Don’t Roll the Dice: Rules for Charitable Gaming Activities

Gaming can seem like an appealing and low-cost option for boosting nonprofit revenues. But bingo, poker tournaments, raffles and the like are subject to some strict tax rules and local laws where noncompliance could lead to penalties and even personal liability for board members. Here’s what you need to know: Unrelated business income Income from…

5 Critical Issues for Your Nonprofit’s Finance Committee

The role of a nonprofit’s finance committee is probably more important now than at any time since the 2008 financial crisis and ensuing Great Recession. Here are some of the areas your committee should focus on almost two years into the COVID-19 pandemic. 1. Cash flow Financial reserves have taken a hit across all types…

Employee Retention Credit: Get the Credit You Deserve

In response to the financial impact of the COVID-19 pandemic, the CARES Act established the employee retention credit (ERC) to encourage employers — including nonprofits — to keep employees on the payroll. The credit has been expanded and increased for 2021, but it’s also not too late for eligible employers to amend their 2020 employment…

Adding It Up: The Roles and Responsibilities of a Nonprofit Treasurer

When you think about it, it’s a bit inaccurate to refer to your organization as “nonprofit.” In fact, money is rarely far from the minds of your organization’s leaders. At least, it shouldn’t be. Like your for-profit counterparts, you can’t succeed without maintaining sound fiscal health. That’s why the title of “treasurer” is so much…

Most Couples Make Giving Decisions Together

When it comes to making charitable giving decisions, it turns out that most U.S. couples work together. But the number of such joint decision makers is on the decline. According to a study from the Lilly Family School of Philanthropy at Indiana University, about 62% of couples consult with each other. That’s down from 73%…

The Value of Volunteers: Benefits of an Effective Program

Nonprofit organizations generally operate on lean budgets. This means volunteers are a necessity for most nonprofits. Knowing their worth and having an effective and organized volunteer program will help your cause — and your bottom line. How much are they worth? Nonprofit advocacy group Independent Sector has estimated the value of the average American volunteer…

3 Tips for Managing Social Media Reputational Risks

Many nonprofits are counting on social media more than ever to boost fundraising and build awareness. These tools have proven increasingly effective in recent years, but you need to keep in mind the very real risks to reputation that come with social media. Employees, board members, volunteers and even unaffiliated third parties can cause significant…

COVID-19 Renews Focus on Fundraising Efficiency

COVID-19 has hit many nonprofits with a double whammy — fundraising has become more important due to a drop-off in revenues, yet the need to cut expenses makes it harder to fundraise. Nonprofits can’t afford to waste a single dollar on ineffective methods. But focusing solely on cost when evaluating different approaches generally isn’t the…

Nearly Half of Nonprofit Employees Expect Cost Cutting Measures in 2021

The 2020 Eagle Hill Consulting Nonprofit Survey, conducted by Ipsos, finds that 58% of more than 500 nonprofit employees polled say that their employer cut costs last year. And they predict similar changes in 2021, including program reductions (32%), hiring freezes (32%), salary reductions (23%), layoffs (20%) and furloughs (17%). Most employees (54%) report that…

GoFundMe Charity to Shut Down

GoFundMe Charity, the fundraising-dedicated website launched in November 2019, is now scheduled to shut down on September 30, 2021, when it will merge with GoFundMe.com. The last day to start a new fundraising campaign on the platform is June 30, 2021. Nonprofits have through December 31, 2021, to view and export their donor and fundraiser…