Recent News & Blog / Nonprofit
“Privacy, please” when your nonprofit stores sensitive data
A critical issue that’s neglected too often by not-for-profits is the protection of private data. Assess your organization’s risk and ensure your security procedures protect records. Make sure your nonprofit complies with all applicable privacy laws.
Nonprofits: How to attract the best, most qualified interns
Internships are an excellent way to build a pipeline of future employees and leaders. Although students and recent graduates are often eager, but many also expect to be paid. This can be tough if your budget is already strained. Also, before you engage interns, make sure you know whether the positions are subject to FLSA regulations.
Who does what in your nonprofit organization?
To avoid confusion and misunderstandings, your nonprofit needs to establish guidelines about the roles and responsibilities of employees vs. board members. Draw “lanes” as early as orientation. Provide individuals with descriptions of their duties and offer specific examples illustrating their scope. Contact our nonprofit advisors with questions.
Your nonprofit’s board needs to know these financial warning signs
If you’re on the board of directors for an organization whose finances aren’t in good shape, you and the rest of the board play a vital role in keeping your nonprofit in fighting shape. So keep your eyes open for these warning signs. Contact SEK's nonprofit advisors to review your financial statements and budget to assess your organization’s resilience.
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.