Recent News & Blog / Nonprofit
Mine your nonprofit’s audit report for good suggestions
Even if your not-for-profit isn’t required to conduct annual audits, it’s a smart policy to adopt. In addition to encouraging transparency and reassuring donors, audits produce reports you can use to adjust policies and procedures for better, less-risky operations. Your executives and board members can also review audit reports and correct any deficiencies or weaknesses in internal controls. Contact our nonprofit advisors for help with audits and internal controls.
Nonprofits: Promoting good governance with a board policy
Creating a board governance policy can provide directors with a framework to make ethical decisions, take appropriate actions, and handle real or potential conflicts. You might want to consult financial and legal advisors if your board is unsure what to do in a particular situation. Contact our nonprofit advisors for more information on governance.
“Privacy, please” when your nonprofit stores sensitive data
A critical issue that’s neglected too often by not-for-profits is the protection of private data. Assess your organization’s risk and ensure your security procedures protect records. Make sure your nonprofit complies with all applicable privacy laws.
Nonprofits: How to attract the best, most qualified interns
Internships are an excellent way to build a pipeline of future employees and leaders. Although students and recent graduates are often eager, but many also expect to be paid. This can be tough if your budget is already strained. Also, before you engage interns, make sure you know whether the positions are subject to FLSA regulations.
Who does what in your nonprofit organization?
To avoid confusion and misunderstandings, your nonprofit needs to establish guidelines about the roles and responsibilities of employees vs. board members. Draw “lanes” as early as orientation. Provide individuals with descriptions of their duties and offer specific examples illustrating their scope. Contact our nonprofit advisors with questions.
Your nonprofit’s board needs to know these financial warning signs
If you’re on the board of directors for an organization whose finances aren’t in good shape, you and the rest of the board play a vital role in keeping your nonprofit in fighting shape. So keep your eyes open for these warning signs. Contact SEK's nonprofit advisors to review your financial statements and budget to assess your organization’s resilience.
How to cut costs instead of your nonprofit’s staff
Due to federal funding reductions, some nonprofits may be tempted to conduct layoffs. Before you take this step, look for other ways to cut costs. Here are seven tips. Contact our nonprofit advisors with questions.
What your nonprofit should know about credit loss reporting rules
How much do you know about a relatively new accounting standard that applies to credit losses of nonprofits that follow Generally Accepted Accounting Principles? If your organization is subject to the current expected credit loss (CECL) rules, you need to get up to speed. Such accounting is complex, so consider engaging our nonprofit accounting professionals for help.
Put your nonprofit’s cybersecurity system to the “pen” test
How well does your nonprofit’s cybersecurity program protect you from hacking? Penetration (pen) testing helps find vulnerabilities so you can, if necessary, strengthen your defenses. Contact our nonprofit advisors for assistance with your nonprofit.
Beyond Boomers: How to engage younger generations with your nonprofit
Make sure your nonprofit marketing efforts are reaching Gen X, Millennials and Gen Z. Try to target them on the social media platforms they frequent. Gen Xers and Millennials like to make recurring donations and give via work while Gen Z members are more likely to use phone apps and social impact purchasing. Contact our nonprofit advisors for donation assistance.