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.
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As discussed in a previous post, we’re seeing an increase in nonprofit collaboration, whether through mergers, acquisitions or, as we’ll discuss in this post, alliances. The success of these arrangements depends on careful planning and oversight.
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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.
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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.
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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?
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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.
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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.
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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.
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In one of our previous posts, we discussed toxic behaviors that often warrant firing a board member. Having an ineffective board of directors is not an option for a successful nonprofit, but removing a board member can be awkward and difficult.
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It seems inevitable that your nonprofit will need to replace a top executive within your organization at some point, and having the right executives in place is imperative to your organization’s success. Why not prepare your staff and Board now? Discuss these four basic steps of the executive search process today so you’re ready when it’s time to find a new person to lead your nonprofit organization.
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