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 […]
Category: Nonprofit
Attracting nonprofit execs with creative compensation mixes
The IRS’s reasonable compensation rule sometimes may seem like an obstacle to attracting and retaining qualified nonprofit executives. Although the rule is intended to prevent “private inurement” or “excess benefits,” it ultimately restricts what you can offer a candidate. Of course, some nonprofits simply don’t have the means — or their donors object to using […]
Should you pay board members?
Contrary to what many believe, it’s legal — and in some cases, necessary — to compensate nonprofit board members. For example, paying compensation can help attract well-known business leaders or people with specialized expertise. It might also be appropriate if board members are expected to invest significant time and effort in the role, or if […]
5 tips for successful nonprofit succession
Every nonprofit organization needs a comprehensive succession plan to ensure smooth leadership transitions. Here are five tips for making a written plan successful: Look within. It’s important to develop employees who can move up the ladder when an executive director or other senior manager leaves. But don’t rule out hiring an outsider. Promoting from within […]
How nonprofits can treat “Founder’s Syndrome”
Of the many afflictions that can impede a nonprofit organization’s growth, one of the more deadly is “Founder’s Syndrome.” This occurs when a single individual — typically the founder, executive director or other long-term leader — wields a disproportionate amount of power and resists efforts to redistribute authority. Fortunately, there’s a potential cure. Note the […]
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 […]
Facilitating a smooth independent audit
Few of us enjoy taking tests, and unfortunately that’s what independent audits sometimes feel like. Even if you have no reason to be anxious about what your nonprofit’s auditor will find, preparing for and accommodating an audit can be stressful for you and your staff. But if you understand what the process entails and ensure […]
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: […]
Should you outsource HR management?
If your nonprofit organization has too much work and not enough staff to go around, consider outsourcing your human resources function. It could give your internal team more time to spend on other core duties, mission-driven programs and strategic plans. Benefits and drawbacks Labor-intensive responsibilities such as recruiting, training, benefits planning and administration, compliance monitoring, […]
Timekeeping doesn’t have to be a burden
There are several good reasons for nonprofits to make timekeeping a priority — including the requirements of government and private funders. But even if you weren’t obligated to track and allocate employee time, careful timekeeping can make your organization stronger. If your staffers aren’t always enthusiastic about the task, take heart. Newer software helps make […]