Category: not for profit

Unless 501(c)(3) organizations prove they’re publicly supported, the IRS assumes they’re private foundations. The distinction is important, because publicly supported charities enjoy higher tax-deductible donation limits and generally are exempt from excise taxes and related penalties. The tax code recognizes several types of publicly supported organizations, but most 501(c)(3) charities fall into one of two categories. The…

Giving circles — generally small groups of people who make a charitable impact by pooling their money — are growing in popularity. If your not-for-profit isn’t already actively appealing to them, you need to get up to speed because they’re capable of providing substantial financial resources. Collective decision-making Giving circles sometimes are confused with crowdsourcing,…

Most not-for-profits can’t afford to turn down offers of financial support. At the same time, you shouldn’t blindly accept government or foundation grants simply because they’re offered. Some grants may come with excessive administrative burdens, cost inefficiencies and lost opportunities. Here’s how to evaluate them. Administrative and other burdens Smaller or newer nonprofits are at particular…

Not-for-profit executives can be perfectionists — they often know exactly how they want something done and believe they’re the only ones capable of doing it right. Unfortunately, this attitude can alienate staffers and make it difficult to mentor successors and build effective teams. Then there’s the problem of time: There are only so many hours…

A new refugee resettlement charity had only just begun operating when its director realized something: She wasn’t sure how to value the many donations of clothing and household goods community members had dropped off. Was value simply the price her not-for-profit would charge if it sold the goods in a rummage sale or on an…

Does your board have a quick and easy way to assess your not-for-profit’s financial performance? It does if it has a dashboard with carefully chosen and up-to-date key performance indicators (KPIs). Dashboards can also be set up to provide critical information to multiple audiences regarding specific goals and fundraising campaigns. Here’s how you can get started.…

It’s been a long two years. But many not-for-profits are starting to plan in-person galas and other special events for this coming summer and autumn. If your organization is trying to get back to “normal” with a face-to-face fundraiser, understand that it’s likely to be more challenging to plan than in the past. Some of…

If risk wasn’t a nagging concern for nonprofits before the pandemic, it certainly is now. Health risks to staffers, volunteers and clients, and financial threats, including declining donations and increased incidence of fraud, now likely keep many executive directors up at night. But enterprise risk management (ERM) can help not-for-profit organizations find firmer ground. Here’s…

Whether your not-for-profit is continuing to hold videoconference board meetings or is back to in-person gatherings, you don’t want to waste members’ time. Board meetings need to be long enough to accomplish agenda items and keep your organization on track, but not so long that the meetings become tedious and unproductive. The key is good…

Since the beginning of the pandemic, financial markets have been riding a roller coaster. This volatility is a good reminder that if your nonprofit has an endowment, it could benefit from management by a professional investment advisor. Here’s how to find a qualified advisor. Nonprofit experience required Finding the right investment advisor for your organization…