Community foundations pull back on funding A new survey of 98 community foundations representing about $38 billion in assets reveals a worrisome trend for nonprofits that rely on foundation funding. The FEG 2022 Community Foundation Survey from Cincinnati-based Fund Evaluation Group (FEG) Investment Advisors indicates that only 6% of community foundations expect to change their…Read More
As nonprofits grow, some may struggle with the financial side. Let’s face it, nonprofits generally begin with a vision or passion, and not with financial know-how. For some organizations, a chief financial officer (CFO) may be a good choice. What does a CFO do? Generally, the nonprofit CFO (also known as the director of finance)…Read More
The inflation rate hit highs in 2022 not seen since the early 1980s, and the federal funds interest rate has continued to climb steadily, after historically low rates during the height of the pandemic. Few nonprofit leaders have dealt with such economic conditions before. Read on to gain some insights on the landscape ahead and…Read More
When it comes to cyberthreats, your employees are on the front line, but many of them are unprepared. They may not be aware of the risks and red flags, and they may not know how to respond when cybercriminals strike. With the average total cost of a data breach at $4.35 million, and nonprofits far…Read More
Fundraisers seek protection with “bill of rights” The Association of Fundraising Professionals (AFP), which previously developed a “Donor Bill of Rights,” is now looking inward to protect their members’ own “physical, mental and emotional wellbeing” on the job. A recent AFP survey found that nearly a quarter of fundraisers have experienced sexual coercion, meaning pressure…Read More
Nonprofits that aren’t careful can stray over the line that distinguishes between public charities and private foundations. This can expose nonprofits to lower tax-deductible donation limits as well as potential excise taxes and penalties. Certain organizations, including universities and churches, automatically qualify as public charities, but others must pass a public support test. Role of…Read More
The updated accounting standard for leases, released back in 2016, is finally taking effect this year for all organizations, including nonprofits, that haven’t already adopted it. You might be surprised at how many “leases” you have under the Financial Accounting Standards Board’s (FASB) Accounting Standards Update (ASU) 2016-02, Leases (Topic 842) — whether for real…Read More
How federal legislation may affect DAF distribution timelines A bipartisan group of legislators has introduced the Accelerating Charitable Efforts (ACE) Act in the U.S. House of Representatives. The ACE Act mirrors a bill introduced in the Senate in June 2021. It would create two new types of donor-advised funds (DAFs) — 15-year (or qualified) and…Read More
Religious congregations must comply with IRS rules and federal and state laws. But because they don’t have to file income tax returns, some fail to engage independent financial experts. Without that oversight, congregation leaders may not know all the requirements to which they’re subject and internal controls could be lacking. This leaves them vulnerable to…Read More
According to the Dorothy A. Johnson Center for Philanthropy, giving circles have tripled in number since 2007, to about 1,600 groups with more than 46,000 members in the United States. With almost $1.3 billion in grants already made by giving circles, your nonprofit should ensure it’s on the circles’ radar. Small groups, big impact Giving…Read More
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