Auditors examining a nonprofit's financial statements should spend considerable time on the revenue figures. At BBD, we look at the accounting methods used to record revenues and perform a detailed income analysis. You can use the same techniques to increase your understanding of your organization's revenue profile.Read More
The relatively new federal procurement standards, which went into full effect in fiscal year 2017, significantly alter the way nonprofits receiving federal funding handle purchasing. You may have changed your written policies, but are you complying with the standards in practice? If not, you could risk losing funding.Read More
The end of your fiscal year is often a time for a push in fundraising and giving. But after the flurry of this year-end fundraising, you and your not-for-profit’s staff are probably ready for a little break. Be aware that your supporters may be tired, too. At some point, even the most philanthropic individuals experience donor fatigue and start saying “no” — even to their favorite charities.Read More
When an arrangement is personally benefiting one of your officers, board members or employees, you are in violation of IRS guidelines regarding conflicts of interest in nonprofits, and you could lose your tax-exempt status as well as your good reputation.
A nonprofit capital campaign is one of the best fundraising methods, particularly if you have a certain project or purchase in mind. But capital campaign fundraising requires strong leadership, extensive planning and dedicated participants.
When your nonprofit organization is struggling financially and you’ve already attempted to cut costs in more traditional ways, like wage freezes and layoffs, what’s next?Read More
Not-for-profit organizations do not exclusively receive cash donations. Your support also likely comes in the form of gifts in kind and donated services. But even when such gifts are welcome, it can be challenging to determine the value of donated items for financial reporting purposes.Read More
Many organizations are required to receive an annual audit, and it may at times seem like a burden to an organization. However, effectively audited financial statements are a tool for good governance. Your management team and board can learn a great deal and truly better your organization.Read More
Many not-for-profit organizations rely on income from endowment funds to help meet operating expenses, ease cash-flow problems and supplement each year’s annual budget. Although endowments are often a financial bedrock for nonprofits, there are endowment fund rules that you must follow.Read More