A recent study by the Stanford Graduate School of Business in collaboration with BoardSource and GuideStar found that although many nonprofit organizations devote significant efforts to measuring performance, nonprofit directors say the efforts are falling short. Performance measurement needs to…
While nonprofit organizations have rebounded from the most crippling effects of the 2008 economic crisis, the recenty published State of the Nonprofit Sector Survey* shows many still have significant challenges ahead. For the seventh year in a row, a majority…
Does your organization reimburse staff and volunteers for expenses they incur while conducting business or traveling on behalf of the organization? If so, you’ll want to have a clear written policy for paying or reimbursing those expenses. Two Alternatives Under…
Serving on a nonprofit board entails many responsibilities. Board members are expected to advocate for the organization, make prudent decisions, ensure the organization complies with regulations, and plan for the future. Filling a vacant seat is an important board function.…
Nonprofit directors and officers often view their personal liability exposure as much lower than that of their for-profit counterparts. Consequently, many nonprofits carry no or inadequate personal liability insurance for directors and board members. In reality, claims naming nonprofit directors…
Accepting a corporate sponsorship to help fund one or a series of events or simply to provide ongoing support for your organization’s programs and operations can benefit both the organization and the corporation — if the sponsorship is arranged properly.…
A recent report* suggests that retaining donors remains challenging for many organizations. The report examines the 2013 – 2014 fundraising results of 8,025 U.S. nonprofit organizations — most of them small to midsize organizations — averaging $833,475 in annual giving.…
How valuable are volunteers? The quantifiable answer is $22.55 per hour.* But that number doesn’t account for the intangibles, such as enthusiasm, creativity, and dedication, that volunteers may bring to the table. Nonprofit organizations are faced with many challenges: to…
Tax-exempt organizations generally don’t have to pay any federal income tax. But an organization that has paid employees must collect payroll taxes and timely remit them to the IRS. As tempting as it may be to use those funds to…
A Hot Button Issue When it comes to executive compensation and benefits, the public expects charities to be transparent and accountable. The idea that organizations that receive public support would provide executives with exorbitant compensation packages does not sit well.…
In February, the U.S. Bureau of Labor Statistics published data on volunteering in America.* According to the report, approximately one in four Americans (25.3%) volunteered between September 2013 and September 2014. The volunteer rate for women was higher than for…
Organizations that are tax exempt under IRS Section 501(c)(3) vary significantly in size and mission. But they all have one thing in common. All must comply with federal tax laws, including the requirement to make certain documents available to the…
Start with a clear picture of its roles and responsibilities Public companies have been required to have an audit committee for about a decade now (due to the Sarbanes-Oxley Act of 2002), and many nonprofits have started their own such…
Nonprofit organizations typically depend on a variety of funding to keep them alive and well. They need funds to pay their bills, pay their staffs and pay for the costs of running their programs. But savvy nonprofits know that not…
If your nonprofit became a victim of fraud, it wouldn’t just hurt your organization’s bottom line — the infraction also could do devastating damage to your reputation. By implementing some simple controls, though, your organization can help protect itself from…
W&D’s last Nonprofit Executive Briefing and Networking event focused on Unrelated Business Income (UBI). Here are some highlights: Like other nonprofits, your organization probably has searched for new sources of revenue during the recession and economic slump. Hopefully, though, you…
Many of your donors are now in the process of preparing their 2014 tax returns. You may also have just completed or are still preparing acknowledgement letters thanking them for their 2014 contributions. We know you are aware of the…
Like many businesses in the for-profit sector, nonprofit organizations need to ensure they are continuing to comply with the Affordable Care Act (ACA). Organizations that fail to comply may face stiff penalties. Shared Responsibility Payments Generally, the ACA requires that…
In December 2014, the Obama administration finalized the Office of Management and Budget’s (OMB’s) Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, commonly referred to as the Uniform Guidance. The rules are effective for new awards made…
