Nonprofit organizations operate on razor-thin budgets. They have to raise enough money to afford funding outreach programs, as well as sponsor special events that raise awareness of their worthy causes. Budgeting for nonprofits became especially problematic during the COVID-19 pandemic when … Read More

As one of the managers responsible for your nonprofit’s tax and accounting reports, you understand the implications of making errors on a wide variety of statements. Just one error with a tax form, one mistake on a balance sheet, or one oversight for a reconciliation statement, and your organization … Read More

The COVID-19 pandemic created an economic firestorm that many nonprofit organizations have discovered to be difficult to put out. High inflation has taken a bite out of the budgets of nonprofit organizations and many nonprofits must fill a record number of job openings caused by an acute labor … Read More

Accountability is a term used by nonprofit organizations, but what does the term mean? It means taking responsibility for actions and outcomes. Operating with a keen sense of accountability helps nonprofit managers discover solutions to difficult problems, instead of avoiding them. Because nonprofit … Read More

Achieving tax-exempt status for your nonprofit organization is a vital element of meeting your goals. Without tax-exempt status, your cash flow takes a hit because of the payments your nonprofit must make to the IRS. Maybe you forgot to file Form 990. 990-EZ, or 990-N with the IRS before the … Read More

When you glance at your car’s dashboard, you see plenty of useful information that helps you operate the motor vehicle, such as how fast you are traveling, how far you have traveled, and how much fuel you have before you need to stop at a fuel station. A financial dashboard resembles a car dashboard … Read More

Working at a nonprofit organization is a highly energetic experience. Organizing fundraisers, recruiting volunteers, and interacting with donors make the commitment to a cause worthwhile. However, there is one obligation that can be viewed as an unpleasant task. We are talking about writing and … Read More

Donors with charitable hearts do not donate to their favorite causes just to take advantage of tax breaks. It is the financial health of the charity that matters, as well as the mission the charity wants to accomplish. However, charitable donors should understand the tax implications of their … Read More