Recent News & Blog / Nonprofit
When corporate sponsorships raise UBIT issues
At a time when every dollar counts, your nonprofit doesn’t want to end up with a UBIT bill. So be careful when accepting corporate sponsorships because some can be risky. Read here or contact our nonprofit advisors for helpful tips.
Crowdfunding for your nonprofit can be easy, but the tax implications may not be
Crowdfunding campaigns can help nonprofits raise money for individuals or causes. But it’s critical that your organization and its supporters understand the tax implications. Contact our nonprofit advisors for more information.
Automate that! How AI and other software can help improve efficiency in your nonprofit
To improve your nonprofit’s efficiency, reduce repetitive work, improve donor engagement and optimize fundraising, consider increasing automation. Technology investments might seem like a luxury when your resources are limited, but they ultimately can pay off with increased financial support. Contact our nonprofit advisors for help with your nonprofit's efficiency goals.
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.