The Operating Reserve is Your Nonprofit’s Financial Safety Net
What is an operating reserve? Cash set aside for a rainy day? Is it the same as a nonprofit’s net worth? And how much is too little, or too much? Read on for some answers.
Sarah started her career with Lumsden McCormick as a tax intern and now works in the audit and assurance department, where her primary focus is accounting, auditing, and tax matters related to nonprofit organizations and governmental entities. She has significant expertise working with exempt organizations including private and public foundations, primary, secondary, and higher educational institutions, auxiliary organizations, and community colleges in the areas of accounting for and compliance with diversified investment portfolios, tax compliance, and consulting, including unrelated business income and sales tax, information returns, financial reporting, and compliance with Yellow Book and Uniform Guidance.
Daemen College, Bachelor of Science, Accounting
American Institute of Certified Public Accountants
New York State Society of Certified Public Accountants
- Nonprofit Committee - Buffalo Chapter, Chair
National Association of College and University Business Officers
New York State Education Department Charter School Audit Guide Committee, Member
Western New York Planned Giving Consortium, Member
American Legion Auxiliary (NY), Member
Habitat for Humanity, Volunteer
Lumsden McCormick Making A Difference (MAD), Volunteer
New York Council of Nonprofits, Inc., Board Member
United Way of Buffalo and Erie County, Volunteer
Working For Downtown, Board Member, Past Treasurer