Financial Management

Retooling Your Reserves

It's been a decade since the Great Recession gave way to the last wave of "best practice" regarding financial reserves. A lot of organizations had rebuilt their reserves, in many cases with increased sophistication. However, the COVID-19 pandemic has required organizations to lean on reserves in new ways to navigate otherwise impossible choices.

Expired Tax Provisions Create Uncertainty for Nonprofits’ 2022 Finances

Last updated: February 10, 2022

David Heinen, Vice President for Public Policy and Advocacy, North Carolina Center for Nonprofits

As we enter the start of tax season, nonprofit leaders are concerned that their organizations’ finances may be challenged this year by the recent expiration of several temporary tax provisions, including the expanded child tax credit, the Employee Retention Tax Credit, and three tax incentives for charitable giving.

The Expanded and Improved Child Tax Credit

Global Study Finds Fraud Impacts Nonprofits - What Can Your Organization Do?

By Rob Zuengler and Jenny Dominguez, CliftonLarsonAllen
Reprinted with permission from CliftonLarsonAllen

Could your nonprofit afford to lose $639,000? According to a recent study, that amount of loss due to fraud is not out of the question. Occupational fraud is a real threat to nonprofits and it could be committed by anyone from an employee to an executive.

StrongNonprofits Toolkit for Financial Management

The StrongNonprofits Toolkit has been developed and maintained by the Wallace Foundation since 2009. It covers topics in nonprofit budgeting, cash flow, operations, data and analysis, audit readiness, plus governance and strategy. The toolkit has customizable resources to use in managing operations, pre-loaded calendars, and self assessment quizzes or checklists that seek to bolster a nonprofit's finance operations to build operational excellence.