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
The COVID-19 pandemic taught the leaders of nonprofit organizations many lessons starting in March of 2020. Perhaps the most important lesson concerned how to keep your nonprofit financially afloat during a pandemic that creates an economic crisis. More than two years removed from the start of the … 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
Because of an acute labor shortage and budget deficits related to the pandemic, many nonprofits have operated without a sufficient number of workers during 2022. The nonprofits that struggled with hiring workers began recruiting independent contractors to fulfill employment needs for short-term or … Read More
Requests to return donations do not happen often, but every once in a while, your nonprofit might receive a request to return either a cash donation or the donation of an asset. How do you respond to such a request? Does the law require you to comply with a request to return a donation? What if an … Read More
Savvy non-profit executives delegate responsibilities to allow them to focus on more important leadership issues. Should the delegation of responsibilities include allowing certain employees to make purchases by using a credit card owned by the nonprofit? The answer is yes, if your nonprofit has … Read More