Resources

Are your not-for-profit’s board members subject to term limits? If not, you might want to consider implementing what’s widely considered a best practice. Some board members lose enthusiasm for the job over time or might even become ineffective or disruptive. Negative attitudes at the board level can easily trickle down and harm your organization’s programs […]

Timely financial information is critical to a successful business. In today’s dynamic marketplace, you may need to act fast to ward off potential threats and risks — and jump on new opportunities. But if you wait until your financial statements are released to react, you’ll likely miss out. Flash reports can provide real-time data that […]

By scheduling annual financial statement audits, you can demonstrate your organization’s financial fitness to donors and other stakeholders. Plus, state governments and other grant makers may mandate them. But don’t assume that auditors will simply swoop in and take care of everything related to the process. You’ll need planning and preparation to make your audit effective, […]

Although conflict-of-interest policies are essential for all not-for-profits, private foundations must be particularly careful about adhering to them. In general, stricter rules apply to foundations. For example, you might assume that transactions with insiders are acceptable so long as they benefit your foundation. Not true. Although such transactions might be permissible for 501(3)(c) nonprofits, they […]

If your not-for-profit focuses all of its fundraising energy on the holiday season and the end of the year, it’s not misguided. After all, 26% of charitable giving to nonprofits occurs in December, according to the 2023 M+R Benchmarks Study. But that means almost three quarters of annual donations need to be obtained during the […]