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.
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…
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…
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. …
The following is a guest post from Donately. Donors are the lifeline of your organization. To retain their support, your nonprofit has to go the extra mile to keep donors engaged and passionate about your cause. However, how can you…
The end of the year is THE BEST time of year for fundraising. And it’s a great time to get your Board involved in helping you raise money. But if you’re like most, your Board doesn’t do a whole lot…
Here’s a factoid you’ve probably heard before: The majority of small business startups fail within the first 5 years. Sadly, the same is true for nonprofits. There are a multitude of factors that come into play that help to determine…
There are few topics that generate more confusion to nonprofit managers than unrelated business income (UBI). It is also one of the areas than can cause the most problems for your organization. It can cost you money in the form…
One of the questions we are frequently asked when it comes to charitable solicitations or fundraising registration is the cost of non-compliance. What risk does an organization run if it fails to properly register in a state where it’s required?
The issue of a nonprofit operating in a foreign country is rather complex. It can involve multiple government agencies and be fraught with pitfalls that can only be avoided if you understand the rules. If you are like many of…
