When Accounting and Development teams don’t work well together, the situation can lead to more than employee hostility and conflict. It can affect the not-for-profit’s financial statements and lead to the forfeiture of grant funds. To ensure the staffers in your Accounting and Development departments communicate fluidly, you may need to revise certain procedures and […]
Filed under: General by OSA&C Tuesday, March 7th, 2023
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A community health center desperately needed to upgrade its computer network. Unfortunately, the not-for-profit had little IT expertise on staff or on its board of directors. That’s when it decided to form an advisory committee made up of people who could analyze the situation and help guide IT decision-making. This included a retired technology company […]
Filed under: General by OSA&C Tuesday, January 24th, 2023
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Most not-for-profits can’t afford to turn down offers of financial support. At the same time, you shouldn’t blindly accept government or foundation grants simply because they’re offered. Some grants may come with excessive administrative burdens, cost inefficiencies and lost opportunities. Here’s how to evaluate them. Administrative and other burdens Smaller or newer nonprofits are at particular […]
Filed under: General by OSA&C Tuesday, January 10th, 2023
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Financial reporting isn’t all about profits. Not-for-profit entities can also benefit from implementing formal accounting processes. From preparing budgets and monitoring financial results to paying invoices and handling payroll tax, there’s a lot that falls under the accounting umbrella. Are these tasks, and others, being managed as efficiently at your organization as they could be? […]
Filed under: General by OSA&C Tuesday, December 27th, 2022
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By now, all organizations — for-profit and not-for-profit — know about the risk of cyberattacks. Why then, would any nonprofit fail to secure its network and digital assets? One reason is cost. Cybersecurity can be expensive. Yet according to IBM’s “2022 Cost of a Data Breach Report,” a data breach in the United States leads to […]
Filed under: General by OSA&C Tuesday, December 13th, 2022
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If you’re looking for an affordable training for your Not-for-Profit, this is a great opportunity. This 2023 series that they are offering, is designed to strengthen your skill set and move your organization’s mission forward. Professional Development Series 2023 – Nonprofit Center of Northeast Florida https://bit.ly/3uh3in7
Filed under: General by OSA&C Thursday, December 1st, 2022
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First the COVID-19 pandemic wreaked havoc on not-for-profit finances and operations. Now, many organizations are worried about how high inflation and a possible recession might interfere with their plans. To help prevent service disruptions and other negative outcomes, focus on building up operating reserves. Even if you can afford to divert only a small amount […]
Filed under: General by OSA&C Tuesday, November 29th, 2022
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Religious congregations usually enjoy greater protection from federal government oversight than other not-for-profit organizations. For example, the IRS can’t conduct a “church tax inquiry” unless a high-level Treasury Department official has written evidence that a religious organization has violated tax-exempt rules. However, you’d do your faith group a great disservice it you failed to observe IRS […]
Filed under: General by OSA&C Tuesday, November 15th, 2022
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Whew! That’s probably your reaction when outside experts announce that their audit of your not-for-profit is complete. But even if auditors have left your premises and returned the documents they’ve reviewed, the work isn’t really over. Not only do your executive director and board need to review the audit report, but it may be necessary […]
Filed under: General by OSA&C Tuesday, November 1st, 2022
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People give to charity for many reasons — to “make a difference” or “give back,” to reduce their tax burden and even to impress their peers. These many motivations can be frustrating for not-for-profits looking for a magic formula. In the absence of one, you need to keep your eyes and ears open and be […]
Filed under: General by OSA&C Wednesday, October 19th, 2022
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