nonprofit

Even if your not-for-profit isn’t legally required to obtain independent audits, such audits can enhance financial transparency, increase accountability, and help you build trust with your stakeholders. But how do…

With fewer federal grants available to not-for-profit organizations, the competition to qualify for funding—from all sources, including foundations—has become more intense. Now, more than ever, your nonprofit needs to submit…

Even not-for-profits that make realistic budgets and hold adequate funds in reserve to cover shortfalls can run into financial emergencies—particularly if they lose a major funding source. But if your…

Whether you’re planning an off-site retreat for board members, a luncheon for potential corporate funders, or a formal fundraiser, you likely will encounter opportunities to cut expenses. Although no one…

In the process of slashing expenses? Just be careful not to cut essential items, such as sufficient staffing to maintain strong internal controls, from your not-for-profit’s budget. Internal controls are…

Operating reserves — unrestricted assets you can readily access — are often called “rainy day funds.” However, stable reserves are critical for more pressing reasons than for occasional financial setbacks.…

More than ever, many nonprofits are counting on social media to boost fundraising and build awareness. These tools have proven increasingly effective in recent years, but you need to remember…

In today’s competitive labor market, your nonprofit organization may seek innovative ways to stretch limited budgets while advancing its mission. One often overlooked opportunity is the federal Work Opportunity Tax…

Historically high inflation and government funding cuts have prompted many nonprofits to scramble for ways to ensure their long-term survival. One avenue of increasing interest is merging with another organization.…

Individuals with traditional IRAs generally are mandated to start taking required minimum distributions (RMDs) after they reach age 73. However, they have the option of making qualified charitable distributions (QCDs) to…

If your not-for-profit’s board members frequently miss meetings, show little enthusiasm for their roles, or resign before their terms are up, board meetings may be to blame. Perhaps they run…

Without a predictable revenue stream, you’ll have a hard time budgeting, funding priorities and planning for the future. Right now, many organizations are grappling with sudden federal grant cuts. If…

A fictional nonprofit lost its executive director (ED) when she died unexpectedly. The charity had a basic contingency plan, but the document didn’t name an actual successor for the ED…

For the past couple of years, investment fraud has been the costliest type of scam reported to the FBI’s Crime Complaint Center. The FBI generally defines investment fraud as schemes…