Posts Tagged ‘debt’

10 Business Essentials for Nonprofits

It often seems that when otherwise business-savvy individuals become involved in a nonprofit organization, they set aside all they ever learned in business and proceed to operate their nonprofit as if business rules do not matter.  As most soon find out, they matter a lot.  In this post, let’s take a look (in no particular order) at 10 business basics that nonprofits ignore at their own peril.

lemmingsMoney. This may come as a shock to some, but being “nonprofit” does not, cannot, mean NO profit.  With the notable exception of GM, AIG and a few others, a business must make a profit to survive.  Your organization is probably not on Geitner’s list for TARP funding, so red ink should be regarded as impending doom.  With the uncertainty of this economy, you simply must be solvent.  You and your board may have to make some tough decisions.  Some programs may have to be scaled back or eliminated.  Fundraising must become even more focused and intentional.  I won’t repeat a lot of what we’ve discussed recently concerning funding…suffice it to say you must keep a lid on overhead…now more than ever.

Read the rest of this entry »

Bookmark and Share
Special Promotion!

The Foundation Group is offering pro bono nonprofit incorporation services for a limited time. No strings attached. Go here to see the details.

Email icon
SafeSubscribe with Constant Contact
Client Feedback

I was amazed and jubilant when I opened our IRS approval letter. The high quality of The Foundation Group’s work can be seen in the fact that it took only 15 days from the time of submission to approval by the IRS. Your error-free attention to details helped smooth the way. I heartily recommend The Foundation Group to anyone seeking assistance in the 501(c)(3) process. — Rev. David Cole, Golden Gate Senior Fellowship, San Francisco, California

Follow us on Twitter!

Posting tweet...

Our Visitors

15,184
Past 30
Days
Powered By Google Analytics
Get Adobe Flash playerPlugin by wpburn.com wordpress themes