Non-profit organizations are different from for-profit businesses in many vital ways. One of the most crucial differences is that under Section 501(c)(3), Section 501(c)(7), and other provisions, non-profits are tax-exempt. Keep in mind that your tax-exempt status is fragile. If you do not follow the...
High-net-worth individuals donated $5.8 billion during the first six months of the COVID-19 pandemic — generous giving by most standards. This is according to a recent report, ‘Philanthropy and COVID-19 in the first half of 2020,’ from the Center for Disaster Philanthropy and information service...
Many non-profits are just starting to emerge from one of the most challenging environments in recent memory due to the COVID-19 pandemic. Even if your organization is in good shape, do not get too comfortable. Financial obstacles can appear at any time, and you need...
According to The NonProfit Times, only 41 percent of non-profits have whistleblower policies. Perhaps non-profit leaders believe their organizations are too small or collegial to worry about illicit activities — let alone people reporting them. Or perhaps a whistleblower policy seems like one more thing...
No one needs to tell non-profit organizations how tough the past year has been. According to the John Hopkins Center for Civil Society Studies, 7.7 percent of non-profit workers — nearly one million people — lost their jobs between February 2020 and January 2021. An...
How committed is your non-profit organization to benchmarking? Perhaps you think it makes sense in the for-profit sphere but not as much for charities and other non-profits. If so, you are probably missing out on its benefits — including long-term sustainability. Here is how to...
Events of the past year put a dent in many non-profit’s reserves. Perhaps you had to use these funds to buy personal protective equipment or to pay staffers’ salaries when your budget no longer proved adequate. As the pandemic wanes and economic conditions improve, you...
Thousands of non-profit organizations fall victim to embezzlement schemes every year — some even losing millions of dollars. But losses go beyond actual dollar amounts. The hit to a group’s reputation may scare off donors, grantmakers, and other supporters. However, with the right response, non-profits...
With the competition for donation dollars fierce right now, many non-profits are turning to influencers — from Hollywood celebrities to politicians to notable bloggers — to raise awareness of their organizations and causes. There are a few things you should know, however, before your non-profit...
Many organizations get stuck in procedural ruts because it is easier in the short term to continue doing things the way they have always been done. However, it is a good idea to regularly review your non-profit’s accounting function for inefficiencies and oversight gaps. You...