To survive the current crisis, your nonprofit needs multiple revenue sources - One of the strongest predictors of a not-for-profit’s long-term survival is multiple revenue streams. Many organizations with only one or two failed when the 2008 recession hit. Although even nonprofits with diverse revenue sources are struggling during the COVID-19 crisis, you can start making yours more resilient by evaluating your current situation and considering new income sources. However, while you don’t want to put all your eggs in one basket, you also don’t want too many baskets, because each new revenue stream will require its own strategy. So regularly review revenue sources to ensure they’re pulling their weight. (May 27, 2020) Click here for full article.
When nonprofits contributions are quid pro quo - Did you know that your nonprofit faces possible financial penalties if it fails to provide written notification to donors in quid pro quo transactions? Not even sure what quid pro quo contributions are? Read on. (May 20, 2020) Click here for full article.
Is your nonprofit's tap running dry? - Due to the COVID-19 crisis, is your nonprofit’s long-term viability in question? Ask your board to lead a review and repair effort. The goal is to cut costs and increase cash flow again. (May 13, 2020) Click here for full article.
Time to team up: Nonprofit partnerships - If your nonprofit has shied away from alliances with other organizations because you safeguard your autonomy, today’s challenging conditions may provide a new incentive to team up. Here’s what you need to know. (May 6, 2020) Click here for full article.
Nonprofits: Navigate COVID-19 obstalces with virtual board meetings - You can keep your nonprofit’s board members in touch and able to make decisions by facilitating virtual board meetings. But be sure to check state laws and your organization’s bylaws first. (April 29, 2020) Click here for full article.
Clearing the cobwebs from your nonprofit's program offerings - Your nonprofit’s supporters may be unable to make monetary donations in these uncertain times. If they offer gifts in kind or donated services instead, do you know how to account for these donations? (April 22, 2020) Click here for full article.
What COVID-19 legislation means for nonprofits and their staffers - Desperate appeals to donors may not be the smartest strategy during the COVID-19 crisis. Here’s how to approach supporters and earn their long-term loyalty. (April 15, 2020) Click here for full article.
Surviving the COVID-19 crisis: A nonprofit action plan - In the wake of the COVID-19 pandemic, the only certain thing is uncertainty. Nonprofits need to assess their current financial position, come up with alternative revenue models and prepare for a long, hard fight. (April 8, 2020) Click here for full article.
CARES Act offers new hope for cash- strapped nonprofits - The federal government’s latest response to COVID-19, the CARES Act, makes low-interest and forgivable loans available to nonprofit employers. Learn how to qualify for these critical lifelines. (April 1, 2020) Click here for full article.
What COVID-19 legislation means for nonprofits and their staffers - New legislation provides rules for nonprofit employers whose staffers are affected by COVID-19. What does the law say? Read on. (March 25, 2020) Click here for full article.
Clearing the cobwebs from your nonprofit's program offerings - If you’re confident that all of your nonprofit’s programs further your mission and meet constituents’ needs, great! If not, consider a thorough spring cleaning. Here’s how to assess your lineup. (March 18, 2020) Click here for full article.
How are you going to find your nonprofit's next executive? - Hiring the right executive is too important for nonprofits to leave until they desperately need to fill an empty spot at the top. Prepare an executive search plan now so it’s ready when you need it. (March 11, 2020) Click here for full article.
How taxes affect your nonprofit's donors - Does your nonprofit have a matching gift plan? Employees are more likely to donate to charity if their employers provide a matching gift. However, you may need to remind them of this benefit. (March 4, 2020) Click here for full article.
Improve your nonprofit's strategic planning with a "real-time" approach - Nonprofits that use Real-Time Strategic Planning align their daily actions with their overall strategy. This can result in more donations, media coverage and other advantages. Learn more (February 26, 2020) Click here for full article.
How taxes affect your nonprofit's donors - Annual independent audits don’t have to be stressful. If you devote proper time and attention to accounting throughout the year, you may even find audits affirming. Here’s how to prepare. (February 19, 2020) Click here for full article.
Can you board recognize financial red flags? - Does your nonprofit’s board understand the financial information they receive? Are members able to spot irregularities and warning signs? It could determine your organization’s future. (February 12, 2020) Click here for full article.
How taxes affect your nonprofit's donors - Donors can’t claim a deduction for the donation of their professional services. However, related out-of-pocket costs, such as supplies and miles driven, are deductible as charitable contributions. (February 5, 2020) Click here for full article.
ERM: A systemic approach to reducing your nonprofit's risks - No organization can contain every threat. That’s where enterprise risk management (ERM) comes in. Learn how ERM can help your nonprofit identify its greatest risks and mitigate them. (January 29, 2020) Click here for full article.
How to gather more feedback from the people you serve - Do your nonprofit’s clients know you’re listening? We have tips for organizations with budgetary or time constraints that prevent them from regularly soliciting feedback (January 22, 2020) Click here for full article.
Conflict- of-interest policies are too important for nonprofits to neglect - Some nonprofit policies may be optional. But a conflict-of-interest policy isn’t one of them. Learn why you need to list potential conflicts as well as procedures for avoiding them. (January 15,2020) Click here for full article.
Executing your nonprofit's capital campaign - “Capital campaigns generally are complex, labor-intensive and long. They can last three years or more. Before you attempt to execute a capital campaign, review our tips (January 8, 2020) Click here for full article.
Congress rolls back burdensome UBIT on transportation benefits- There’s good news for nonprofits burdened by the Tax Cuts and Jobs Act provision related to UBIT on employee transportation benefits. Learn what Congress has been up to. (January 2, 2020) Click here for full article.