Does your non-profit have a code of ethical conduct? According to the Association of Certified Fraud Examiners, establishing and enforcing an ethical code is associated with 50 percent lower fraud losses. Codes of conduct are not just about fraud prevention, though. Holding staffers and board...
Non-profits sometimes team up with other entities to boost efficiency, save money, and better serve both organizations’ constituencies. This can be a smart move — so long as your accounting staff knows how to report the activities of the two organizations. How you handle reporting...
Last week, the Federal Reserve announced that not-for-profit organizations now may apply for loans under the $600 billion Main Street Lending Program. Previously open only to for-profit businesses with more than 100 employees, the program offers low-interest loans with relatively relaxed repayment terms. If your...
Want to increase your non-profit’s revenue? First, try analyzing current income as a professional auditor might. Then, you can apply your conclusions to setting annual goals, preparing your budget, and managing other aspects of your organization. Compare Contributions Compare the donation dollars raised in past years to...
Your non-profit has a board of directors — so why would it need an additional advisory board? There are a few reasons. Some organizations assemble advisory boards to provide expertise for a specific project, such as a fundraising campaign. Other organizations use them to give...
Factors such as wealth level, education, and even whether people volunteer, probably will tell you more about potential donors than their generation. But some broad generalizations about age can help non-profits target particular groups for support. The newest generation of adults belong to what is...
Non-profit organizations can lose their tax-exempt status in a variety of ways — including participating in lobbying and campaign activities, receiving excessive unrelated business income, and allowing board members to financially benefit from their positions. The most common reason non-profits lose their status, however, is...
The 2020 presidential election is fast approaching and your non-profit has a stake in its outcome. But that does not mean your organization is free to participate in campaign activities. In general, Section 501(c)(3)s risk losing their tax-exempt status if they participate in campaigning. However,...
In times of turmoil, your board of directors should be your non-profit’s rock-solid foundation. But what if your board is understaffed or simply does not provide the leadership your non-profit requires? Think about rebuilding it — and the sooner the better. Financial, public health, and...
Every two years, the Association of Certified Fraud Examiners (ACFE) publishes what has become the definitive guide for preventing and detecting workplace fraud. The recently released Report to the Nations: 2020 Global Study on Occupational Fraud and Abuse draws conclusions from more than 2,500 fraud...