Not-for-Profit

 Not-for-profits increasingly are adopting a corporate world tool: financial dashboards. A dashboard is a summary of an organization’s progress toward a specific goal over time — or a snapshot of its current situation.

Current financial pressures mean that your not-for-profit probably can’t afford to pass up offers of support. Yet you need to be careful about blindly accepting grants.

Setting up an advisory board could be a valuable asset to your nonprofit.  You may be thinking--"we already have a board of directors — so why would we need an additional advisory board?"  There are a few reasons.

Factors such as wealth level, education, and even whether people volunteer, probably will tell you more about potential donors than their generation. But some broad generalizations about age can help nonprofit organizations target particular groups for support.

The most common reason nonprofits lose their status is the failure to file an annual Form 990 or 990-N for three consecutive years. If your organization has landed on the IRS’s revocation list for this reason, don’t panic.

In times of turmoil, including the challenges of the Covid-19 pandemic, your board of directors should be your not-for-profit’s rock-solid foundation. But what if your board is understaffed or simply doesn’t provide the leadership your nonprofit requires?

Every two years, the Association of Certified Fraud Examiners (ACFE) publishes what has become the definitive guide for preventing and detecting workplace fraud.

A quid pro quo contribution occurs when a nonprofit receives a payment that includes a contribution and the nonprofit provides the donor with goods or services valued for less than the total payment.

If cash flow has dried up, your organization may need to do more than trim expenses. Here’s how to assess your financial condition and take appropriate action.

A key fiduciary duty of your not-for-profit’s board of directors is to oversee and monitor the organization’s financial health. Some financial warning signs — such as the loss of a major funder — may jump out immediately. But other red flags can be more subtle. Here are some of them.

Many large U.S. companies offer their employees a matching gift program which helps boost the impact of their employees’ charitable gifts. Double the Donation estimates that $2 to $3 billion is donated through matching gift programs every year.

Every nonprofit should have an executive search plan. Even if you aren’t facing an imminent vacancy, your organization is smart to prepare for what can be a long process. Executive searches generally take several months — even if you end up hiring someone already known to your nonprofit.