When you glance at your car’s financial 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 dashboard resembles a car dashboard … Read More
Promoting Your Nonprofit With Your Annual Report
Working at promoting your 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 … Read More
How to Cut Costs Instead of Your Nonprofit’s Staff
The COVID-19 pandemic taught the leaders of nonprofit organizations many lessons starting to cut costs 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 … Read More
What Charitable Givers Need to Know About Taxes
Donors with charitable hearts do not donate to their favorite causes just to take advantage of charitable givers and 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 … Read More
Classify Your Nonprofit’s Workers Correctly — or Risk Repercussions
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
When Nonprofits Should Return Donations
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
A Credit Card Use Policy Can Help Prevent Abuse
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? Let's navigate the financial landscape … Read More
Should Your Established Nonprofit Sponsor a Smaller Project?
Before the COVID-19 outbreak, nonprofit sponsor of all sizes had plenty of flexibility when it came to choosing which causes and charities to sponsor. However, the beginning of the pandemic forced many nonprofits to ramp up operations quickly under the mandates enacted because of the “new … Read More
Why Excess Benefit Transactions Are Out-of-Bounds
As a long-time dedicated board member of her city’s most recognized social-services charity, Emily violated an IRS rule that prohibits excess benefit transactions. The social-services charity wanted to purchase land from Emily at a price that was valued higher than nearby properties. Although Emily … Read More
Nonprofits Shouldn’t Venture Abroad Without a Map
After conducting a California nonprofit audit, you learn your organization is in a strong financial position to consider broadening its reach internationally. Charitable organizations help nations improve society, from housing the homeless to finding new ways to use sustainable products. Although … Read More
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