Recent News & Blog / Nonprofit
Keep your nonprofit’s special event safe and successful
Most not-for-profits depend on special events to raise money, attract supporters and boost their profiles. But whether you’re hosting a formal dinner, golf tournament, holiday bazaar or other event, know that almost all special events encounter unexpected issues, if not downright emergencies. Contact the nonprofit advisors at SEK for help with creating a crisis management plan for your event.
Nonprofits: How to get foundations to say “yes” to your grant proposals
If your not-for-profit isn’t actively seeking grants from the many thousands of foundations in the United States, why not? In general, you’ll be the most successful at obtaining grants if you target foundations whose interests match your nonprofit’s mission and programs. Foundations usually like well-defined, data-driven projects that they can be confident will be completed. Contact the CPAs and nonprofit advisors at SEK for more suggestions.
Don’t let fraudsters ruin the most wonderful time of the year
The hubbub of the year-end giving season, combined with holiday absences, can make your nonprofit vulnerable to fraud. Read below for tips on preventing fraud in your nonprofit this holiday season or contact the nonprofit advisors at SEK with questions.
Clearing the cobwebs from your nonprofit’s program offerings
Whether your nonprofit’s program budget will be smaller or larger in 2025, this is a good time to review current offerings to assess which are effective and which aren’t. You may even find your organization is ignoring important needs in your community. Contact the nonprofit advisors with questions on the best methods to do so.
Giving season’s here! It’s time to engage donors for your nonprofit
At year end, particularly in December, more charitable donors give to not-for-profits. Whether this is for tax reasons or simple generosity, your nonprofit needs to use every available strategy to convince donors that you want and need their support. Contact the nonprofit advisors at SEK with questions about planned gifts.
You know your nonprofit is ethical. Put it in writing!
Even if you’re confident your organization operates with integrity, a code of ethics can help prevent fraud, guide staffers in their decision-making and reassure donors. Think of it as a statement of how you, your staff and volunteers, and your board practice ideals and put values into action. Contact the nonprofit advisors at SEK for help.
Nonprofit board independence is about more than avoiding conflicts of interest
Some nonprofit leaders mistakenly believe that board member independence is only about addressing conflicts of interest. But director independence goes beyond avoiding conflicts of interest. In fact, the IRS has a four-part definition of independence. If a majority of your organization’s board members don’t meet all four criteria, the IRS, donors and other stakeholders could call your governance into question. Contact the nonprofit advisors at SEK for details.
How to protect your nonprofit’s credit cards from misuse
Without a credit card use policy, you could have trouble responding satisfactorily if a staffer misuses your organization’s card. You may also have a hard time recovering funds lost as a result of improper charges. So it’s important to craft a policy explicitly stating that employees can’t use a work-issued card for personal expenses. Contact the CPAs and nonprofit advisors at SEK for help preventing fraud.
When your nonprofit’s debt-financed income is subject to tax
If your nonprofit has investment income, dividends, interest, rents and annuities, they’re generally excluded when calculating unrelated business income tax (UBIT). However, income from debt-financed property typically is taxable. So it’s important to segregate income from such property and include it in UBIT calculations to help ensure you don’t trigger unwanted IRS attention. Contact the CPAs and nonprofit advisors at SEK for information.
Welcome charitable pledges for your nonprofit— and account for them properly
Because pledges are promises to contribute later, not immediate contributions, accounting for them can be challenging. Accounting for pledges’ future value can also require accounting staffers to apply a “discount” rate when reporting them. Contact the CPAs and business advisors at SEK for help with what can be a tricky process.