Recent News & Blog / Nonprofit
Valuing tangible property donations isn’t as simple as you may think
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.
Even perfectionists can learn to love delegation
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.
Should your nonprofit accept that new grant?
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.
Tips to help nonprofits prevent accounting and tax errors
Although failing to file a Form 990 with the IRS when required to do so is probably a more serious mistake, filing it with data errors isn’t recommended. Similarly, your not-for-profit should strive to be as accurate as possible when preparing accounting and other tax documents.
Game on! Just make sure your nonprofit follows tax rules
If you’re starting to plan activities for a 2023 fundraiser, consider gaming — for example, bingo, poker, raffles and even casino-type games. Such games can be a great way to engage supporters and raise more revenue than your not-for-profit might otherwise.
Put an advisory board to work on your nonprofit’s challenges
A community health center desperately needed to upgrade its computer network. Unfortunately, the not-for-profit had little IT expertise on staff or on its board of directors.
How to ease staffer anxiety about your nonprofit’s future
Like every other organization, your not-for-profit is probably working hard to negotiate the challenges of high inflation and other economic threats. So you’d be forgiven for concentrating more on stretching every dollar than on your staffers’ financial anxieties.
Protecting your nonprofit from data breaches
By now, all organizations — for-profit and not-for-profit — know about the risk of cyberattacks. Why then, would any nonprofit fail to secure its network and digital assets? One reason is cost. Cybersecurity can be expensive. But it’s possible for nonprofits to lose more than they can afford. Contact the nonprofit advisors at SEK with your questions.
Why your nonprofit might want to compensate board members
Because most not-for-profit board members serve voluntarily, you may not have known compensating them was an option.
Putting accountability into practice
At its base, “accountability” means taking responsibility for outcomes — both good and bad. But one common byproduct of accountability is that results are actually more likely to be positive than negative.