• Help donors help your nonprofit with a planned gift

    Most established not-for-profits are already equipped to solicit and accept planned gifts. But if your nonprofit is new to planned giving and doesn’t yet understand the long-term advantages of deferred gifts, it’s a good time to get up to speed. You’ll likely need to educate donors about the advantages — for them and your organization — of this form of support. 3 forms Planned gifts typically are [...]

    Published On: November 15, 2023Categories: Featured, Not for Profit
  • Nonprofits: Special events call for tax planning

    Tax reporting may be the last thing on your mind when planning a special fundraising event. But your not-for-profit should carefully track revenues and expenses and retain related documentation now to facilitate the reporting process later. Pay attention to the following issues. What to report Tax reporting for an event may require different — and more — information than financial statement reporting does. If your organization adheres [...]

    Published On: September 3, 2023Categories: Featured, Not for Profit
  • Do you need to shake up your nonprofit’s culture with new ideas?

    Most not-for-profits develop a culture over time that comes to define the organization. But even if your organization has a successful record and reputation, your staffers can become complacent and growth and productivity can suffer. Here’s how to determine if you need to make cultural changes. Signs of trouble There are several signs that a nonprofit’s culture is stagnating. For example, you may notice a [...]

    Published On: September 2, 2023Categories: Featured, Not for Profit
  • How to get the attention of high-net-worth philanthropists

    Even if your not-for-profit’s fundraising results have been lackluster recently, one high-net-worth donor can turn your year around and make it a fundraising success. The question is: How do you find ultra-wealthy individuals with philanthropic intentions? Who they are A 2022 BNY Mellon study found that most individuals with at least $5 million in assets under professional management work with wealth management advisors on their charitable giving [...]

    Published On: August 30, 2023Categories: Featured, Not for Profit
  • Overcoming benchmark resistance in your nonprofit

    If your not-for-profit sets performance goals — and most organizations should — then you need benchmarks to measure your performance. Staffers and your board may not enthusiastically embrace benchmarking at first. But if you can show its value and make the process easy, you should be able to get everyone on board. Mission-focused work Employees and board members may think benchmarking is more appropriate for [...]

    Published On: July 6, 2023Categories: Featured, Not for Profit
  • Commit to continually improve your nonprofit’s accounting processes

    Do your not-for-profit’s accounting processes work perfectly — with no errors, delays or other inefficiencies? If yours is like most organizations, probably not. But if your nonprofit is committed to improvement, you have an edge over those that accept the status quo. Whether it’s building budgets, paying invoices or preparing financial statements, there’s almost always something that can work better, faster and less expensively. Prioritize certain [...]

    Published On: July 5, 2023Categories: Featured, Not for Profit
  • Keep thieves from stealing from your nonprofit youth sports league

    A few years ago, the popular and well-compensated executive director of a west coast youth soccer league was accused of fraud. After scrutinizing the club’s books, the league’s board of directors couldn’t account for $80,000. Criminal charges were eventually dropped, but many similar cases have concluded in embezzlement findings and significant losses. According to The Washington Post, youth sports has become a $19 billion proposition. Unfortunately, many [...]

    Published On: July 2, 2023Categories: Featured, Not for Profit
  • Are your nonprofit’s interim and year-end financial statements at odds?

    Using the cash basis of accounting may make sense for your not-for-profit organization — at least at this stage. Many smaller nonprofits use the cash basis to prepare their financial statements because it’s generally quick, easy and intuitive and can alert them to current cash flow challenges. However, there’s a potential problem with cash basis accounting: It can require year-end adjustments. Let’s look at the issue. [...]

    Published On: July 1, 2023Categories: Featured, Not for Profit
  • Is QuickBooks right for your nonprofit?

    Not-for-profit organizations exist to achieve nonfinancial or philanthropic goals, not to make money or build value for investors. But they still need to monitor their financial health — that is, how much funding is coming in from donations and grants and how much the organization is spending on payroll, rent and other operating expenses. Many nonprofits turn to QuickBooks® for reporting their results to stakeholders [...]

    Published On: June 30, 2023Categories: Featured, Not for Profit
  • Should you reassess your nonprofit’s office space?

    Since the original COVID-19 lockdowns, many not-for-profits have allowed their staffers to work from home — or work a hybrid schedule that puts them onsite only part time. This can leave a lot of office space unused. Depending on your nonprofit’s current lease, it may be more cost-effective to downsize or seriously consider other options. Relocate work As many organizations learned during the pandemic, when equipped [...]

    Published On: May 26, 2023Categories: Featured, Not for Profit
  • Nonprofits and insurance: Getting it just right

    Whether you’re starting up a not-for-profit organization or your nonprofit has existed for years, you may have questions about insurance. For starters: What kind do you need? How much? Are you required by your state or by grantmakers to carry certain coverage? Much depends on your organization’s size, scope and programming. But your goal should be to carry what’s required to meet any regulatory or funding [...]

    Published On: May 25, 2023Categories: Featured, Not for Profit
  • Keep thieves from stealing from your nonprofit youth sports league

    A few years ago, the popular and well-compensated executive director of a west coast youth soccer league was accused of fraud. After scrutinizing the club’s books, the league’s board of directors couldn’t account for $80,000. Criminal charges were eventually dropped, but many similar cases have concluded in embezzlement findings and significant losses. According to The Washington Post, youth sports has become a $19 billion proposition. Unfortunately, many [...]

    Published On: May 18, 2023Categories: Featured, Not for Profit
  • 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 actively encourage collaboration. Different recipes The first step is to [...]

    Published On: March 10, 2023Categories: Featured, Not for Profit
  • 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, where the number of donors can run as high as [...]

    Published On: March 9, 2023Categories: Featured, Not for Profit