New revenue guidance provides direction to nonprofits

In 2014, the Financial Accounting Standards Board (FASB) issued a new standard on revenue recognition (ASU 2014- 09). The ASU was intended to clarify and standardize across various sectors revenue reporting. But many nonprofits found the new standard confusing because it didn’t account for the unique nature of revenue sources such as contributions and grants. […]

Educating donors about what they can — and can’t — deduct

Education may not officially be part of your nonprofit’s mission. But while working with donors, you’ve probably noticed that many are confused about the federal tax deductibility of their contributions. To help prevent unwelcome surprises when donors file their returns, inform them about the tax benefits of different types of donations. Cash, ordinary income and […]

How to secure lasting corporate support

According to Giving USA, businesses donated $20.77 billion to charity in 2017. Even if your organization already benefits from this largesse, you’d probably like to increase the amount you receive from companies and find additional ways to partner with the for-profit sector. Increasing corporate commitment is similar to establishing relationships with individual donors, but there […]

Planning can help your nonprofit minimize negative effects

Months after the Tax Cuts and Jobs Act (TCJA) was signed into law, nonprofits are still trying to assess its consequences. Some of the early proposals that raised alarms in the charitable sector — such as a repeal of the Johnson amendment — didn’t make it into the final version of the law. But there’s […]

Using planned gifts to help secure your nonprofit’s future

Planned (also known as deferred) gifts come as close to a sure thing as your nonprofit will ever likely encounter. They’re often more substantial than other types of donations and, because they specify an amount and date (or event, such as the death of the donor), they can help you secure your organization’s future with […]

Microdonations matter now more than ever

At 80 million strong, Millennials now make up the largest chunk of the U.S. population. But because they’re often still in school or just beginning careers, they generally don’t have the financial resources to make large charitable gifts. Another fact about Millennials: They use their mobile devices to do everything. What logically follows is that […]

Data analytics provides solutions to many nonprofit challenges

If your nonprofit wants to improve budgeting, forecasting, fundraising or other functions but is having a hard time identifying both problems and solutions, data analytics can help. This form of business intelligence is already considered invaluable in the for-profit world. But it can be just as useful to nonprofits. Goal: informed decision making Data analytics […]

3 traits of growth-oriented nonprofits

What does it take to grow a nonprofit from a concept to a $2 million-plus revenue organization? A November 2016 study attempted to answer this question by surveying 200 social entrepreneurs funded by impact investing portfolios such as the Skoll Foundation and Silicon Valley Social Venture Fund. Even if your organization’s growth goals are relatively […]

5 tips to find and keep event sponsors

Your special event’s attendees are critical to its success. But for any successful fundraiser, individual participants and donors are only half the equation. Corporate sponsors are the other half, whether they’re local businesses, Fortune 500 companies or in-kind service providers. Here are five tips for finding — and keeping — these valuable supporters. Tip #1: […]

Volunteers are a valuable financial asset

How much are your volunteers worth? Independent Sector, a nonprofit advocacy group, has estimated the value of the average American volunteer at $23.56 an hour. Volunteers who perform specialized services — for example, an accountant who volunteers to prepare your nonprofit’s tax return — are, arguably, even more valuable. Whether your entire workforce is unpaid […]