Occupational fraud is an unfortunate reality for just about every employer, nonprofit organization or otherwise. But you might be able to reduce the risk of costly losses if you understand some of the common traits of fraud perpetrators. The 2016 Report to the Nations on Occupational Fraud and Abuse from the Association of Certified Fraud Examiners ("ACFE") provides some useful insights on these characteristics.
Is your next board chair prepared to lead?
Only half of board chairpersons are prepared for their leadership role when they take on the post, according to a recent survey by the Alliance for Nonprofit Management.
Follow the rules and this fundraising tool could be a winner
Raffles have long been a popular fundraiser for nonprofits. They’re easy to produce, affordable for participants and reliable revenue generators.
Many non-profits dream of landing hefty corporate sponsorships to help pay for the costs of a conference, fundraiser, or other costly event. Money from deep pockets is optimal, but you don’t want the IRS to consider the payments “paid advertising”, and thus taxable as unrelated business income.
As people have become more vocal about socializing online, businesses have been listening. Social listening. And now not-for-profits are beginning to join them.
This new approach has become a cost-effective way organizations can see what interests their supporters, along with a great way to gain more momentum within their organization. So, what exactly is social listening, and how do I get started?
Not-for-profit organizations (“NFPs”) may not realize that operating outside their home state may create regulatory and tax compliance responsibilities. States have a vested interest in making sure that NFPs are operating for their intended charitable purposes, and are not fraudulently soliciting its residents for donations.
The Financial Accounting Standards Board, also known as FASB, has released Accounting Standards Update (“ASU”) 2016-14 with huge changes for Not-for-Profit Entities (“NFPs”). You’re probably wondering why there even was an update. Great question.
Everyone, it might seem, wants to know how effectively your not-for-profit is fulfilling its mission and running its operation. Performance, or outcome, measurement — essentially a way to determine the impact of a program or activity — can supply interested onlookers with the proof they need to know you’re doing your job. Unlike traditional measures, such as number of clients served or amount of donations received, these “super metrics” allow an organization to assess whether a program is achieving its intended results.
What would happen if your not-for-profit lost its federal tax-exempt status? The thought might send shivers down your spine, and it should. Here are reminders about some of the actions that are required — or should be avoided — to maintain your 501(c)(3) status.
Operating reserves aren’t a luxury — they’re a necessity for financially savvy nonprofits. Organizations without adequate operating reserves leave themselves vulnerable to the financial instability and damaged reputation that interruptions in incoming revenue might bring.