Credit card control has become a hot topic for many organizations — particularly our not-for-profit (NFP) clients. As an NFP, you have a unique responsibility to protect your tax-exempt status, comply with allowable expenses and steward donor funds. Credit card use (or misuse) has the potential to impact both the financial and reputational integrity of your NFP.
Our Independent Schools Team recently conducted a study of credit card control risks and best practices. The below articles provide their findings and insight:
- Swipe Smart: Credit Card Control Risks for NFP Organizations
If your organization uses credit cards, it will by default assume certain risks of use. This article identifies those risks and offers strategies to mitigate them.
- Swipe Smart: Credit Card Control Best Practices for NFP Organizations
Formal card policies, routine reviews and automated administration/control platforms can help organizations strengthen oversight, improve accountability and reduce the risk of misuse. Explore these best practices.
Contact Us
We invite you to learn more about the services we can offer your organization by visiting the Not-for-Profit Organization Accounting and Consulting page. If you have any questions, please contact your PKF O’Connor Davies client service team or:
Michael Talt, CPA
Manager, Not-for-Profit Practice
mtalt@pkfod.com | 914.341.7036
Nina Balke
Supervisor, Not-for-Profit Practice
nbalke@pkfod.com | 646.449.6338