For any board of directors, internal controls for nonprofits prevent nightmares like waking up to discover missing money from the organization’s bank account or a rash of phone calls from vendors alleging they never got paid. Internal controls are a…
What do nonprofit budget best practices have to say about whether your budget should be balanced or have an overage? Does your board have standards for how to manage a deficit or how long to let it stay on the…
When it comes to developing a responsible compliance program, your board can start by asking, “What makes a good compliance program for nonprofits?” First, your board needs to consider the 3 purposes of your compliance program: Prevention Detection Corrective action…
The leaders you count on today may not be able to fulfill their duties tomorrow, and the right succession planning tools make the task of planning for successive leadership efficient and easy. Continuous, strong leadership is a must-have for nonprofits.…
The decisions that boards of directors make have a strong impact on the future and success of an organization. Those decisions are made by a democratic process where votes are determined by majority rule. With so much riding on every…
With the pandemic losing its steam, it’s time to consider when and how to resume nonprofit board meetings safely. Nonprofits are often needed most during times of crisis, so their work must continue regardless of the political, economic, and societal…
Thousands of great ideas never come to fruition because business owners and founders of nonprofit organizations aren’t familiar with the startup business grant process. They simply don’t have the seed money to get a business or organization off the ground.…
Nonprofits tend to follow many of the same governance practices as for-profit corporations. That makes perfect sense since nonprofit boards have just as much responsibility and liability as corporate boards. There’s been a heavier focus in the investment world on…
Fundraising ideas for a nonprofit organization can be difficult during any season. After COVID struck, your board and others like it were forced to face the possibility of a drop in donations due to lockdowns and quarantines. Public fundraisers with…
As your board completes all the requirements for becoming a 501(c)(3), no doubt you’re eager to get started doing good work for your community. Take caution though, until you have your tax-exempt determination letter in hand, some of the work…
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