Support for female causes growing slowly While women’s and girls’ organizations have seen some gains in recent years, a new report from the Lilly Family School of Philanthropy at Indiana University finds they still account for a small percentage of giving. According to “The Women & Girls Index: Measuring Giving to Women’s And Girls’ Causes,”…Read More
The American Institute of Certified Public Accountants (AICPA) Auditing Standards Board’s latest standards are kicking in, and many nonprofits will notice resulting changes to the format and content of auditor reports on their organizations’ financial statements. The updates are intended to make auditor reports more meaningful and transparent for the users of financial statements, including…Read More
The COVID-19 pandemic has resulted in numerous risks for nonprofit organizations. In addition to health-related risks and financial challenges, the pandemic has intensified the threat of cyberattacks. Hackers have grown more sophisticated in recent years. They often target nonprofits because charities hold confidential donor data but may fail to safeguard such data. And the cost…Read More
The COVID-19 pandemic has driven home many lessons for nonprofits, perhaps none so much as the importance of operating reserves. If your nonprofit is among those organizations with dramatically depleted — or nonexistent — reserves, here are some steps you can take to remedy the situation. 1. Achieve buy-in. It sometimes can be difficult to…Read More
Survey finds mixed results on public trust A new survey from Independent Sector reveals some worrisome trends regarding the public trust in nonprofit and philanthropic organizations. As the survey report highlights, trust is a necessary condition for many Americans’ support. Examples of nonprofits for purposes of the survey include churches and religious organizations, health and…Read More
As we move toward a post-COVID-19 economy, it’s a great time to do some strategic planning. And the way nonprofits go about strategic planning may be ready for an update as well. By adopting a more fluid and ongoing approach known as “real-time strategic planning” (RTSP), nonprofits can quickly and efficiently identify, understand and act…Read More
The pandemic has wreaked havoc with many nonprofits’ budgets over the past two years. Some organizations have taken a more permissive approach to budgeting, but they can’t afford to continue it indefinitely. If your nonprofit is in this position, it’s time to buckle down. Here are three tips to help you develop the realistic budgets…Read More
The role of a nonprofit’s finance committee is probably more important now than at any time since the 2008 financial crisis and ensuing Great Recession. Here are some of the areas your committee should focus on almost two years into the COVID-19 pandemic. 1. Cash flow Financial reserves have taken a hit across all types…Read More
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