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Charles J. Burke, CPA

Charles J. Burke, CPA

Author's details

Name: Charles J. Burke, CPA
Date registered: August 22, 2012

Email: cburke@orba.com
Website: http://www.orba.com

Biography

Charlie is a member of ORBA’s Not-For-Profit Group and chairs its Education Subgroup. He has more than ten years of experience providing audit, accounting and tax services to a diverse group of clients, including privately-held companies, not-for-profit organizations and individuals. He is a senior manager on many of the not-for-profit client engagements.

Latest posts

  1. Making Sense of FASB’s New Accounting Standard for Not-for-Profit Organizations — December 5, 2016
  2. DOL Addresses Worker Classification and Overtime Rules — December 22, 2015
  3. Not-For-Profit Group Newsletter – Winter 2015 — January 15, 2015
  4. Tips for Preventing Fraud in Your Organization — June 11, 2014
  5. The Role of the Audit Committee — November 26, 2013

Most commented posts

  1. Not-For-Profit Group Newsletter – Summer 2013 — 1 comment
  2. The Role of the Audit Committee — 1 comment

Author's posts listings

2016
Dec 05

Making Sense of FASB’s New Accounting Standard for Not-for-Profit Organizations

The FASB recently released its first update to the financial reporting rules for not-for-profit organizations since 1993. The new Accounting Standards Update (ASU) No. 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities, will affect the financial statements of most organizations when it takes effect. This article explains the standard’s new net asset classes, how liquidity and available resources reporting has changed and the new requirements for reporting expenses and investment return.

2015
Dec 22

DOL Addresses Worker Classification and Overtime Rules

The U.S. Department of Labor (DOL) recently addressed the hot button topics of worker classification and overtime pay. This article sheds light on the DOL’s new guidance on independent contractors, how proposed overtime rules could hike employee costs and how awareness of these updates by the DOL is of importance, particularly with a new calendar year on the horizon.

2015
Jan 15

Not-For-Profit Group Newsletter – Winter 2015

ORBA’s Not-For-Profit Group Newsletter is a quarterly publication focused on effective not-for-profit management. The Winter 2015 issue includes two articles, Move Over Expense Ratios and Not-For-Profit Newsbit: Simple and Secure.

2014
Jun 11

Tips for Preventing Fraud in Your Organization

Fraud does not just hurt a not-for-profit profit’s bottom line — it also could do devastating damage to its reputation. This article discusses how, by implementing some simple controls, an organization can help protect itself from these risks. These controls involve segregation of accounting duties, fraud awareness training for all employees, establishment of a fraud hotline and risk assessment.

2013
Nov 26

The Role of the Audit Committee

Public companies are required to have an audit committee (due to the Sarbanes-Oxley Act of 2002), and while not required, many not-for-profit organizations have also started their own committees as well. In order for an audit committee to be successful, both the organization and committee members must develop and fully understand the committee’s role and responsibilities.

2013
Jul 11

Not-For-Profit Group Newsletter – Summer 2013

Summer 2013 Online Resources For Exempt Organization Information By: Charles J. Burke, CPA A vast array of exempt organization information is widely available on the internet, however as we all know, not all information is created equal, especially on the World Wide Web. Finding accurate and relevant information from reputable sources is integral for potential… Continue reading »

2012
Aug 23

Illinois Department of Human Services Financial Reporting

It’s Illinois Department of Human Services (DHS) reporting season for many DHS-funded Community Service Providers. At the end of May, DHS issued their FY12 Memorandum to Chief Executive Officers outlining fiscal year-end financial reporting.