New rules for nonprofits to report gifts in kind (such as land or services) take effect for annual periods starting after June 15. So if you haven’t already familiarized yourself with the rules, now’s the time.
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Why don’t your nonprofit’s interim and year-end financial statements match? It may come down to cash basis vs. accrual accounting. Here’s how to minimize the need to make adjustments.
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Many nonprofits are wary of adding expensive insurance coverage. But a directors and officers (D&O) policy can protect board members from financial liability and ultimately save money.
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After this past year, you and your nonprofit’s board may think they can overcome any financial challenge. But don’t get too comfortable. These financial warning signs merit immediate attention.
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Without a whistleblower policy, your nonprofit could learn about illegal or unethical internal activities only after media, law enforcement or regulators do. Adopting a policy is relatively easy. Here’s how.
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Everyone knows about the $1,400 checks earmarked for qualified individuals. But what does the American Rescue Plan Act propose for struggling nonprofit organizations? We review the highlights.
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Benchmarking provides critical information when developing and executing strategic plans. So if your nonprofit doesn’t use financial metrics, you may be flying blind. Here’s how to get started with benchmarks
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Three months, six months, 12 months? When rebuilding your nonprofit’s operating reserves, how much in expenses should you try to put aside? It may determine how well you survive the next crisis.
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A good social media influencer can increase awareness of your nonprofit and generate donations. The wrong one can irreparably hurt your reputation. Here’s how to build a lasting influencer relationship
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Nonprofit accounting systems can become inefficient and less effective over time if they aren’t monitored. You should regularly review your accounting function for these potential upgrades.
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The commerciality doctrine was created to address concerns over nonprofits competing at an unfair tax advantage with for-profit businesses. It could trip up your organization if you’re not careful. Read on.
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It’s not enough to maintain your current supporter base. You also need to grow it. Here are five tips for attracting positive attention with your news releases and other communications.
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Whether your nonprofit has only a handful, or hundreds, of staffers, communication can easily break down. Here’s how to keep the critical lines between your development and accounting departments open.
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Tis the season for donations! Are you properly substantiating contributions with detailed acknowledgment letters to donors? Here’s what nonprofits need to include in thank-yous.
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As long as the pandemic continues, nonprofit boards must be on their toes. Budgets and financial statements, in particular, may alert your board to impending trouble. Here’s what members should look for.
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Internal auditors can provide assurance that a nonprofit’s internal controls are effective at minimizing risk. But audits have a lot more to offer, including strategic insights. Read on.
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Even if your nonprofit is weathering 2020’s multiple storms, your staffers may be anxious. Make sure you’re clear about where you stand and how you expect your organization to fare financially in the future. Here’s how.
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Before your nonprofit joins a collective impact initiative, review five typical requirements. It could mean the difference between reaching charitable goals and the group fizzling out.
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How do you pay your nonprofit’s workers? This is just one question you must ask to properly classify staffers as employees or independent contractors. We look at several factors the IRS considers.
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Government or foundation grants can help your nonprofit expand its reach and improve its effectiveness. But they also may hamstring your organization in several unexpected ways.
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