Nonprofit Blog

The latest finance, accounting, tax, audit and software news uniquely tailored for the nonprofit industry – private schools, foundations, museums, animal/environmental/social welfare, and church or faith-based organizations. Follow for the latest nonprofit trends, rule changes, best practices and free educational offerings.

Nonprofit Blog

Friday, December 11, 2020

Use Benchmarking Tools to Powerfully Tell Your Nonprofit’s Story

Nonprofits have an important story to tell key stakeholders, funders, donors, boards and peers. This story is what makes each organization unique, but nonprofits also share a common need to demonstrate how funding and operations are meeting mission goals. One of the best ways to effectively understand and tell your story is through benchmarking. This …

Wednesday, November 13, 2019

Determining Annual Dues Deductibility for Memberships

When members purchase annual memberships, it can be difficult to determine what portion of the membership dues may be deductible as charitable contributions. However, it is your organization’s responsibility to determine the approximate fair market value (FMV) the donor receives in exchange for their membership purchase and to notify the donor of the amount. The …

Monday, October 21, 2019

How Blockchain and Cryptocurrency Can Impact Private Education

Blockchain and cryptocurrency will revolutionize a wide range of industries in many ways — including private education.  Some of the impactful changes are still in an experimental phase, but the technology offers many immediate benefits to schools, including improved transparency and a broader donor base. It is also a potential solution to the pervasive problem …

Friday, August 9, 2019

Foundations: Best Practices for Technology Implementations

Technology systems are integral to achieving the greatest mission impact from your foundation’s grant dollars. But if you’re like most finance leaders, the current state of your technology infrastructure remains a barrier to these goals. Foundations need robust systems that accommodate the fluidity inherent in the grant-making process. Yet they are often hamstrung by systems …

Tuesday, July 30, 2019

Blockchain for Nonprofits: Greater Trust, More Donors, Lower Costs

Blockchain will revolutionize a wide range of industries in many ways. Its potential to change nonprofits goes less noticed than some other use cases, but its ultimate impact on nonprofit organizations will be substantial. Some of the significant changes are still in an experimental phase, but there are many immediate benefits to preparing a nonprofit …

Monday, July 1, 2019

Lessons Learned From Nonprofits on the Digital Transformation Journey

Digital transformation is happening — and not just in the realm of Fortune 500 and tech-based companies. This trend of fundamentally rethinking how organizations deliver value to constituents is becoming mainstream in nearly every sector of the for-profit and nonprofit world. And small, lean organizations might have more to gain from investing in technology to …

Monday, June 4, 2018

Do You Know How Blockchain Could Affect Your Nonprofit?

Remember the early days of the internet? In the 1990s, most of us could not have predicted how that new technology would pervade nearly every aspect of our lives. In many ways, blockchain technology is a similar phenomenon. Most of us first heard about blockchain as the backbone of the cryptocurrency Bitcoin. While Bitcoin still …

Friday, June 1, 2018

Is Your Tax-Exempt Status in Jeopardy?

Dozens of Connecticut nonprofits are facing the prospect of paying large property tax bills after their local tax-exempt status was revoked. While the justification and motivation behind these assessments can be debated, the bottom line is that tax exemption is far from guaranteed. Maintaining tax exemption—at the federal, state and local levels—requires diligent attention. Nonprofits …

Thursday, April 5, 2018

Are Your Operating Reserves Enough for Your Next ‘Rainy Day’?

What would happen if a major fundraising event had to be delayed or a couple of long-expected grants fell through? Where would your organization find the dollars to continue operations until you could recover those lost funds? Just like it’s important for individuals and families to set aside “rainy day” funds for unexpected events, it …

Wednesday, January 3, 2018

Bring the Meeting to Order: 7 Steps for Choosing the Right Board Portal

There’s no getting around it: Preparing for a board meeting can be ponderous—and expensive—for a nonprofit. Someone has to print, collate and distribute all those materials in advance of the meeting. Worse, board members aren’t able to receive last-minute updates or revisions to materials until they arrive at the meeting. Then there’s the issue of …

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