Managers at not-for-profit organizations are increasingly under as much scrutiny as corporate management at for-profit enterprises. Donors are tying their support to operational efficiency. Fundraising success (or failure) is a public, and widely dissected, metric. The impact the organization makes and its success in achieving its mission shape the public's perception of the entity and mold its prospective sustainability.

This month we feature several articles looking at different aspects of the financial management of not-for-profit organizations. Jeffry Haber and Caitlin Schryver discuss how not-for-profit organizations can develop key performance indicators that are relevant for themselves and the sector. Amy West describes how not-for-profit organizations can use data to make better management decisions. And John Eusanio and David Rosenbaum discuss how information technology can help secure a not-for-profit's information and enable it to plan strategically.

In addition, the past few years have seen significant new accounting and auditing standards that affect the not-for-profit sector. CPAs are still digesting FASB's recent standard on the presentation of a not-for-profit organization's financial results; David Rottkamp describes how the guidance can be utilized to present a clearer picture of an entity's condition. New guidance on whether a transition is considered a contribution or an exchange provides clarity on a significant accounting issue for not-for-profits; Marc Taub, David Hollander, Lisette Rodriguez, and Robert A. Dyson analyze the standard and give examples for how it should be applied. Also covered in this issue are topics in the auditing of not-for-profits, such as following the new “Yellow Book” guidance, safeguarding auditor independence, and ensuring that a firm has the expertise necessary to perform a uniform guidance audit.