Plan Carefully for Nonprofit Board Meetings
Whether your not-for-profit continues to hold videoconference board meetings or is back to in-person gatherings, you don’t want to waste members’ time. The key is good planning.
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What the IRS Examiner Knows About Your Industry
While preparing for a business audit, an IRS examiner generally researches the specific industry and the taxpayer’s return issues. In addition, examiners may use IRS “Audit Techniques Guides (ATGs).”
Wisconsin Biennial Budget Bill Updates
The Wisconsin governor signed the 2021-2023 biennial budget bill that makes some changes to personal income tax, corporate income tax, partnership changes, sales tax, and property tax.
Nonprofit Boards: Is it Time for an In-Person Retreat?
As states open for business and the need for social distancing recedes, your not-for-profit organization may want to think about scheduling an in-person retreat for your board of directors.
The Importance of Benchmarking for Nonprofits
Benchmarking is widely used by for-profit companies but sometimes is overlooked by charities and other nonprofits. A not-for-profit organization should be committed to benchmarking because it offers many benefits, including long-term sustainability.
How Your Nonprofit Can Recover From Fraud
Fraud and embezzlement schemes cost not-for-profit organizations more than just money. The hit to a group’s reputation may scare off donors, grantmakers, and other supporters.
Your NFP May Want to Consider Licensing Your Name and Brand
In this pandemic year, many not-for-profits are scrambling to find new revenue sources to replace donor contributions and other lost income.
Appealing to Next Generation of Supporters
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.
Quid Pro Quo Contribution
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.
Review and Replace Ineffective Programs at Your Nonprofit
It’s all too easy to let ineffective not-for-profit continue, even as they consume budget resources. To help ensure your resources are being deployed efficiently and effectively, consider using the tradition of spring cleaning to review and, potentially, replace ineffective programs.
Keep Your Nonprofit Afloat with a Leadership Succession Plan
If your top executive were to step down tomorrow, would your not-for-profit know how to make a smooth leadership transition or would your boat suddenly be rudderless? Fortunately, creating a succession plan isn’t as difficult as you might think.
Don’t Waste Your Board Member’s Time
Your board members serve because they believe in your organization and care about your mission. However, most are unpaid volunteers. You owe it to them to make the job as easy as possible — starting with well-organized board meetings that are only as long as necessary.
Fraud Risk Assessment
Publicly traded companies must conduct fraud risk assessments but privately held businesses aren’t subject to the the same fraud risk assessment requirements.
Corporate Espionage
Corporate espionage involves the theft of information that hasn’t been made public and each year businesses lose billions of dollars in intellectual property (IP) from thieves stealing trade secrets.
Cause Marketing
Even if your nonprofit typically doesn’t have budge shortfalls, you may be looking for new funding sources and may want to consider cause marketing. Made possible via a partnership with a for-profit business, cause marketing can boost your budget, your public profile and even your volunteer base.