Grants and contributions – rather than earned income from contracts with customers – make up the majority of income for many nonprofit organizations, so it is not surprising that the new clarifying standard for contributions received and made will have a wide-ranging impact. This blog is the second part of our blog series covering the implementation considerations of [...]

Originally published in Small Business Today Talent and client expectations in the workforce are changing significantly. Millennials continue to make up a majority of the workforce and their need for work-life balance is driving innovation and influencing the future of the industry. In fact, an article by ADP shows that work-life integration is changing the workplace [...]

Originally published in Philanthropy Journal News Many nonprofits serve diverse communities, and it makes sense for their staff to be a reflection of community they serve. However, in a study that interviewed over 200 nonprofit CEOs conducted by The Center for Effective Philanthropy, 70 percent of CEOs stated that it was important to have staff diversity, but just 36 [...]

The evolution of the traditional workforce has made a significant impact on how GHJ (GHJ) finds and retains top talent. With this evolving workforce, GHJ had two options: 1) resist and risk losing great talent or 2) lean into and embrace the changes. GHJ chose to embrace those changes, and the first step was to collaborate with The Mom Project. The Mom Project is rew [...]

The third blog in our series of consulting case studies takes a look at an unusual situation for four businesses going to market as one company and discusses how GHJ’ Consulting Team assisted in converting their financial statements to reflect as if they had operated as one. Recent work with this client involved: Assembling one set of financial statements from four d [...]

It takes planning and effort to bring in new board members, but what happens after they are voted in? At a recent Board meeting I attended, members were thrilled to vote in two new impressive members. Both bring skills and expertise that the Board had identified as needs, namely public policy and medical expertise. This brings the total new Board members in 2019 to si [...]

Originally published in HLB Insights There are many reasons why a business will operate on an international scale. Whether it is to generate additional revenues, gain exposure to foreign investment opportunities or to hedge against local market risks, there are many advantages to operating beyond domestic borders. However, as companies grow, so does the IT infrastr [...]

Highlighted in the recent New York Times article “The Rise of the Virtual Restaurant,” author Mike Issac and David Yaffe-Bellany discussed the rise of ghost kitchens and the current disruption that food delivery is causing in the food and, in particular, the restaurant industry. Food delivery apps like Uber Eats, DoorDash and Grubhub are reshaping the $863 billion Am [...]

On Sept. 11, 2019, the California Senate passed legislation under AB-5 to codify the California Supreme Court decision in Dynamex and clarify application of the ruling. On Sept. 18, 2019, Governor Newsom signed the bill into law. This bill affects all industries that regularly engage independent contractors. The ruling and new state law puts pressure on companies that [...]

Most companies are “elbows deep” in implementing the new revenue recognition standard. The new standard, ASC 606 - Revenue from Contract with Customers (which the FASB has been working on since 2014) represents the most significant change in accounting methodology in the past 20 years. The new standard is effective for private companies with annual periods beginning a [...]