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March 10, 2023

Are your Accounting and Development departments like oil and water?

When Accounting and Development teams don’t work well together, the situation can lead to more than employee hostility and conflict. It can affect the not-for-profit’s financial statements and lead to the forfeiture of grant funds. To ensure the staffers in your Accounting and Development departments communicate fluidly, you may need to revise certain procedures and […]

Filed Under: Featured, Not for Profit

March 9, 2023

Why you should connect with giving circles

Giving circles — generally small groups of people who make a charitable impact by pooling their money — are growing in popularity. If your not-for-profit isn’t already actively appealing to them, you need to get up to speed because they’re capable of providing substantial financial resources. Collective decision-making Giving circles sometimes are confused with crowdsourcing, […]

Filed Under: Featured, Not for Profit

March 5, 2023

Is effective altruism all it’s cracked up to be?

The arrest last year of a high-profile cryptocurrency exchange founder for fraud not only hurt the crypto business, but also cast a shadow on “effective altruism.” This philosophy employs evidence and statistics to determine strategic ways to benefit others — and the alleged fraudster is a vocal proponent. He has claimed that he earned as much money […]

Filed Under: Featured, Not for Profit

February 16, 2023

Even perfectionists can learn to love delegation

Not-for-profit executives can be perfectionists — they often know exactly how they want something done and believe they’re the only ones capable of doing it right. Unfortunately, this attitude can alienate staffers and make it difficult to mentor successors and build effective teams. Then there’s the problem of time: There are only so many hours […]

Filed Under: Featured, Not for Profit

February 13, 2023

A refresher on nonprofit endowment management

If your not-for-profit has an endowment, you probably know it’s a major responsibility. Endowment investments generally need to be managed by a financial expert, and your organization must adhere to certain regulations, particularly when it comes to spending. As a refresher — or primer for new employees or board members — here are the basics of […]

Filed Under: Featured, Not for Profit

February 11, 2023

Before your nonprofit celebrates that new grant …

Most not-for-profits can’t afford to turn down offers of financial support. At the same time, you shouldn’t blindly accept government or foundation grants simply because they’re offered. Some grants may come with excessive administrative burdens, cost inefficiencies and lost opportunities. Here’s how to evaluate them. Administrative and other burdens Smaller or newer nonprofits are at particular […]

Filed Under: Featured, Not for Profit

February 10, 2023

Valuing tangible property donations isn’t as simple as you may think

A new refugee resettlement charity had only just begun operating when its director realized something: She wasn’t sure how to value the many donations of clothing and household goods community members had dropped off. Was value simply the price her not-for-profit would charge if it sold the goods in a rummage sale or on an […]

Filed Under: Featured, Not for Profit

January 22, 2023

Tips to help prevent accounting and tax errors

Although failing to file a Form 990 with the IRS when required to do so is probably a more serious mistake, filing it with data errors isn’t recommended. Similarly, your not-for-profit should strive to be as accurate as possible when preparing accounting and other tax documents. Carelessness can cost you support from donors and grant makers […]

Filed Under: Featured, Not for Profit

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