When nonprofit boards struggle, the consequences ripple across the whole organization. Nonprofit consultant Mandy Pearce recently described the top three dysfunctions she has observed in nonprofit boards: Lack of clarity in board roles and responsibilities Lack of shared goals for the board and organization Lack of accountability for board participation and active engagement What activity…
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Budgeting isn’t just a financial exercise—it’s a roadmap for your nonprofit’s mission. A well-prepared budget does more than track dollars; it brings clarity, alignment, and accountability to everyone in the organization. When used thoughtfully, the budgeting process becomes a strategic tool that helps nonprofits stay mission-focused, adapt to challenges, and make informed decisions throughout the…
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What would make 2025 your best QuickBooks year ever? Actually, let’s expand that question. What would make 2025 your best year ever for managing the finances of your organization? A client recently told us that it would be a most memorable year for her if she could (edited for clarity): Implement a bookkeeping system for…
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UPDATE – The minimum salary threshold under the Fair Labor Standards Act that was supposed to increase effective July 1, 2024 has been shot down. The U.S. District Court for the Eastern District of Texas overturned the latest minimum salary requirements set by the Federal Department of Labor (FDOL). We now must look back to…
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Credit cards always seem to be a sore spot for nonprofits. Yet they are often essential for staff to carry out the organization’s business. Is it possible to make credit card administration any easier? First consider all these credit card management problems. Credit Card Sore Spots 1. To manage physical credit cards, some organizations use…
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Alternative title: I love you, I need you, unrestricted net assets! “Look at all this money we have! I don’t understand why we can’t pay the bills,” exclaimed Todd, a member of the board of directors, as he looked at the balance sheet. “What number are you looking at, Todd?” I asked. “Right here at…
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Mary Diegert is a recently retired CFO with 25 years’ experience in the nonprofit human services sector. She earned a master’s degree in Accounting and her CPA license (now lapsed) in the 80’s. Her most recent experience is fifteen years with a $20 million Catholic Charities agency in upstate New York. Her focus is on…
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On December 27, 2020, a new Covid-19 relief bill called the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (“the new bill”) was signed into law. While the new bill includes many benefits, a few provisions are especially interesting for nonprofits. Paycheck Protection Program Round 2 The new bill kicks off a new…
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Welcome to the second installment of our two-part series on nonprofit revenue recognition. In the first post of this two-part series we: Covered the history and background for the new revenue recognition standards; Explained how to distinguish between contributions and exchange transactions (important for today’s blog post); and Gave an overview of conditional contributions and…
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We have a few timely online learning opportunities to share with you! New Mediator Course In this era of strife we love that our friend Kate Otting, a professional mediator, has created several affordable online course packages for becoming a mediator. One thing that distinguishes her course from others is the wealth of practice you…
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