nonprofit
External audits can help assure your not-for-profit’s stakeholders that your financial statements are fairly presented according to U.S. Generally Accepted Accounting Principles. They can also help prevent occupational fraud. Often,…
In 2023, Indiana University’s Lilly Family School of Philanthropy released a public opinion survey that provided both good and bad news for nonprofits. Although the respondents said they trust philanthropic…
The United States is entering the most natural-disaster-prone time of the year. Tornadoes are most likely to occur in May, and the Atlantic hurricane season starts on June 1. Not-for-profits that…
For many not-for-profit organizations, maintaining a full and active board of directors is challenging. If your board holds frequent meetings, has high attendance expectations and requires members to do considerable…
Building nonprofit resilience through administrative spending Researchers from The Ohio State University and the University of Notre Dame have developed a mathematical model to guide nonprofits on how to divvy…
Many nonprofit organizations struggle with allocating expenses properly. The Financial Accounting Standards Board (FASB) can help. By complying with FASB standards, you may be able to simplify your processes. Defining…
Under the Inflation Reduction Act (IRA), nonprofits — including public charities, private foundations, social welfare organizations, labor organizations, business leagues, religious or apostolic organizations, and public universities and hospitals —…
There are many reasons why a 501(c) tax-exempt organization might consider restructuring. For example, a financially struggling nonprofit might decide to join forces with another organization to cut costs and…
When the Inflation Reduction Act (IRA) became law in late 2022, you might have assumed that the tax breaks it contained wouldn’t affect your tax-exempt organization. That’s not the case.…
Whether it’s inflation, trouble finding staff members in a tight labor market, or cybersecurity threats, nonprofit leaders have a lot to worry about. If making financial forecasts is harder than…