During this webinar we will be discussing the topic of functional expenses. You can expect to learn best practices related to working with direct and indirect functional expenses. You should walk away understanding there are options available when determining how to allocate indirect functional expenses and feeling equipped to make your audit and tax preparation flow more smoothly. We also will touch on the importance of properly detailing natural classifications in addition to conveying that correct financial information made available to your board and to the public is important for the long-term growth and security of your organization.
Learning Objectives:
- Identify common functional expense allocation errors.
-Describe how misidentifying functional classifications can lead management to make poor or miscalculated decisions regarding the future of a program.
- Explore the notion that many long-term donor’s have become savvier and are not as interested in a very low Management percentage.
- Assess some best practices related to working with direct and indirect functional expenses, helping to make your audit and tax preparation flow smoothly.
- Examine the importance of making financial information available to the board and to the public based on the allocation of expenditures.
- Recognize what most don't know they can do with allocations.
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