5 reasons to outsource your accounting
Running a non profit organization is challenging. Executive Directors usually prioritize core operations over tedious accounting tasks. Plus, the accounting rules can be overwhelming. However, access to timely, accurate financial data is critical to your organization’s success. Could outsourcing accounting tasks to a third-party provider be a smart decision? Here are five reasons why the […]
Improve financial reporting with an effective audit committee
External auditors have primary responsibility for audit quality. However, the audit committee plays an important oversight role in the financial reporting process. Here are some best practices to consider when evaluating the composition of your company’s audit committee. Understanding the audit committee’s purpose Audit committees act as gatekeepers over financial reporting. This means overseeing the […]
Planning an event? Don’t neglect sponsorships
There are many ways to evaluate the success of a not-for-profit event. But for most nonprofit leaders, financial success — how much did we raise? — is the metric that ultimately matters. To be financially fruitful, nonprofit events need sponsors (companies and individuals) to cover a portion of expenses. Be sure to make securing sponsorships central to […]
How your board should evolve over your nonprofit’s life
One thing every new not-for-profit organization can count on is change. Ideally, the changes you experience will be for the better — expanded programming, increased staffing, more clients served and greater overall impact in your community. Your board of directors will be critical in keeping your nonprofit focused as it grows. But how do nonprofit […]
Gather information from clients without triggering survey fatigue
To administer productive programs worthy of your not-for-profit’s budget, you need to determine whether they’re meeting clients’ needs. In general, the best way to assess this is by surveying participants. But survey fatigue — frustration or disinterest when asked to take yet another online survey or one that’s overly complicated or takes too long to […]
Outsourcing HR tasks can help understaffed, overworked nonprofits
At one time, not-for-profit HR departments might have been responsible primarily for recruiting and hiring and occasionally for intervening in disciplinary or conflict resolution matters. Today, HR staffers usually also administer benefits, provide employee orientation and training, draft and update various policies, ensure regulatory compliance, and keep employee records. They may even oversee payroll. That’s […]
Even a lower-cost benefits menu can help you attract talent
Some job candidates assume that not-for-profit organizations offer lower compensation than for-profit companies do. If your nonprofit has open positions, this can be a difficult hurdle to overcome — particularly if you don’t have the budget to compete with for-profit businesses. However, you may be able to offer fringe benefits that won’t take a big […]
Cross-training initiatives can get your whole organization in shape
Elite athletes train hard to perfect their performance in a particular discipline, but they also cross-train. For example, a sprinter might, in addition to running for hours, lift weights, swim and cycle. By strengthening all major muscle groups, athletes can reduce risk of injury and enhance performance in their primary sport. Cross-training nonprofit employees generally promotes […]
5 ways to present your financial results in a reader-friendly manner
Accurate, timely financial information is key to making good decisions for executives, board members, investors, and other stakeholders. But not everyone who reads your financial statements will really understand the numbers they receive and what they mean to your organization. Here are some ways to present your financial results in a reader-friendly manner. Consider your […]
Are your volunteers risking legal and tax liability?
Comprehensive risk management is one of the primary responsibilities of not-for-profit leaders. You probably regularly consider and act to mitigate risk to your facilities and assets and your staffers and clients. What about your volunteers? Even though the federal Volunteer Protection Act of 1997 provides some protection, volunteers face the real risk of being sued […]