For most charitable gifts, the ability to qualify for a tax deduction hasn’t changed with the passage of the Tax Cuts and Jobs Act. However, there are some changes to the recordkeeping requirements. Understanding these changes, and being able to help those donors who itemize deductions navigate … Read More
Keep your nonprofit afloat with a leadership succession plan
If your top executive were to step down tomorrow, would your not-for-profit company be able to make a smooth leadership transition or would there be an overall lack of direction? According to the nonprofit BoardSource, only 27% of nonprofits have written succession plans. Unfortunately, without a … Read More
How nonprofits can take advantage of corporate volunteers
A strong corps of volunteers who operate within a robust volunteer program can be a huge help to many nonprofits. Where employees or outside professionals like lawyers or nonprofit audit services are not needed, volunteers can step in and provide vital assistance in day-to-day operations or annual … Read More
Accounting for contributions and grants is now easier
For many not-for-profits, it's time to enlist the help of nonprofit audit services to get everything in order for end-of-the-quarter or end-of-the-year accounting. The good news is, there is new guidance from the Financial Accounting Standards Board (FASB) that helps organizations navigate the … Read More
Avoid excess benefit transactions and keep your exempt status
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
Engage supporters with your nonprofit’s annual report
For many nonprofits, their annual report is a multi-team project that takes a good deal of time, effort, and coordination - and for good reason. The annual report is not only an opportunity to check the pulse of the organization, but also to display to its many stakeholders the hard work the … Read More
4 key metrics for evaluating your nonprofit’s finances
Do you know how to evaluate the use of your nonprofit’s funds and the target ranges for these metrics? Though sound financial management may not be front and center in your nonprofit’s mission, it is essential for ensuring the integrity of its programs and services. One of the benefits of nonprofit … Read More
How cause marketing can help your nonprofit
As any provider of nonprofit audit services will tell you, it is ideal to have a diversity of funding sources. When your nonprofit can rely on multiple types of funding, your more likely to avoid budget shortfalls and better positioned to expand your services as you need. Cause marketing is an … Read More
How cross-training staff helps your nonprofit
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
Educating your board members about fiduciary duties
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
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