CPAs and Advisors with Your Growth in Mind


Campuses Adding Amenities to College Life Experience

As college enrollment increases, campuses are updating their facilities with amenities that reflect a higher standard of living. Some universities, for example, now have leisure pools, expanded wellness centers and added plasma televisions in dorms. In researching the trend and its impact on enrollment and studies, University of Michigan’s Brian Jacob concluded, “We found that the lower ability students and higher income students have a greater willingness to pay for these amenities. The more academic, high achieving students cared about intellectual achievement.” For more on the college amenities story , visit the FORBES website. Our Education industry page also has information on how we. Read More.


Ivy League Schools Outspend Public Universities

In a recent article, FORBES examined the higher education institutions that make up half of the nation’s endowment wealth. Out of the 22 that made the list, eight were Ivy League schools that constitute 21 percent of the endowment assets. Based on this information and factors like federal subsidies for research, FORBES estimated that the list’s top two schools, Harvard and Yale, spent $96,000 per student during the 2011-2012 academic year. Conversely, four-year state schools spend less than $25,000 on each student. The top ten schools on the list are as follows: Harvard University Yale University University of Texas System. Read More.

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Sallie Mae Releases Annual College Report

Last week, Sallie Mae issued the results from its “2013 How America Pays for College” report. Surveying 800 parents and 800 undergraduate students, the lender reviewed how U.S. families managed the growing cost of higher education. Based on the findings, it was determined that 22 percent of the cost of college was borrowed by U.S. families last year. The percentage marks a five percent drop from the past two years, and is being contributed to families using savings, income, tax credits, and/or accelerating studies as reasons behind the trend. For the complete story , visit the Financial Advisor site. Also learn about. Read More.

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New Form 1023-EZ Issued by the IRS

Providing a new streamlined process for smaller organizations, the Internal Revenue Service (“IRS”) Exempt Organizations Division has released a shorter, easy-to-use tax-exempt application form. The application, Form 1023-EZ, Streamlined Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code, reduces the IRS’ workload by focusing on information essential to determining an organization’s exempt status and lowering application backlog. Due to the simplified form, it is anticipated that up to 70 percent of applicants will qualify for the tax exemption. For the full story on Form 1023-EZ , check out the American Institute of Certified Public Accountants’ blog. To learn about Cherry Bekaert’s. Read More.

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Website Offers Detailed Illustration of College Graduation Rates

In its search for a thorough yet accurate representation of graduation rates, the website Student Achievement Measure recently posted the outcomes of full-time freshmen enrolled in 2007. Using data from 266 colleges and universities, the report focused on the graduation rates of such students, if they completed a degree after transferring to another school, whether or not they dropped out, and which ones were still enrolled. Per the data, dozens of public universities reported less than half of their full-time freshmen in 2007 received a degree within six years or after transferring to another school. For the full report, visit. Read More.

Nonprofits Slow to Implement Enterprise Risk Management

Based on a recent survey by the North Carolina State University’s ERM Initiative for the American Institute of CPAs, only 13 percent of nonprofits have implemented a formal enterprise risk management (ERM) process. Conversely, 52 percent of public companies and 43 percent of financial services companies surveyed have employed an ERM. Addressing the low rate at a nonprofit conference last month, WeiserMazars consulting partner Bob Cummings identified six ways nonprofits can execute and maintain ERM: Have a risk management governance structure; Follow a risk management framework; Continuously identify risk and the risk event universe; Create and manage a risk profile;. Read More.

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