Resources

Financial statements are critical to monitoring your business’s financial health. In addition to helping management make informed business decisions, year-end and interim financial statements may be required by lenders, investors and franchisors. Here’s an overview of two common accounting methods, along with the pros and cons of each method. 1. Cash basis  Under the cash-basis […]

When was the last time you evaluated your not-for-profit’s social media strategy? Are you using the right platforms in the most effective way, given your mission, audience, and staffing resources? Do you have controls to protect your nonprofit from reputation-damaging content? These are important questions — and it’s critical you review them regularly. At the […]

In today’s uncertain marketplace, many businesses are stashing operating cash in their bank accounts, even though they might not have imminent plans to deploy their reserves. However, excessive “rainy day” funds could be an inefficient use of capital. Here’s a systematic approach to help estimate reasonable cash reserves and maximize your company’s return on long-term […]

Even if current donations are your not-for-profit’s bread and butter, you can’t afford to neglect planned, legacy, or deferred gifts. These gifts, generally made through wills and living trusts, often are much larger. Your employees don’t need to be directly involved when donors establish gifts through their estate plans. But your development staff should know […]

Whether it’s inflation, trouble finding staffers in a tight labor market, or cybersecurity, nonprofit leaders have a lot to worry about. If making financial forecasts is more difficult than usual, consider taking measures that will fortify your not-for-profit’s position, regardless of the challenges. Keep an eye on cash Your organization may still be struggling following […]