nonprofit
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…
Under the Internal Revenue Code, “qualified sponsorship payments” to not-for-profits aren’t subject to unrelated business income tax (UBIT). Qualified payments refer to money, property transfers or the performance of services…
Nonprofits often work with limited resources, making efficient operations critical. Artificial intelligence (AI) and other forms of automating repetitive tasks can improve donor engagement, optimize fundraising, and expand outreach. Human…
Only some not-for-profit organizations are required to conduct independent annual audits. For example, the federal government and many states mandate an audit if a nonprofit receives more than a specific…
Your nonprofit’s board of directors should enjoy the role, the opportunity to support a cause close to their hearts and the camaraderie of working with others who are dedicated to…