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
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.
Read More
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.
Read More
Your not-for-profit has probably spent a lot of time and effort attracting board members who have the knowledge, enthusiasm and commitment to make a difference to your organization.
Read More
Investment fraud in nonprofit organizations, such as Ponzi schemes, is common. A 2013 analysis by The Washington Post found that more than 1,000 nonprofits had discovered fraud at their organizations between 2008 and 2012. Fraud cases can cause significant financial loss for not-for-profits, but the biggest consequence is often the loss of donors and the marring of the organization’s public reputation. Donor loss can, of course, have long-term financial implications beyond the initial post-fraud loss.
Read More
As funding sources diminish, an increasing number of nonprofit organizations are collaborating, merging or being acquired by other organizations. Pooling resources cuts costs and often increases efficiency, but it also means complicated accounting work and uncharted reporting obligations. Here, we'll explore different ways nonprofits are collaborating and what it means from an accounting and financial reporting perspective.
Read More
It is difficult to develop new and successful fundraising ideas for nonprofits. Instead of starting from scratch, why not amplify your current fundraising methods by personalizing them?
Read More