Recent News & Blog / Nonprofit
Making your nonprofit board retreat rejuvenating — and productive
Not-for-profit board members tend to be busy people. So even if your budget is tight, try to organize periodic retreats that enable members to clear their minds and focus on your organization’s most pressing issues. Make sure you write a thorough agenda and schedule adequate time for brainstorming, as well as breaks to have fun as a group. Contact the business advisors at SEK if you need more financial tips.
Nonprofits: Don’t let myths and self-doubt thwart your capital campaign plan
Don't let unfounded fears prevent your organization from pursuing its philanthropic goals. Just make sure you plan carefully, choose the right leaders and communicate your goals forcefully, and you can execute a rewarding capital campaign. Contact the CPAs and business advisors at SEK for help analyzing the financial aspects of a capital campaign.
Nonprofits: Planning an event? Don’t neglect sponsorships
To be financially fruitful, nonprofit events need adequate sponsorship to cover a portion of expenses. Whether you’re planning a gala, a conference or something else, start early to beat out competition for philanthropic dollars. Contact the CPAs and financial advisors at SEK with financial and tax questions about special event planning.
How your board should evolve over your nonprofit’s life
A board of directors is critical to keeping a not-for-profit focused over the years as it grows. But how do nonprofit boards change over time? In part, it depends on the organization and its mission. Its life stage will also help determine your board’s priorities, responsibilities and composition. Contact the business advisors at SEK for help with your nonprofit.
Nonprofit: Even a lower-cost benefits menu can help you attract talent
If your not-for-profit is recruiting new staffers, it can be difficult to overcome the widely held belief that nonprofits offer lower salaries than for-profit businesses. To entice candidates to give your organization a second look, consider enhancing your benefits menu. It doesn’t have to cost a lot. Talk to a benefits expert or contact the business advisors at SEK for more information.
Nonprofit: Cross-training initiatives can get your whole organization in shape
Elite athletes cross-train to promote full-body strength, enhance performance and reduce the risk of injury. Nonprofits that cross-train staffers on one another’s jobs can reap similar results. If your employees understand the basic functions of other positions, they can jump in and help out if someone goes on disability leave or there’s a work surge in a particular department. For more information, contact the CPAs and business advisors at SEK.
Nonprofits: Why private foundations need to avoid self-dealing
The IRS strictly prohibits self-dealing between private foundations and “disqualified persons.” Self-dealing generally includes lending money and extending credit and providing goods and facilities. Financial penalties for violations can range from 5% up to 200% of the amount involved in a transaction. Contact the CPAs and business advisors at SEK for questions on staying compliant.
Nonprofits: Thinking ahead to your next Form 990
The deadline for calendar-year not-for-profits to file Form 990 with the IRS has come and gone. But it’s never too early to think about reporting responsibilities for the next deadline. Work with the CPAs and business advisors at SEK to help ensure you accurately track activities during the year and are prepared to file Form 990.
Nonprofits: Gather information from clients without triggering survey fatigue
The sheer number of feedback requests has resulted in a widespread sense of “survey fatigue” among Americans. To overcome this barrier and find out what your nonprofit’s clients think about your programs, you likely need to go beyond offering online surveys with your email newsletters and on your website and social media platforms. Contact the business advisors at SEK for more information.
Nonprofits: Act thoroughly on audit findings
External audits can help assure your nonprofit’s stakeholders of your financial stability and help prevent fraud losses. Often, audit reports recommend actions organizations need to take. If you fail to make changes that respond to a report’s concerns, it could threaten your nonprofit’s future. Contact the CPAs and business advisors at SEK to answer your nonprofit audit questions.