FMC Technologies Fined $2.5M Over Accounting

FMC Technologies | October 21, 2016

Energy technology company FMC Technologies has agreed to pay $2.5 million to settle charges that it overstated the profits of one of its business segments by reducing the value of the liability it recorded for employee paid time off.
The U.S. Securities and Exchange Commission said two former FMC executives — Jeffrey Favret, the controller of the firm’s energy infrastructure segment, and his subordinate Steven Croft — manipulated the PTO liability to meet internal targets.

Spotlight

This year there are increasing macroeconomic headwinds on the horizonaltogether. As we continue to operate in an uncertain environment this will undoubtedly increase the importance of the work of charities in our society. In this publication, we consider these headwinds, and the sector risks they present as well as the opportunities and practical considerations for charities. A particular focus will be on climate change and how charities can develop their response in this area. We also review wider developments in the charity world, including in relation to specific risks and external audit, as well as in the areas of tax and VAT.


Other News
NONPROFIT MANAGEMENT

Exceptional Children's Foundation Names Veronica Arteaga President and CEO

Exceptional Children's Foundation | May 27, 2022

The Exceptional Children's Foundation (ECF) Board of Directors has announced the appointment of Veronica Arteaga, LCSW as President and CEO. Arteaga will join the nonprofit human services organization effective June 1st, succeeding Scott D. Bowling as ECF's third President and CEO in its 76 years of service. She will be responsible for leadership of ECF's 15 service sites throughout Los Angeles County, 375 employees, a 20 member board of directors, and the provision of service to more than 5,000 children and adults with special needs and their family members annually. We are delighted to welcome Veronica to ECF. She is a passionate, innovative leader with a collaborative approach and a track record of strategic success in organizational systems and service delivery. We look forward to the contributions of her leadership in the ongoing service and impact of our founding mission." Steve Beltran,ECF Board of Directors Chair Arteaga brings more than 15 years of experience leading and providing social services, having previously served as Chief Program Officer for Wayfinder Family Services, and Vice President, Housing Programs for St. Anne's Family Services in Los Angeles. She is a licensed clinical social worker and is pupil personnel services credentialed (K-12 counseling), and is a graduate of the Executive Leadership Institute. She holds a Master of Social Work from University of Southern California, and a Bachelor of Arts in Psychology from the University of California, Santa Cruz. "Exceptional Children's Foundation has a rich history and longstanding reputation for successful stewardship and innovation in advancing person-centered services for children and adults challenged with developmental, learning and emotional barriers," said Arteaga, adding, "I am humbled to follow in the footsteps of the organization's founding President, Dr. Robert Shushan and my predecessor Dr. Scott Bowling, who have advanced the ECF mission for 76 years, and am excited to join in this tradition of leadership for the future of the community we serve." About Exceptional Children's Foundation The Exceptional Children's Foundation (ECF) was created in 1946 by a group of concerned parents who pooled their resources to create a daycare program for children with developmental disabilities. Over 76 years, ECF has evolved into a nationally-recognized organization serving more than 5,000 people with developmental disabilities and their families annually from 15 program sites, in homes and in the community across Los Angeles County. ECF is the only organization of its kind in California to provide a lifespan of services for children and adults challenged with developmental, learning and emotional barriers—empowering them to reach their greatest potential.

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FUNDRAISING

Community Brands Collects 7 TrustRadius Top Rated Awards

Community Brands | May 16, 2022

Community Brands, the leading provider of cloud-based software and payment solutions for associations, nonprofits, and K-12 schools, earned seven 2022 Top Rated Awards from TrustRadius with multiple accolades for both its GiveSmart and MIP Fund Accounting brands. GiveSmart, the leading fundraising management system for nonprofits and schools, earned four Top Rated Awards, receiving acclaim in the Nonprofit Fundraising, Event Management, Virtual Event, and Donor Management categories. The recognition for its Event Management and Virtual Event solutions marked GiveSmart's second consecutive year with Top Awards in the two categories. GiveSmart's Top Rated Award for Donor Management came before the full implementation of SimplyFundraisingCRM, which it acquired in March to further strengthen its powerful platform. These awards are based directly on feedback from their customers. TrustRadius reviewers highlight GiveSmart's ease of use and scalability for larger events, as well as their helpful support staff."  Megan Headley, VP of Research at TrustRadius MIP Fund Accounting, the nation's leading nonprofit cloud-based, SaaS fund accounting software, took a trio of Top Rated Awards for Nonprofit Accounting, Accounts Payable, and Expense Management. After earning the 2022 Most Loved Award earlier this year, MIP repeated its 2021 Top Rated awards in the Accounts Payable/Accounts Receivable and Expense Management categories. MIP, currently celebrating its 40th anniversary, continues to build on a history of excellence. In 2021, it garnered three Best of Awards for Feature Set, Support, and Usability attributes. "MIP reviewers on TrustRadius value the custom reporting that improves their organization's flexibility and experience with external audits, along with reliable customer support," added Headley. Since 2016, the TrustRadius Top Rated Awards have become the B2B's industry standard for unbiased recognition of technology products. Based entirely on customer feedback, the awards have never been influenced by analyst opinion or status as a TrustRadius customer. This year's Top Rated Awards program assessed 60,000+ customer reviews and chose software product winners across 501 technology categories. GiveSmart and MIP Fund Accounting by Community Brands are proud to create products that inspire such gracious feedback in our user communities. About Community Brands  Community Brands is the leading provider of cloud-based software and payment solutions to associations, nonprofits, and K-12 schools powering organizations to engage the people they serve through programs and events, raise funds to enable their mission, and manage their financial operations. The Community Brands portfolio provides the industry's most complete set of software solutions for nonprofits and K-12 schools of all sizes with purpose-built award-winning solutions. Community Brands' products are bound by a common purpose to serve the organizations that make communities a better place to live. About GiveSmart  GiveSmart is a mobile bidding, fundraising, event management, and donor management software. Our mission is to help nonprofits, schools, and foundations reach their fundraising goals while creating an engaging, exciting, and easy giving experience for their donors. All. Year. Round. GiveSmart has helped our partners raise over $5.4 billion. About MIP Fund Accounting  MIP Fund Accounting is accounting for your nonprofit's future. Designed to track unlimited funds and manage your financial books with ease, MIP is the nation's leading cloud-based, SaaS fund accounting solution for nonprofits, K-12 schools, healthcare organizations, and government organizations across the country. Our software handles the intricate financial process in a streamlined, user-friendly system. Manage your nonprofit's finances, track every fund, and follow every dollar. About TrustRadius TrustRadius is the most trusted research and review platform for business leaders to find and select the right software for their needs. Decision-makers across industries rely on verified, peer-based guidance and research from TrustRadius. Vendors engage and convert high-intent buyers by telling their unique stories through rich reviews. Over 12 million visitors a year create and engage with high-quality review content and data on Trustradius.com. Headquartered in Austin, Texas, TrustRadius was founded by successful entrepreneurs and is backed by Mayfield Fund, LiveOak Venture Partners, and Next Coast Ventures.

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FUNDRAISING

SpartanNash Foundation Hosts In-Store Fundraiser to Benefit Military Heroes

SpartanNash | July 01, 2022

Food solutions company SpartanNash is proud to join forces with store guests in its annual companywide fundraising campaign to support military servicemembers, veterans and their families. As part of a commitment to serve those who bravely serve, the SpartanNash Foundation fundraiser will run from June 29 to July 10. All money raised will be divided evenly between three nonprofit organizations – Team Red, White and Blue, Operation Homefront and Honor and Remember – providing critical funding. “Our partner organizations go above and beyond every day to serve our troops, veterans and their families who have given so much, many who have been seriously injured or have paid the ultimate sacrifice,” said Senior Vice President and Chief Customer Officer David Sisk, who oversees SpartanNash Military (formerly MDV), a division of the Company and a leading distributor of grocery products to U.S. military commissaries and exchanges worldwide. “We see firsthand the sacrifices our servicemen and women – and their families – make to protect our freedoms every day, and this is an impactful and meaningful way we can continue to support our American heroes regardless of where they live or the care they need within the community.” The three organizations benefiting from this fundraiser support the military community in a variety of ways, including physical and social activity, providing critical financial assistance and family services and honoring those who lost their lives defending American freedoms. “We are able to deliver upon our mission to build strong, stable and secure military families because of the steadfast commitment of supporters like SpartanNash,” said Operation Homefront Chief Revenue Officer Margi Kirst. “SpartanNash allows us to be there for our fellow Americans in their time of need after all they have done for us in our nation’s time of need.” SpartanNash has consistently been on the patriotic forefront of recognizing and identifying the needs of the military community. Through our partnership, we can broaden the message to thousands more who may or may not understand that freedom comes at a very high price.” George Lutz, founder and executive director at Honor and Remember Store guests who visit any participating SpartanNash-owned retail store or fuel center during the fundraising period will have the opportunity to donate $1, $5 or $10 at any checkout lane, or round their total up to the nearest dollar to support the three patriotic partners. Customers, and others interested in participating in this fundraising campaign, can also donate online through Fast Lane. Since 2015, the SpartanNash community has provided $1.75 million in donations to patriotic partners through the SpartanNash Foundation, benefiting veterans service organizations such as Give an Hour, Fisher House Foundation, Blue Star Mothers of America, Inc. and Disabled Veterans National Foundation, in addition to its trio of patriotic partners for 2022. SpartanNash also proudly hires veterans and military-connected Associates as a military-friendly and veteran-friendly employer. About SpartanNash SpartanNash is a food solutions company that delivers the ingredients for a better life. As a distributor, wholesaler and retailer with a global supply chain network, SpartanNash customers span a diverse group of national accounts, independent and chain grocers, e-commerce retailers, U.S. military commissaries and exchanges, and the Company's own brick-and-mortar grocery stores, pharmacies and fuel centers. SpartanNash distributes grocery and household goods, including fresh produce and its Our Family® portfolio of products, to locations in all 50 states, in addition to distributing to the District of Columbia, Europe, Cuba, Puerto Rico, Honduras, Iraq, Kuwait, Bahrain, Qatar, Djibouti, Korea and Japan. In addition, the Company owns and operates 148 supermarkets - primarily under the banners of Family Fare, Martin's Super Markets and D&W Fresh Market - and shares its operational insights to drive innovative solutions for SpartanNash food retail customers. Committed to fostering a People First culture, the SpartanNash family of Associates is 17,500 strong and growing.

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FUNDRAISING

Givebacks Selects Wildfire Systems' White Label Rewards Platform to Drive Nonprofit Fundraising

Wildfire Systems | May 18, 2022

Wildfire Systems Inc., an innovative financial technology platform that powers reward programs and shopping companions, today announced that Givebacks is harnessing the power of Wildfire's white label rewards platform to fuel fundraising initiatives for over 1 million 501(c)(3) nonprofit organizations. Givebacks is leveraging Wildfire's cashback rewards technologies to create programs for nonprofits to earn a share of the e-commerce purchases made by their supporters. This approach to fundraising automatically provides causes with 1% of each shopper's online purchase and allows consumers to donate additional cashback funds from purchases made at tens of thousands of brands in Wildfire's global merchant network. "We're excited to work with Givebacks to help nonprofits achieve their fundraising goals," said Jordan Glazier, CEO, Wildfire Systems. "This novel use of our platform allows people to easily support their favorite causes simply by shopping online while using the Givebacks desktop and mobile extensions powered by Wildfire." Our partnership with Wildfire has allowed us to create an entirely new way for nonprofits to scale passive fundraising efforts, generating regular donations from their supporters, which we call Backers. With more than 25,000 merchants to earn shopping rewards from, we've made it simple for Backers to receive cashback on their purchases, which benefits them as well as the cause they've chosen to support. The Wildfire rewards platform allows Givebacks to reach more people and raise more funds for organizations such as PTAs that depend on donations from small donors." Robert Costa, COO, Givebacks Wildfire's enterprise platform allows partners such as Givebacks, as well as banks, fintechs, and technology companies to deploy turnkey rewards programs with a suite of offerings including cashback offers, coupons, and turnkey shopping assistants across all mobile and desktop interactions. About Wildfire Systems, Inc. Wildfire Systems provides an enterprise platform which enables clients to embed social commerce, cashback rewards, digital coupons, and shopping companions within their existing services. Wildfire's patented suite of technologies rewards online shopping and harnesses digital word-of-mouth, delivering enhanced user experiences, consumer loyalty, and new revenue streams for clients. Wildfire drives incremental revenue for over 50,000 online merchant programs in over 50 countries. The company is based in San Diego and was founded in 2017.

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Spotlight

This year there are increasing macroeconomic headwinds on the horizonaltogether. As we continue to operate in an uncertain environment this will undoubtedly increase the importance of the work of charities in our society. In this publication, we consider these headwinds, and the sector risks they present as well as the opportunities and practical considerations for charities. A particular focus will be on climate change and how charities can develop their response in this area. We also review wider developments in the charity world, including in relation to specific risks and external audit, as well as in the areas of tax and VAT.

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