Recent News & Blog / Nonprofit
How to cut costs instead of your nonprofit’s staff
Due to federal funding reductions, some nonprofits may be tempted to conduct layoffs. Before you take this step, look for other ways to cut costs. Here are seven tips. Contact our nonprofit advisors with questions.
What your nonprofit should know about credit loss reporting rules
How much do you know about a relatively new accounting standard that applies to credit losses of nonprofits that follow Generally Accepted Accounting Principles? If your organization is subject to the current expected credit loss (CECL) rules, you need to get up to speed. Such accounting is complex, so consider engaging our nonprofit accounting professionals for help.
Put your nonprofit’s cybersecurity system to the “pen” test
How well does your nonprofit’s cybersecurity program protect you from hacking? Penetration (pen) testing helps find vulnerabilities so you can, if necessary, strengthen your defenses. Contact our nonprofit advisors for assistance with your nonprofit.
Beyond Boomers: How to engage younger generations with your nonprofit
Make sure your nonprofit marketing efforts are reaching Gen X, Millennials and Gen Z. Try to target them on the social media platforms they frequent. Gen Xers and Millennials like to make recurring donations and give via work while Gen Z members are more likely to use phone apps and social impact purchasing. Contact our nonprofit advisors for donation assistance.
Rebuilding your nonprofit’s operating reserves
If your nonprofit has operating reserves, they can help prevent service disruptions and an urgent search for alternate funding. If you don’t have reserves, create a formal written reserves policy as soon as possible. Our nonprofit advisors can assist you with establishing operating reserves if needed.
Regaining your nonprofit tax-exempt status
Has your not-for-profit lost its tax-exempt status because it failed to file its annual Form 990, 990-EZ or 990-N for three consecutive years? The good news is you can potentially file Form 1023 or 1024 (depending on circumstances) with the IRS for reinstatement. Because the reinstatement process can be confusing, contact SEK's nonprofit advisors. We can help you navigate IRS rules and prevent the situation from occurring again.
Making cost-allocation decisions for your nonprofit
Nonprofits often struggle with allocating program expenses properly. Yet the process is critical because your supporters want to know how you use financial resources. And you likely must comply with Financial Accounting Standards Board (FASB) guidance. Contact our nonprofit advisors with questions on your nonprofit's cost allocations.
Casino nights aren’t all fun and games for nonprofit events
Charitable fundraisers that feature games of chance help nonprofits raise millions of dollars every year. However, if you regularly host gaming fundraisers, you may be subject to unrelated business income tax. And wagering excise and occupational taxes could apply in some circumstances. Contact the nonprofit advisors at SEK for more information.
One from many: Why your nonprofit might want to federate
Federated nonprofits are single corporate entities with multiple chapters. There’s no one definitive legal structure for federated organizations. But local chapters generally operate independently and pay an amount to their national office in exchange for the name, branding and other benefits. Advantages can include economies of scale; a single, distinct brand; higher visibility; shared resources; and greater chapter-based accountability. Contact SEK's nonprofit advisors to learn more.
Make better branding your nonprofit’s 2025 New Year’s resolution
Here’s a nonprofit New Year’s resolution: Strengthen your brand. The first task is to identify what your nonprofit cares about, what it does, how it’s effective and why it deserves support. Contact SEK's nonprofit advisors for suggestions.