About Laura Reifschlager

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So far Laura Reifschlager has created 17 blog entries.

New Year, New Rules: Tax Act Implications for Nonprofits


The long-awaited tax legislation, formally known as the Tax Cuts and Jobs Act, enacted December 22, 2017, is hailed as “sweeping” reform by some. While you may wish you could just “sweep” it under the rug and keep rolling, nevertheless, this is a new year and there are new rules.   
Payroll Impact 
Just as the Tax Relief …

Check Tampering: Is Your Nonprofit At Risk?


A True Story
What would happen to your mission if you lost $1 million from your budget? That’s exactly what happened to Mountain State Justice, a nonprofit organization that provides legal advocacy to low-income West Virginians.

In April of this year, a former Mountain State Justice office manager was sentenced to 54 months in prison for embezzling …

Typical Nonprofit Fraud Schemes: What to Look For and How to Prevent Them


I once worked at a chemical plant. Plants and manufacturing facilities typically have guard gates employees walk through – both entering and exiting – and all items, such as lunch boxes and purses, are subject to search. An employee of that plant frequently left through the gate with a tarp-covered wheelbarrow.

The guard dutifully checked …

Red Flags: Top Indicators Your Nonprofit Might be Victim to Fraud


Some $6.3 billion in total losses; nearly one-quarter of cases lost $1 million or more; with $150,000 medial loss per case.

These are just some of the alarming statistics revealed in the 2016 global fraud study, “Report to the Nations on Occupational Fraud and Abuse,” released by the Association of Certified Fraud Examiners.

Could this be your …

Profile of a Nonprofit Fraudster


The headlines reflect these realities: Ex-Mountain State Justice Office Manager Admits Stealing More Than $1.5 million; Trusted Assistant Steals $365,000 from Not-for-Profit; Comptroller, Horse Lady and Crook.

Nonprofit organizations – generally established for benevolent purposes – fall prey to fraud at an alarming rate. The 2016 global fraud report, Report to the Nations on Occupational Fraud and Abuse, released …

Nonprofit Fraud Facts From the 2016 Global Fraud Study


I once worked at a big box home store during a Christmas season. My biggest surprise was how many people steal and how clever they can be with their deception.

Fraud for nonprofits is even more devastating. Bad publicity and possible loss of funding are consequences of nonprofit fraud. In 40 percent of fraud cases, …

Are Internal Controls Really Necessary at Nonprofits?


I once had the responsibility of auditing a $10,000 petty cash fund, monthly.  The cash was kept locked in a safe in the supply closet. The clerk responsible for reimbursing expenses to employees watched me as I counted the cash and added up the receipts, a task she considered a great waste of her time …

How to Obtain a Top-Notch Audit


“The auditors are coming! The auditors are coming!” The news is not quite as harrowing as “The Redcoats are coming!” was to American Revolutionaries, but as an employee of a nonprofit that’s being audited – your palms will sweat! The presence of auditors in the workplace is, at a minimum, a disruption of your workflow.  …

Creating a Paperless Workplace


As you sit at your cubicle with piles and piles of paperwork that make you feel more effectively buried than an ancient artifact, you have to wonder, what happened to the paperless office?

Wasn’t there supposed to be a revolution that eliminated unnecessary waste?

Since a 1975  article in Business Week  quoted George E. Pake, then …

Cutting Through the Legalese of the Affordable Care Act


Passed into legislation in March 2010, the Patient Protection and Affordable Care Act (PPACA) – more commonly known as the Affordable Care Act (ACA ) – contains the most sweeping reforms of the United States healthcare system since the 1965 passage of Medicare and Medicaid. The reforms, intended to increase the quality and affordability of …