At the heart of every nonprofit organization is its mission, and a part of the fundamental financial scaffolding that helps an organization achieve its mission is its tax-exempt status. This status not only allows nonprofits to avoid the costly tax obligations of for-profit businesses, but it also … Read More
In any organization, there are bound to be unexpected fluctuations in staffing that can negatively impact the organization’s functioning. These fluctuations, however, can be experienced more intensely in nonprofits, where positions that make up the smooth operation of the organization tend to be … Read More
Whether you compensate your nonprofit’s board or it's made up of volunteer members, their position as trustees of your organization comes with critical fiduciary responsibilities. These duties may be codified in state law, but even if they are not, fiduciary duties are essential to preserving the … Read More
As not-for-profits taking on broader societal and cultural issues, such as income equality, access to healthcare, some are looking to the emerging approach of “collective impact.” This includes coordinating nonprofit organizations across sectors to achieve more significant change than isolated … Read More
Many well-intentioned donors may wish to give “restricted” gifts, or gifts that are conditional or tagged for specific purposes, such as for the the development of a specific program or initiative. Unrestricted giving, however, can offer a flexibility that often better serves the organization the … Read More
For many non-profit organizations, grant money is fundamental to their funding model and securing those grants can be an anxiety-inducing task. Not only are the stakes high, but also there is often stiff competition for the same money. For these reasons, it is important to prioritize a consistent … Read More
A nonprofit’s tax exempt status is not a given once it is granted. Rather, it is an ongoing characterization that governs the way revenue is created and used. In order to maintain nonprofit exempt status, organizations must look carefully at the IRS rules that define exempt status and ensure they … Read More
Though nonprofit organizations are different in many ways from for-profit businesses, that doesn’t mean that one can’t learn from the other. For-profit business owners can benefit from adopting the community-focused approach of nonprofits, such as the many successful corporations that prioritize … Read More
D&O insurance refers to directors and officers liability insurance and it is meant to mitigate the personal responsibility of certain parties affiliated with an organization in the event of litigation. Many for-profit entities engage this type of insurance coverage, but fewer non-profits carry … Read More
Infographic: For 2018, the threshold for itemizing medical expenses is only 7.5% of AGI. … Read More