Recent News & Blog / Nonprofit
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.
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.