Kintera (MM) (NASDAQ:KNTA)
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From Jul 2019 to Jul 2024
Nonprofits facing potential financial regulatory
compliance can now learn best practices in stewardship. Kintera(R)
Inc. (NASDAQ:KNTA) today released a new white paper -- "Proactive
Strategies: Accountability, Transparency & Fraud Prevention in
Nonprofit Organizations." Available from Kintera FundWare(R), the
white paper can be downloaded at
www.fundware.com/accountabilityreport.
Accountability, transparency and fraud prevention have become
increasingly important for nonprofit organizations that may in the
future face regulations similar to the Sarbanes-Oxley regulations
applicable to publicly traded companies. The white paper highlights 18
proactive steps that nonprofit executives can take to accommodate
changing expectations in the financial arena and ensure they are using
best practices.
Sponsored by Kintera Fundware, the white paper was written by
Peter Brinckerhoff, president of Corporate Alternatives Inc., a
publication, training and consulting organization for nonprofits, and
author of eight books on nonprofit management. Key recommendations
from the report include:
Accountability
-- Develop mandatory document retention policies.
-- Make sure your independent audit firm rotates the lead partner
no less than every five years.
Transparency
-- Develop financial reports that are specific to staff areas of
responsibility.
-- Each year, post your 990 and 990T reports on your Web site
homepage.
Fraud Prevention
-- Separate duties in relation to cash, checks and checkbook
reconciliation.
-- Have the nonprofit organization's CEO or COO sign the 990.
"Nonprofit organizations face increasing scrutiny from the press,
donors and general public. It's important for them to be armed with
the recommendations necessary for open, accountable and prudent
financial policies and reporting," said Harry Chiu, vice president and
general manager of Kintera FundWare. "Kintera Fundware is committed to
providing the information and technology to improve accountability,
transparency and fraud prevention -- without increasing workload for
nonprofit accounting teams."
To download the free report, visit
www.fundware.com/accountabilityreport. To learn more about Kintera
FundWare fund accounting software, visit www.fundware.com.
About Kintera, Inc.
Kintera(R), Inc. (NASDAQ:KNTA) provides an online solution to help
nonprofit organizations deliver The Giving Experience(TM) to donors --
including giving convenience, financial transparency, feedback about
the social impact of their gifts, and a sense of belonging and
appreciation.
More than 15,000 accounts in the nonprofit, government and
corporate sectors use Kintera's "software as a service" innovations,
including the Friends Asking Friends(R) fundraising program and
Kintera Sphere(TM), an enterprise-grade software platform that
provides a secure, scaleable and reliable system for customer
relationship management (CRM), a web content management system (CMS),
eMarketing and directed giving applications. Additionally, Kintera
FundWare(R) provides award-winning financial management software
developed for nonprofit organizations and governments.
Kintera also provides the Kintera GivingFund payment option
offering donors Internet convenience for initiating grant requests
from their Donor Advised Funds (DAF). Organizations sponsoring donor
advised funds as well as recipient nonprofits and foundations are now
able to provide improved customer service to philanthropists through
this new, innovative way to make major gifts online. A one-time DAF,
CharityGift(TM), is available for purchase at Kintera's The Giving
Communities(TM) interactive website at www.kintera.org. The site is
also a destination for consumers to connect with thousands of causes
and organizations.
For more information about Kintera's software and services, visit
www.kintera.com.
Kintera, Kintera Sphere, Friends Asking Friends, The Giving
Experience, The Giving Communities, GivingFund, CharityGift, and
FundWare are either registered trademarks or trademarks of Kintera,
Inc. in the U.S. and/or other countries.
Forward-Looking Statements
In addition to historical information, this press release contains
forward-looking statements (including, without limitation, express or
implied statements regarding the adoption of software solutions by
nonprofit organizations) that involve risks and uncertainties. These
forward-looking statements represent our estimates and assumptions
only as of the date hereof. These statements reflect our current views
with respect to future events and are based on assumptions and subject
to risks and uncertainties. These statements involve known and unknown
risks, uncertainties and other factors which may cause our actual
results, performance or achievements to be materially different from
any future results, performances or achievements expressed or implied
by the forward-looking statements. These risks and uncertainties
include, without limitation: our limited operating history; our
history of losses; our dependence on increased acceptance by nonprofit
organizations of online fundraising; lengthy sales cycles for major
customers; our need to manage growth; risks associated with accounting
for and processing large amounts of donations; the rapidly changing
technologies and market demands; and other risks identified in our
filings with the Securities and Exchange Commission. Given these
uncertainties, you should not place undue reliance on these
forward-looking statements.