Do you actually know if all of your chapters filed their 990s last year? Without TONS of manual work to track them down, you might not know the answer to this. We built out a tool to automate the 990 data collection process. Join us to see how it works. View Slides >>
Why would Headquarters/National collect 990’s from chapters?
- Commitment to competence
- Risk identification
- Financial risk
- Integrity and ethical values
- Tax exempt status
- Member trust
In an economic climate that makes every dollar precious, no organization wants to lose 5% of its annual revenue to fraud. In its 2016 Report to the Nations on Occupational Fraud and Abuse, the Association of Certified Fraud Examiners found that the typical organization, no matter its size, loses a median of $150,000 from a single case of occupational fraud. In fact, 80% of companies said they experiences fraud in past years.
Tips on Spotting Fraud
- Have they reported it?
- When you ask questions about financials do you get straightforward answers?
- Do the numbers seem off?
- Does a third party complete it’s tax filing?
- When’s the last time the chapter was audited?
What Can You Do With the Data? #LeverageIt
Are you leveraging information from their 990s to determine health of the chapter? Are there any red flags on their 990s that you should be tracking or be aware of? Peter Algyer, Senior Manager of Volunteer Relations at GBTA shares:
It’s not about pointing out faults or failures. It’s aboutidentifying areas of improvement and ways that we can work together so everyone is elevated in their performance.
Trends across your chapters and how you can use the data once you get access to it. Here’s 5 tips on how to successfully leverage your data:
- Demonstrate the results
- Tell chapters how you used it
- Create a benchmark report
- Develop resources on what you learned
- Encourage improvement
- Understand: Understand the top reasons why to collect chapter 990s
- Educate: Educate your chapters on how to spot fraud and prevent it
- Identify: Identify areas of improvement and ways to elevate your chapters