Yeah, *I* actually know all that; peace. I wasn't trolling :) I used to volunteer for a nonprofit and had a spouse who was an accountant. This was in the UK and Scandinavian countries, though, and my observation was related to it being more costly in the US--strenuous auditing is not a legal requirement in all European countries for nonprofits, either, so that was the perspective I was speaking from.
But it's good that you pointed all of that out--something that can, again, be used to enlighten the, erm, less enlightened about just where all the donation money goes.
Yeah, I'm UK-based, so I'm more familiar with those requirements - here, it's any charity with income over £25,000 that has to have some kind of external examination of their finances, which usually means getting an independent party to do the accounts, but not necessarily an audit. And then over £250,000 requires an audit. I'm uncertain what the thresholds are for auditing in the US (and from what I've learned about accountancy and tax in the US, it varies by state - I do not envy US-based accountants and auditors), but... yeah, it's not like the OTW is wasting money on it. If they're over the income threshold in the state they're registered in, it's a legal requirement, and they'd be breaking the law by NOT doing it.
Yeah, again, I know--I apologise if anything in my message made it look like I didn't. But going further into the cost issue would get political on my part, and I'd better not right now.
Comment on OTW Finance: 2019 Budget
Snowgrouse Fri 05 Apr 2019 09:49AM UTC
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KtrenalWinterheart Fri 05 Apr 2019 12:16PM UTC
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Snowgrouse Fri 05 Apr 2019 01:23PM UTC
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