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...
Just last week, the Small Business Administration (SBA) announced that it has reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance program to eligible applicants still struggling with the economic impact of the COVID-19 pandemic. The EIDL program offers long-term, low-interest loans to small businesses...
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...
Private companies and most non-profits were supposed to implement updated revenue recognition guidance in fiscal year 2019 and updated lease guidance in fiscal year 2021. In the midst of the COVID-19 crisis, the Financial Accounting Standards Board (FASB) has decided to give certain entities an...
One of the strongest predictors of a non-profit’s long-term survival is multiple revenue streams. Many organizations with only one or two found that out that the hard way when they failed during the 2008 recession. The same is likely to be true for non-profits that...
Charitable contributions are not always eligible for tax deductions — even when the non-profit recipient is tax exempt and the donor itemizes. Take ‘quid pro quo’ donations. These transactions occur when your organization receives a payment that includes a contribution and you provide the donor...
The novel coronavirus crisis has put enormous financial stress on many non-profits — whether they are temporarily shut down or actively fighting the pandemic. If cash flow is scarce, your organization may need to do more than trim expenses. Here is how to assess your...