Payable-on-death (POD) and transfer-on-death (TOD) accounts are attractive estate planning tools because they allow assets to pass directly to named beneficiaries without going through probate. This can save time, reduce
With fewer federal grants available to non-profit organizations, the competition to qualify for funding — from all sources, including foundations — has become more intense. Now, more than ever, your
In general, non-profits can’t use restricted assets for purposes other than those specified by the original donor. Board-designated assets (or board-designated funds) are another matter. These are unrestricted funds that
Even non-profits that make realistic budgets and hold adequate funds in reserve to cover shortfalls can run into financial emergencies — particularly if they lose a major funding source. But
On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (OBBBA), which contains several provisions that may affect your non-profit organization. Let’s take a look at a
Whether you’re planning an off-site retreat for board members, a luncheon for potential corporate funders, or a formal fundraiser, you likely will encounter opportunities to cut expenses. Although no one
In the process of slashing expenses? Just be careful not to cut essential items, such as sufficient staffing to maintain strong internal controls, from your non-profit’s budget. Internal controls are
To save money, it may be tempting to perform your non-profit’s accounting tasks internally. However, if your staff is inexperienced and not properly trained, mistakes are likely to occur —
Reliable income streams are invaluable—especially during times of economic uncertainty, when members and donors may hesitate to renew or continue monthly contributions. If you’ve seen a decline in memberships or
After reaching age 73, individuals with traditional IRAs generally are mandated to start taking required minimum distributions (RMDs). However, they have the option of making qualified charitable distributions (QCDs) to
