If your non-profit owns its own facility, it likely will have more control of work space than if you lease. However, ownership carries risks — and leasing can provide several advantages. If you are trying to make a buy-or-lease decision, be sure to weigh the...
Did you know that the Financial Accounting Standards Board recently extended the simplified private-company accounting alternatives to non-profit organizations? Many merging non-profits, including educational institutions and hospitals, welcome these practical expedients. Here are the details. Alternative for goodwill The first alternative accounting method allows for the amortization...
It is no secret that this is a challenging time for charitable fundraising. In its annual Giving USA 2019 report, the Giving USA Foundation noted a decrease in individual and household giving, blaming such impersonal factors as tax law changes and a wobbly stock market. So...
One of the worst things that can happen to a non-profit organization is to have its tax-exempt status revoked. Among other consequences, the non-profit may lose credibility with supporters and the public, and donors will no longer be able to make tax-exempt contributions. Although loss of...
Who would defraud a kids’ organization? The answer, unfortunately, is that trusted adults sometimes steal from non-profits benefiting children. Youth sports leagues and teams, for example, are ripe for fraud. Cash transactions are common, and coaches and board members usually are volunteers with little accountability. If...
Borrowing is not just for businesses. Many non-profits borrow money for major capital purchases, new program funding, and even to manage current cash flow. But if you are hoping to borrow, it is important to understand that there are likely to be obstacles ahead, including...
When you receive a personal gift from a friend or family member — even if it is not something you particularly want — you accept the gift and thank the person. The same is not always true of gifts given to your non-profit. Gifts should...
Most non-profit board members are unpaid volunteers. They have agreed to serve because they care about your mission and the impact your organization is making. You owe it to them to make the job as easy as possible — starting with well-organized board meetings that...
You may think that only large, well-endowed non-profits require the advice of an investment manager. But even smaller non-profits with modest endowments — particularly smaller non-profits that do not have in-house financial expertise — can benefit from hiring an investment professional. Finding qualified candidates Finding the right...
How well do you listen to your non-profit’s supporters? If you do not engage in ‘social listening,’ your efforts may not be good enough. This marketing communications strategy is popular with for-profit companies but can just as easily help non-profits attract and retain donors, volunteers,...