charitable giving, and inflationary pressures, 2024 presents concerns for nonprofit leaders, especially CFOs. In a recent Forbes article featuring an executive survey on top risks, CFOs highlighted talent, economic uncertainty, and cyber as top risks. Nonprofit CFOs recognize the pivotal role of talent in navigating risks and opportunities to advance the organization’s mission and goals. Strategies for Nonprofit Resilience & Risk Managemen

Charles River CFO, recently presented at the Mass Nonprofit Network's annual conference on October 19th. The presentation, "Demystifying Financial Statements," shed some great insights into what all those numbers mean.

5 Tips for Cost-Efficient Audit Readiness by Gardner Oleson, Technology and Manufacturing Practice Leader 1. Make sure the firm you hire is qualified to do the work. If they are not experienced as auditors themselves, it is highly unlikely they will understand the issues your auditors face. 2. Avoid audit adjustments. If you hire a qualified firm for audit readiness, you may avoid expensive and time-consuming adjustments during the auditing process. Delivery of audit readin

The Imperative of Compliance by Year End Is your company in compliance? The rules and regulations can seem overwhelming and complicated. Charles River CFO (CRCFO) has experienced Human Resource Advisors ready to perform an audit and get your company in compliance. Highlights Form I-9 Verification has changed effective 2023 Employees hired since March 20, 2020 need documents confirmed physically Verification compliance deadline is December 31, 2023. A recent Federal mandate r

There’s a reason your numbers aren’t quite right . . . But what is it? Talent? Technology? Processes? Or maybe a combination of all three? Charles River CFO's financial experts know where to look to uncover accounting trouble spots. With a financial and accounting assessment, you get a thorough, objective, third-party review that tells you exactly what’s going on with your numbers, plus detailed, actionable recommendations to get you back on track. The solution begins wi

The role of a nonprofit CFO has never been a simple one. It requires agility, strategic thinking & understanding of challenge

We want to share some tips and strategies for employee engagement and talent acquisition.