Are You Covered? Potential Insurance Relief for COVID-19 Losses

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…

Our Statement on Current Affairs

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…

Secure a Corporate Sponsor

These best practices could bolster your chances Corporate giving has experienced solid growth in the last few years, according to recent editions of “Giving USA,” an annual report on philanthropy from the Lilly Family School of Philanthropy at Indiana University-Purdue. Even with the economic uncertainty associated with the novel coronavirus (COVID-19), many corporations will be…

The CARES Act: What’s in it for Nonprofits?

When Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act in late March, much attention was paid to Economic Impact Payments for individuals and various types of assistance for businesses. But the 880-page law also contains some assistance that could prove critical to nonprofits as they struggle to deal with the financial impact…

Succession Planning: The Future is Now

When a senior leader leaves a nonprofit, it can affect every aspect of the organization. Whether the departure is planned, such as a retirement, or is unexpected due to a resignation, termination or death, you should have a plan to reduce disruption and ensure continuity. Succession planning is perhaps more important than ever in a…

Are You Holding a Raffle?

This ticket to revenue carries compliance concerns Raffles are tried-and-true fundraising vehicles. They can be attractive to your constituents, easy to put together and profitable. But organizations need to put on their “compliance hats” when holding this activity. Each state has its own set of laws regulating raffles. And all organizations must comply with federal…

Corporate Sponsorships: Tax-free Gift or Taxable Income?

Done right, corporate sponsorships can pay off for both the nonprofits that receive funding and the sponsors that receive valuable branding opportunities. Done wrong, though, your organization could end up on the hook for unrelated business income tax (UBIT). You need to understand how to navigate the nuances before you wade in. Identify qualified sponsorship…

How You Should Respond After an Outside Audit

Regular outside financial audits are among the most effective tools for revealing financial risks in a timely manner. And they assure your donors and other stakeholders about your stability — so long as you respond to the results appropriately. Failing to act on issues identified in an audit isn’t only a waste of money. It…

CFOs Deliver Financial Know-how — But Does Your Nonprofit Really Need One?

Some executive directors, board members and others in nonprofit leadership roles may look at the financial side of their organization and muse, “We could do so much better.” You may think you can boost financial performance by hiring a chief financial officer to help “run the show.” But there’s a lot to consider before taking…

Returnships Might Fill Your Talent Gap

In today’s tight job market, employers must innovate when it comes to filling their positions. A growing number of for-profit businesses — including such big names as Walmart, BP, Goldman Sachs and JP Morgan Chase & Co. — have found success with returnship programs. These arrangements also could provide welcome and valuable relief for nonprofits…