Recent News & Blog / Nonprofit
Nonprofit boards must remain vigilant as long as the crisis continues
It’s been a tough year for not-for-profits. Many have experienced an increased demand for services just as revenues have plummeted. Until the COVID-19 pandemic is over, your organization’s board of directors will likely play a special role in ensuring that it remains on track financially.
Principles to guide your nonprofit’s relationship with donors
In 1993, a consortium of philanthropic organizations came up with the Donor Bill of Rights to guide not-for-profits in their interactions with financial supporters. For the most part, the basic principles remain valid.
Using footnotes to disclose your nonprofit’s financial information
Does anyone actually read footnotes? If they’re financial statement footnotes, the answer is usually “yes.” Footnotes can provide donors, governmental supporters and other stakeholders with critical information about your not-for-profit.
How much insurance does your nonprofit need to mitigate risk?
A warning if your not-for-profit organization is looking for expenses to cut: Don’t skimp on insurance. Should your nonprofit experience a fire, major theft or other calamity, you’ll be glad you have the coverage.
Why your nonprofit must make time for accountability
“Accountability” may seem like one of those popular management concepts you know would be nice to implement if your not-for-profit had the time and budget.
Candid communication can help ease nonprofit staffers’ anxiety
It would be an understatement to say 2020 has been challenging.
Collective impact initiatives: All for one and one for all
Collective impact initiatives are growing among not-for-profits. Such initiatives are about more than collaboration. They represent the commitment of a group of organizations to a common agenda for solving a specific social problem. This group can include the nonprofits themselves, government agencies, businesses and constituent communities. Should your nonprofit participate in collective impact? Ask SEK's nonprofit advisors today!
What to do when the audit ends
Financial audits conducted by outside experts are among the most effective tools for revealing risks in not-for-profits. They help assure donors and other stakeholders about your stability — so long as you respond to the results appropriately.
How nonprofits should classify their workers for tax purposes
Employees or independent contractors? It’s not only for-profit companies that struggle with the question of how to classify workers for federal tax purposes.
Financial dashboards can steer your nonprofit toward financial success
Not-for-profits increasingly are adopting a corporate world tool: financial dashboards. A dashboard is a summary of an organization’s progress toward a specific goal over time — or a snapshot of its current situation.