Nonprofit Management
Article | July 15, 2022
When those in the nonprofit sector consider “compliance” the first thing that often comes to mind, and rightly so, is maintaining nonprofit status with the Internal Revenue Service. That makes sense, because failure to properly maintain nonprofit status has significant implications on taxes and can negatively impact fundraising. But compliance for nonprofits shouldn’t stop there. A comprehensive, documented compliance program, that includes privacy, security, marketing, donor and grantee diligence, and vendor management, for example, can go a long way to protecting the organization, its donors, and its constituents.
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Nonprofit Management
Article | July 13, 2022
It’s not business as usual, which means that your nonprofit marketing efforts have to adjust and change. Dynamism and adaptability are necessary for every organization in the current environment, especially for nonprofits. We understand that the need in our communities is only going to increase in the weeks and months ahead, which means nonprofits have to nurture relationships — and strengthen them.
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Nonprofit Management
Article | July 12, 2022
"Soft skills" are a hot topic of discussion in recent years, especially in the business world. Many companies are beginning to prioritize hiring candidates with these interpersonal attributes because it’s easy to teach someone how to do a task. It’s much harder to teach people communication, problem-solving, and relational skills. Nonprofits are no exception. "Soft skills" are the unquantifiable abilities that help you build healthy relationships, communicate effectively, and make you an excellent fundraiser. Lacking these attributes could cause you to miss or misunderstand important things in conversations with current and potential donors (and your staff). Because so much fundraising happens online now (via websites, social media, and the telephone), it’s easy to assume that these soft skills are less valuable. On the contrary, they’re actually more important because every interaction carries more weight. We rounded up three soft skills every development professional should cultivate to boost your online fundraising.
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Nonprofit Management
Article | July 28, 2022
While not-for-profit organizations have different missions and objectives than for-profit businesses, both need the appropriate management team and operational procedures to operate and develop. Unfortunately, maintaining good business processes can be problematic in the not-for-profit sector due to funding, staffing, and management resource limitations, which prevent companies from attaining their full potential.
Through this article, you can learn about business tactics that would help build a strong foundation and structure for your non-profit organization to reach its full potential.
Management and Board Supervision
Management and its governing board must understand their roles, responsibilities, and authority. The rules, processes, and board training materials of the not-for-profit should formally reflect this knowledge. Board members need to be trained and made aware of their duties. Depending on the size of the organization and the backgrounds of its board members, the training's regularity and formality will probably change. CPA firms and other organizations offer resources and instruction on good board procedures. The training should include organization-specific topics, including the entity's programs, activities, mission and philosophy, strategy, finances, and the board's relationships with the organization and its employees.
Management of Finance and Cash Flow
For any firm, having strong finances is essential. The majority of not-for-profit organizations create annual budgets, but many fail to take into account setting up operating reserves or keeping track of and anticipating unrestricted net assets and cash flows. A formal operational reserve policy that outlines guidelines for how and when the reserves can be used as well as how they are funded should exist and be authorized by the board.
Implementing Technology
Investment in IT ought to be included in the overall strategy. For not-for-profit organizations, there are numerous options for systems and software, including cloud-based resources, in areas including general accounting, donor administration, record retention, and management reporting. Monthly-fee subscriptions could offer hosting, better functionality at a reduced price, and little IT support. The market for cloud-based services has improved in recent years, offering higher quality at significantly lower prices. In addition, many cloud service providers give discounts to not-for-profit organizations.
Adhering to these above-mentioned business tactics would undoubtedly help your non-profit organization be structurally sound with a solid foundation. However, to develop a value proposition and new revenue sources, leadership must be able to view a not-for-profit company differently.
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