Recent News & Blog / Nonprofit
Tips to help nonprofits prevent accounting and tax errors
Although failing to file a Form 990 with the IRS when required to do so is probably a more serious mistake, filing it with data errors isn’t recommended. Similarly, your not-for-profit should strive to be as accurate as possible when preparing accounting and other tax documents.
Game on! Just make sure your nonprofit follows tax rules
If you’re starting to plan activities for a 2023 fundraiser, consider gaming — for example, bingo, poker, raffles and even casino-type games. Such games can be a great way to engage supporters and raise more revenue than your not-for-profit might otherwise.
Put an advisory board to work on your nonprofit’s challenges
A community health center desperately needed to upgrade its computer network. Unfortunately, the not-for-profit had little IT expertise on staff or on its board of directors.
New accounting standard: Does it affect your nonprofit?
An accounting standard from the Financial Accounting Standards Board (FASB) that takes effect in mid-December, 2022, could require your not-for-profit organization to act.
How to ease staffer anxiety about your nonprofit’s future
Like every other organization, your not-for-profit is probably working hard to negotiate the challenges of high inflation and other economic threats. So you’d be forgiven for concentrating more on stretching every dollar than on your staffers’ financial anxieties.
Operating reserves can help cushion financial blows
First the COVID-19 pandemic wreaked havoc on not-for-profit finances and operations. Now, many organizations are worried about how high inflation and a possible recession might interfere with their plans.
Protecting your nonprofit from data breaches
By now, all organizations — for-profit and not-for-profit — know about the risk of cyberattacks. Why then, would any nonprofit fail to secure its network and digital assets? One reason is cost. Cybersecurity can be expensive.
Why your nonprofit might want to compensate board members
Because most not-for-profit board members serve voluntarily, you may not have known compensating them was an option.
Putting accountability into practice
At its base, “accountability” means taking responsibility for outcomes — both good and bad. But one common byproduct of accountability is that results are actually more likely to be positive than negative.
The audit is over. Now what?
Whew! That’s probably your reaction when outside experts announce that their audit of your not-for-profit is complete. But even if auditors have left your premises and returned the documents they’ve reviewed, the work isn’t really over.