Seven Tips That Make Creating a Budget a Little Easier
Seven Tips That Make Creating a Budget a Little Easier June 30 marks the end of the fiscal year for many nonprofits. In the weeks prior, these organizations are busy setting the strategy for the year ahead and creating a budget that will help them achieve their mission goals. But creating (and passing) a budget […]
The Three Essential Duties of a Nonprofit Board Member
In the first few weeks of any new year, there is a ritual among nonprofit organizations that is as regular as the changing of the guards at Buckingham Palace. Boards of directors come together to map out the year ahead, review budgets, and welcome their newly elected members. Typically, new members have been selected because […]
Five Tips for Greater Financial Sustainability in 2015
It is an incontrovertible truth. Nonprofits cannot survive on good intentions alone. No matter how noble the cause, every nonprofit must first establish a certain level of ongoing, financial sustainability to support their operations. But this isn’t always as easy as it seems; many leaders will attest that more of their working hours are spent […]
Self-Dealing in St. Louis and Lessons Learned
In April of this year, the news outlets in St. Louis, Missouri turned their attention to a story about the Zoo-Museum District board that awarded a multi-million dollar contract to a design firm to build a pavilion within the St. Louis Science Center. The contract, ranging from $1.2 to $2.5 million was, unbeknownst to the […]
Does Your Bookkeeper Drive an Airbus?
Fifty billion dollars. It’s a staggering sum of money that most people can only fantasize about, and when asked, what you would do with such an outrageous amount of money, there is a struggle to translate into everyday terms. To provide some perspective, here’s a fun shopping list of things you could buy if you […]
Why Understanding Your Form 1023 is “Mission Critical”
Last month I gave a seminar on revenue diversification to a group of people who serve on the boards of a wide variety of nonprofit organizations. In my work, I have the pleasure of meeting dynamic leaders who are dedicated to serving others and to providing their organizations with the oversight that will help them […]
Peeling Back the Covers of Your Finance Department
I recently delivered a presentation at the Essex County Institute for Trustees, a full day conference for board members and executive directors of nonprofit organizations. While the subject I covered, nonprofit finance, is by no means a new subject, many organizations still struggle to optimize their operations in order to make the most impact with […]
Proposed Changes for New York Nonprofits
In June of 2011, New York Attorney General Eric T. Schneiderman announced the formation of a Leadership Committee for Nonprofit Revitalization. The task force, composed of 29 leaders in the nonprofit sector from across the state, was charged with presenting a series of recommendations to reduce regulatory burden and costs on nonprofits while strengthening nonprofit […]
Fiduciary Responsibility Training
Teachers get professional development to maintain their professional certification. Doctors, nurses and other healthcare professionals also take classes and engage in professional development. As a CPA, I have to maintain my professional credentials through education. (Continuing professional education (CPE) is required for CPAs to maintain their professional competence and provide quality professional services.)
Everyone Gets Rated
Your favorite restaurant has one. Movies have them. If you are active in social media you probably have two or three or twenty. Nonprofits have them too. A rating. Or should we say, another rating. A more in-depth rating.
