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Jim Quaid, CPA

Jim Quaid, CPA

Author's details

Name: Jim Quaid, CPA
Date registered: January 31, 2011

Contact Information

Phone: 312-670-7444
Fax: 312-670-8301



Jim is Chair of ORBA’s Not-For-Profit Group and his experience includes providing auditing, accounting and tax services for not-for-profit organizations, including charter schools, social service agencies, associations, foundations, and civic and cultural organizations.

Jim’s experience enables him to advise his not-for-profit clients about new funding streams, the best course when looking to provide a new service or program, and effective ways to undertake strategic or operational changes.

Latest posts

  1. All Charitable Deductions are Not Created Equal — September 25, 2017
  2. Avoid Litigation with Attention to Common ‘Red Flags’ — June 6, 2017
  3. Not-For-Profit Group Newsletter – Spring 2017 — May 23, 2017
  4. Eight Tips for Writing, or Revising, a Whistleblower Policy — April 21, 2017
  5. Let’s Play Ball! It’s Time to Step Up to the Plate to Review Fiduciary Status and Fiduciary Duties — November 7, 2016

Most commented posts

  1. The Health Care Tax Credit is Nothing to Sneeze At — 2 comments

Author's posts listings

Sep 25

All Charitable Deductions are Not Created Equal

With the end of the year approaching, your supporters may be thinking about making charitable contributions they can deduct on their 2017 federal tax returns. Here is some information your supporters may find helpful when thinking about different types of donations, some of which are not tax deductible at all.

Jun 06

Avoid Litigation with Attention to Common ‘Red Flags’

Any size retirement plan can run into serious trouble when sponsors are not careful. With some planning, however, a qualified retirement plan can avoid ERISA litigation. This article reviews some of the most common red flags leading to litigation and reminds plan sponsors of the importance of regularly reviewing fees and expenses.

May 23

Not-For-Profit Group Newsletter – Spring 2017

ORBA’s Not-For-Profit Group Newsletter is a quarterly publication focused on effective not-for-profit organization management. The Spring 2017 issue includes two articles: “Using Audit Techniques Can Help You Shape Your Future” and “Newsbits: Spring 2017.’”

Apr 21

Eight Tips for Writing, or Revising, a Whistleblower Policy

Whistleblower policies encourage staff, volunteers and others to discreetly provide credible information on concerns of illegal practices or violations of organizational policies. They protect individuals who risk their careers to report illegal or unethical practices. This article offers eight suggestions for writing or refining an organization’s whistleblower policy.

Nov 07

Let’s Play Ball! It’s Time to Step Up to the Plate to Review Fiduciary Status and Fiduciary Duties

Are you a fiduciary for your company or organization’s retirement plan? If yes, you may find it challenging to “cover all the bases” in understanding your fiduciary duties. Some common duties that get overlooked include failing to identify the plan’s fiduciaries and insufficiently training fiduciaries on their responsibilities.

Jun 29

How to “Score an A” on Your Board Meeting Minutes

Minutes of your board’s meetings may seem like a mere formality; however they are much more than that. Board meeting minutes reflect on your board of directors and your organization’s actions. Savvy not-for-profit organizations do not settle for a passing grade when creating these documents, they go for the “top of the class.” This article discusses some best practices for developing minutes that will document your meetings clearly and accurately.

May 03

Give Employees More Bang for Their Buck: How to More Effectively Use Default Deferral Rates and Auto-Escalation Clauses

According to a Plan Sponsor Council of America survey, only 46% of defined contribution plans automatically enroll participants. The most common default deferral rate for those that do is 3%. Are plan sponsors telling employees that they can afford to retire by saving just 3% of their salary each year? Some participants may think so. This article discusses how to use default deferral rates and auto-escalation clauses to boost participants’ retirement savings.

Oct 05

Cybercrime: Get Ready to Fight Back

Cyber thieves do not physically grab keys or force an entry into a business, but the damage they do to an organization can be just as consequential. If a not-for-profit organization becomes the victim of cybercrime, it could suffer a blow to its reputation that is impossible to overcome. So it is important that a not-for-profit organization assess its risks of data breaches carefully and implement effective security policies and procedures. This article discusses some key considerations.

Aug 24

401(k) Plan Management vs. Fiduciary Duties

Fees charged by record keepers and asset managers for 401(k) plan services paid from plan assets have come under greater scrutiny in recent years. The Department of Labor (DOL) has released fee disclosure regulations, and courts have reviewed high-profile litigation over the issue. The topic is not likely to settle down anytime soon.

Mar 10

Understanding Bonds: What Do Your Plan Participants Know?

Bonds have a place in retirement portfolios. However, recent research suggests that many 401(k) plan participants may have some misperceptions about what that place is — and how bonds perform under various market conditions. This blog reviews the research and suggests that taking the pulse of your 401(k) participants might be a prudent thing to do.

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