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Many nonprofit organizations have taken a leading role in advancing DEI initiatives in their communities, recognizing that they have a unique opportunity to model best practices and advocate for change. Financial policies are an important aspect of DEI, and organizations should ensure that their policies address financial equity and inclusion, along with other aspects of…

According to a 2022 survey by Morning Consult, 3/5 of people surveyed generally have trust in nonprofits, but 43% have experienced loss of trust with at least one organization. This survey also revealed that use of funds is the most critical financial trust area. There are several steps you can take to help your stakeholders…

You have a great idea to support your community and you are ready to take action! Setting up a nonprofit organization is a common next step. But, running a nonprofit is different than running a typical for profit entity and its a good idea to think through what this means before you get started. The…

Your auditors have been talking about it for years, and the time has finally come to implement the new lease standard. Beginning with fiscal years starting after December 15, 2021, financial statements and footnote disclosures will need to be updated to conform with the new leasing rules under ASC 842 and GASB 87. The new…

The taxability of nonprofit revenues is an area that often creates a lot of confusion for board members and staff. There is a tendency to think that nonprofits are exempt from all tax. But, the term “tax-exempt organization” really only refers to the federal status awarded to the entity under IRS tax code 501(c)3. Below…