Many not-for-profits are in the first year of implementing the new lease accounting standard and may need guidance on where to start. Below-market leases or donated space also give rise to another new accounting update to consider.
Developing future leaders and mapping out a succession plan in advance is one of the best ways to mitigate the risk of losing key personnel and prepare for the future needs and growth of an organization. This video offers tips and best practices for creating and implementing a succession plan for your nonprofit.
Investment Policy Statements dictate how a nonprofit’s investment program operates. How is performance measured? Learning how to benchmark and measure success and organize the investment committee helps to ensure investment committee members satisfy their fiduciary duties.
Every not-for-profit manages funds, but not every organization has an established and well-documented Investment Policy Statement. Learn how the investment committee can review the IPS and safeguard against unnecessary investment risk.
Nonprofit organizations that rethink conventional assumptions can improve budget planning and performance against strategic objectives.
Many organizations may not be aware they’re subject to a single audit. It can help to look at similar scenarios to determine compliance requirements when accepting funds greater than $750,000.
Labor shortages are hitting nonprofits harder than most industries. Strategies to address this challenge don’t have to include higher wages; there are several other potential options, like culture, recruiting, contract workers, tax credits, and more.
The IRS has overhauled the 2020 Form 990T “Exempt Organization Business Income Tax Return” and created a new Schedule A “Unrelated Business Taxable Income From an Unrelated Trade or Business” to allow reporting of separate unrelated business activities.
Election years can create uncertainty for nonprofits, even off-years and midterm elections. This article explores factors that are impacting nonprofits and what they can do to stay ahead of changing legislative priorities.
A small Virginia nonprofit thought they were doing all the right things in terms of cybersecurity, cyber insurance and safety. They found out the hard way that it wasn’t enough to avoid the damage from a hacker that knew how to manipulate their weak points.
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