When you start a charitable organization, one of the most important decisions you’ll make is selecting your board of directors. Your board is legally responsible for governance, fiduciary, and strategic oversight of your nonprofit corporation. This usually includes ratification of your initial bylaws, as well as overseeing…
Over the course of our many years in business, we have found the public support test to be among the least understood topics by nonprofits, especially smaller organizations. But, it is absolutely critical to understand how it works, lest your nonprofit…
Maintaining timely and accurate financial records is one of the most important responsibilities facing every nonprofit organization. But doing it right is time-consuming, and the rules are complicated.
Nonprofit organizations play an important role in addressing societal issues and providing services to communities. The board of directors is a critical component of these organizations, as they are responsible for overseeing the organization’s strategy, finances, and operations. In this…
A common mistake made by both businesses and nonprofits alike is the failure to budget income and expenses. Far too often, it’s a see-what-comes-in mentality that rules the day, with no attempt to plan, manage, or adapt to changing financial…
IRS Form 990, the full-length version, is arguably the most detailed tax return the average person is likely to encounter. While there are certainly IRS tax forms that are equally complex, most are used for very targeted situations, not for…
You think you’re pretty well versed in the English language, right? If you grew up in an English-speaking country, you’re pretty sure you have this thing down pat. Maybe you do, and maybe you don’t!
Sometimes, those operating a charitable activity do not wish to fully formalize what they’re doing into an actual 501(c)(3) nonprofit entity. The reasons for this vary, but often the services of a fiscal sponsor is needed. Properly setup, fiscal sponsorships…
Founder’s syndrome. It affects nonprofits and for-profits alike. And it can be crippling to any organization, regardless of the form it takes. Understanding what it is and how to avoid it, or fix it, is crucial to the future of…
Risk is relative. For some people, jumping out of an airplane is a typical weekend adventure. For others, driving 5 miles per hour over the speed limit makes your pulse quicken and beads of sweat break out on your forehead. …