Bob Mims, CPA: Published Articles
Welcome to the website of Bob Mims, CPA.
Bob Mims, CPA has written for The Journal of Accountancy, The Land Trust Alliance “Saving Land,” and The NonProfit Times. You can find a brief overview of some of his selected works below.
The Journal of Accountancy
Strategic Planning for NFP’s Nov 2015
59% of not-for-profit boards review their organization’s strategy at least once a year — should review be more frequent? Bob Mims, CPA gives tips for nonprofits to make their strategic planning successful. These include forming a strategic-planning team that represents the entire organization, keeping objectives simple, and establishing accountability. There must also be a team leader who can bring the group together. Throughout the entire process, the team must reach a consensus. When it comes to planning and implementation, metrics must be developed to define success in meeting objectives, and motivation among employees should be monitored to achieve goals.
The Land Trust Alliance “Saving Land”
Endowments: The Gifts that Keep on Giving, Fall 2015
Endowments are intended to retain their principal into perpetuity while generating income to be used for programs and mission. Bob Mims, CPA explains how nonprofits with a successful endowment growth strategy are in the best position to weather difficult economic downturns. He breaks down three ways to grow endowments: restrict endowment outright gifting, quasi-endowments, and net market appreciation. He believes nonprofits should have an investment strategy that diversifies the endowment portfolio because endowments provide the most efficient resources for a nonprofit’s critical mission.
The NonProfit Times
1. Benchmarking: When All Things Are Not Created Equal, Jan/Feb 2006 (Cover Story)
Bob Mims, CPA explains the most common data elements that are benchmarked among nonprofits, specifically: revenue, program efficiency, fundraising efficiency, and compensation of executives. Benchmarking is needed for comparison purposes, decision-making, and to garner ideas towards a best practices solution to issues. He informs readers why data that is compared by different entities can be a valuable source of information by which critical decisions are made.
2. Facing the Music: Who Should Answer Financial Questions, Feb 2004
Bob Mims, CPA was invited for a panel interview regarding who should answer questions about an organization’s finances. He was joined by Dr. John E. Courtney, CFAO, American Diabetes Association in Alexandria, VA, Atty. Elizabeth J. Kingsley of Harmon Curran Spielberg & Eisenberg in Washington, and Fay Twersky, Principal of BTW Consultants in San Francisco.
Browse this site to learn more about Bob Mims, CPA.