Recent News & Blog / Nonprofit
Are your nonprofit board meetings as focused as they could be?
Your nonprofit’s monthly board meetings may not be running as efficiently as possible. If that is true for you, you may want to consider planning agendas, assignments, and timetables. You may also want to consider following up with members after these meetings. Contact the nonprofit advisors at SEK for more information.
What revenue numbers can reveal about your nonprofit’s financial health
Don’t wait for the next audit to review your nonprofit’s revenue stream. Consistent and predictable income is essential. Using auditor techniques, it’s possible to perform a detailed income analysis. Ask our nonprofit advisors for assistance.
Find your nonprofit’s next leader with a team and a plan
If a nonprofit leader leaves unexpectedly and there’s no executive search committee or plan ready, a disorganized and lengthy search is likely. Here’s how to be ready to replace a critical employee. Contact our nonprofit advisors for guidance.
Nonprofits: Beware of shady investment advisors
If you have an endowment or stash of operating reserves, a shady investment advisor could pose as a legitimate and experienced expert and trick you into handing it over. Here’s how to avoid this type of scheme, as well as how to maintain your nonprofit’s image as a responsible financial steward. Contact our nonprofit advisors with questions.
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.