Category: Nonprofit

Events of the past year put a dent in many not-for-profit’s reserves. Perhaps you tapped this stash to buy PPE or to pay staffers’ salaries when your budget no longer proved adequate. As the pandemic wanes and economic conditions improve, you’ll need to start thinking ...

Thousands of not-for-profit organizations fall victim to embezzlement schemes every year — some even losing millions of dollars. But losses go beyond actual dollar amounts. With the right response, nonprofits can bounce back from fraud. Here’s how....

With the competition for donation dollars fierce right now, many not-for-profits are turning to influencers — from Hollywood celebrities to politicians to blog stars — to raise awareness of their organizations and causes. But before your nonprofit solicits influencer sup...

Many organizations get stuck in procedural ruts because it’s easier in the short term to continue doing things the way they’ve always been done. But it generally pays to regularly review your not-for-profit’s accounting function for inefficiencies and oversight gaps. Y...

Your accounting and development departments are central to the continued financial health of your not-for-profit. So what happens when communication between these two functions break down? It could result in conflict between staffers, inaccurate financial statements and, in ...

If your charity or association depends financially on membership fees, you know that nonprofit member renewals are important. Non-renewals are cause for concern. During this time of economic and occupational insecurity, you may be experiencing membership drop-offs and some a...

If the events of 2020 have taught not-for-profits anything, it’s that financial reserves are essential to long-term survival. An endowment is different from operating reserves and generally is designed to provide steady income to a nonprofit while its core investments grow...

Holiday-inspired generosity and the desire to reduce tax liability makes the end of the year a busy time for charitable giving. According to Network for Good and other sources, approximately 30% of nonprofit donor gifts are made in December alone. An important part of proces...

It’s been a tough year for not-for-profits. Many have experienced an increased demand for services just as revenues have plummeted. Until the COVID-19 pandemic is over, your organization’s board of directors will likely play a special role in ensuring that it remains on ...

Does anyone actually read footnotes? If they’re financial statement footnotes, the answer is usually “yes.” Footnotes can provide donors, governmental supporters and other stakeholders with critical information about your not-for-profit. So it’s important to work wit...

Delegation ideally gives not-for-profit executives time to focus on mission critical tasks and provides growth opportunities to staffers. However, you need to approach delegation strategically. This means assigning the right tasks to the right staffers — and following up o...

A warning if your not-for-profit organization is looking for expenses to cut: Nonprofits should not skimp on insurance! Should your nonprofit experience a fire, major theft or other calamity, you’ll be glad you have the coverage. Of course, you may also be required by your...