As 2008 draws to a close, all of us at KDV would like to wish our valued friends and clients a happy holiday season and good fortune in the coming year. May laughter, joy and warmth of the season stay with you all year long.

When fiscal sponsorship is right … Becoming — or finding — a fiscal sponsor is the smart thing for a nonprofit to do under certain circumstances. Do you know the difference between being a fiscal agent and a fiscal sponsor? Full Article   Fair game — New accounting standard may affect your financial statement If you thought the new accounting standard that requires organizations to measure assets at fair value doesn’t apply to your nonprofit, think again. It’s likely you’ll need to use it starting with your next financial statement. Full Article   Free or low-cost software offers tech alternatives Does your nonprofit need to compete in this technology-driven environment but there’s one hitch: You just can’t afford it? Don’t be discouraged: Good software can be obtained without spending much money — and in some cases without spending any at all. Full Article News for Nonprofits Coverage includes info on the Uniform Prudent Management of Institutional Funds Act of 2006 (UPMIFA), which is likely to affect your organization if it has endowment funds, and a checklist of preparatory steps for the new IRS Form 990. Full Article