A survey conducted by CAF America, a global nonprofit grant-making organization, found that 73% of the 880 organizations in 122 countries queried have seen a decline in contributions due to the COVID-19 pandemic. Half of those surveyed from April 30 through May 6, 2020, indicated that they expect to see revenue decline by more than…
Current economic challenges are leading many nonprofits to take a close look at their expenses. The costs of your facilities may be overlooked during a cost-cutting process because they seem unavoidable. But the choice between renting and buying property to house your organization can have substantial cost implications. This makes it important to evaluate the…
Troubling revenue losses COVID-19 hit nonprofits hard, fast and right where it hurts — revenues. Organizations of all kinds saw funding dry up as major events were canceled and donors held back in fear for their own financial stability. Based on surveys conducted from March through May 2020, for example, the Massachusetts Nonprofit Network found…
Your board is responsible for reviewing your nonprofit’s financial results so it can make sound decisions. But not every board member arrives at your organization with a financial background. Here are some suggestions for relaying some of the most vital information they need to know. Communicating the balance sheet A statement of financial position shows…
Why Arizona nonprofits should avoid certain gambling-related fundraisers As we are in our six month of dealing with the COVID-19 pandemic, many nonprofits are looking for creative ways to raise money. While they are looking at new fundraising avenues, they may be tempted to try approaches they have not used in the past. In addition,…
On August 8, 2020 President Trump signed four Executive Orders (EO) designed to provide additional relief to those impacted by the COVID-19 pandemic. The orders addressed enhanced unemployment payments, student loan relief, moratoriums on evictions, and a deferral of payroll taxes; it is the last order that I will be addressing in this post. Payroll…
The COVID-19 era makes board financial oversight more important than ever. The board of directors plays a special role in ensuring that an organization stays financially on track. This responsibility is magnified in the shadow of the COVID-19 crisis, which has often pushed donations and other revenue down while upping the need for services. Keeping…
The COVID-19 crisis and its economic fallout have many organizations hunting desperately for financial relief. While much has been made of the various governmental support programs, it’s also worth reviewing your insurance policy portfolio to determine if you qualify for coverage for some of your COVID-19-related losses and exposures. Below are some of the insurance…
The entire staff at Sechler Morgan has been touched by the seemingly overwhelming events 2020 has given us. As individuals, there are some things about which we can do little and must passively accept. But there are other issues where we can do much and must aggressively confront. It is not new to us, hearing…
A quick Google search for the phrase “nonprofit embezzlement” turns up thousands of news stories about thefts, ranging from relatively small amounts to millions of dollars. Regardless of the size of the misappropriation, the way a victimized organization responds can make or break its reputation, fundraising results and, in turn, ability to pursue its mission….
