Recent News & Blog / Nonprofit
Pinched nonprofits may want to free up board-designated assets
In general, nonprofits can’t use restricted assets for purposes other than those specified by the original donor. Board-designated assets (or board-designated funds) are another matter.
Using your nonprofit’s endowment to navigate financial obstacles
Even not-for-profits that make realistic budgets and hold adequate funds in reserve to cover shortfalls can run into financial emergencies — particularly if they lose a major funding source.
The OBBBA: What it means for nonprofits
New tax legislation contains both good news and bad news for nonprofits. We highlight several OBBBA provisions that may affect your organization. Contact our nonprofit advisors with questions.
How to keep cost cutting from increasing fraud risk for your nonprofit
If your nonprofit must cut costs, be careful not to slash funding for fraud prevention. Fraud losses can be devastating, and expenditures for cybersecurity and outsourced accounting are recommended. Contact our nonprofit advisors for more.
4 tips to help nonprofits prevent accounting and tax errors
If your nonprofit doesn’t engage accounting and financial professionals, mistakes are likely to happen. These are four common errors that can cause big problems for nonprofits that try to go it alone. Contact our nonprofit consultants for more assistance.
Give members reasons to continue supporting your nonprofit
Don’t just stand by if your nonprofit’s members aren’t renewing or automatic monthly donors are dropping off. Give stakeholders reasons to support you even if they’re concerned about economic uncertainty. Conduct new ways to communicate the valuable benefits of supporting your nonprofit.
Nonprofits: Get the word out about IRA qualified charitable distributions
Qualified charitable distributions (QCDs) have been beneficial for donors and nonprofits for almost 20 years. Enhancements in the SECURE 2.0 Act have made QCDs even more appealing, but you may need to educate your supporters about them. Contact the CPAs and nonprofit advisors at SEK to learn more.
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.