Monitor Your Endowment –With the economic shifts, many nonprofits need to re-engage their finance committees to monitor their endowments and savings regularly and ensure they are safeguarded for the future. As leading financial advisor, Stephen Tosha of Merrill Lynch often quips, “’It is time...
These values help nonprofits make a lasting impact and build strong relationships. Impact Nonprofits aim to create meaningful outcomes. Focusing on impact means tracking real results instead of just activities. Example: rather than counting how many events were hosted, an education-focused nonprofit ...
Join Our Upcoming Free Webinar: Navigating Grant Uncertainty Federal grant cuts are sending shockwaves through the nonprofit sector, leaving many organizations questioning their financial stability. Some nonprofits are already feeling the impact, while others are bracing for potential funding disruptions. In...
There are many different types of NDAs, including: Standard: Protect trade secrets, intellectual property, and other sensitive information. Employee: Ensure that employees don’t share business information outside of the company. You can also consider including a non-solicitation agreement to make sur...
For one, nonprofit marketing can be challenging in that its ideas and causes can be harder to market and sell than products and services. On the upside, nonprofits—by their nature—have something thatbusiness-to-consumer(B2C) orbusiness-to-business(B2B) marketers lack: a well-defined mission...
GAAP are the accounting principles that all regulated U.S. entities, including publicly traded companies, government agencies, and nonprofits, must follow. These rules were set and are periodically revised by theFinancial Accounting Standards Board, an independent nonprofit organization whose members are...
For example, if your nonprofit is aiming to help homeless youth, determine how many young people are homeless or at risk in your region. Conduct a competitive analysis. Identify similar nonprofits or organizations in your area. Study their services, target audience, and how they communicate their...
Starting and running a nonprofit is a meaningful way to build a business while making positive change in society. But beyond your vision for creating impact, you’ll need to handle some complex logistics at first. Getting your nonprofit corporation off t
Because nonprofits are exempt from federal income tax, there are legal rules that each organization needs to follow to keep its status as a nonprofit. Nonprofit organizations can sell merchandise to fund operations, but income from gift shops and a nonprofit online store is often considered taxable...
While many private-sector companies struggle to hire good talent in a tight labor market, more than 70 percent of nonprofits participating in McKinsey’s Organizational Health Index (OHI) agree that they can attract the best talent to their organizations (Exhibit 1).7,” McKinse...