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5 Simple Steps To a Better Nonprofit Budget

By |October 25th, 2017|

Preparing your not-for-profit’s annual budget is probably one of the least appealing parts of your job. Here’s how to make the process a little less painful.

1. Count your chickens. Before you start allocating resources, figure out what they are. This includes not only the amount of your income, but its nature. Remember that restricted […]

Grants can help firm up your nonprofit’s financial foundation

By |October 24th, 2017|

There are more than 87,000 foundations in the United States — including family, corporate and community foundations — according to the Foundation Center. If your not-for-profit isn’t actively seeking grants from these groups, you’re neglecting a potentially significant income source.

Know your target
Probably the most important thing to remember when approaching foundations is that they […]

Why Your Nonprofit Must Avoid Excess Benefit Transactions

By |July 6th, 2017|

Not-for-profits that ignore the IRS’s private benefit and private inurement provisions do so at their own peril. These rules prohibit an individual inside or outside a nonprofit from reaping an excess benefit from the organization’s transactions. Violation of such rules can have devastating consequences.

Defining terms

A private benefit is any payment or transfer of assets […]

5 Tips for Successful Nonprofit Succession

By |May 31st, 2017|

Every not-for-profit organization needs a comprehensive succession plan to ensure smooth leadership transitions. Here are five tips for making a written plan successful:

1. Look within. It’s important to develop employees who can move up the ladder when an executive director or other senior manager leaves. But don’t rule out hiring an outsider. Promoting from within […]