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Financial Management

“Full Cost” Is the Way Forward

Jeanne Tedrow, President & CEO, North Carolina Center for Nonprofits

Managing a nonprofit’s finances is no small or easy task. Nonprofits and those who seek to do good while making a difference in our communities are to be commended for their ability to manage resources and revenue. More often than not, nonprofits make a way when many would say there appears to be no way. To make things happen for the good, they become creative as they leverage financial support with in-kind donations and volunteer labor.

Nonprofit Strategic Technology Planning Guide

Nonprofit Strategic Technology Planning Guide offers a step-by-step approach to designing a long-term technology plan for your nonprofit. It identifies specific meetings you would need to have with your technology steering committee and other stakeholders in each phase, deliverables to achieve at each step of the strategic planning process, and tools for needs such as calculating Total Cost of Ownership.

What if pizza shops had to manage their money like a nonprofit?

Jeanne Tedrow, President and CEO, of North Carolina Center for Nonprofits.

Imagine a customer walking into a pizza shop to order a pizza, then only wanting to pay for the ingredients – flour, sauce, toppings, cheese. (See Pizza and a Laugh ‒ A Reminder about Your Nonprofit Financial Stress Level, Nonprofit Quarterly, December 18, 2018.)

Gift Acceptance Policies

Your Form 990 asks whether a nonprofit has a "gift acceptance policy" that requires the review of any "non-standard gifts" (gifts other than cash or check). Additionally, a written gift acceptance policy can help manage the expectations of donors, (while treating them with respect) and also serve as guidance for board and staff members who are either on the asking, or receiving, end of contributions.

How New Tax Laws Affect Nonprofits

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

On December 22, 2017, President Donald Trump signed into law a tax reform plan (H.R. 1) that cuts individual and corporate income tax rates and makes a variety of other changes to the Internal Revenue Code. Several parts of the tax plan affect the work of nonprofits.

It’s Budget Season. Are You Accounting for the Right Things?

Jay Wilkinson, Firespring

No doubt you’ve heard about this, and like many good nonprofit leaders, have done your best to refute it.

It’s dubbed a myth for good reason. Yet most nonprofits feel pressured to do as much as possible with as little as possible when it comes to running their organization. The Overhead Myth still exists, and donors still scrutinize nonprofits, wondering what percentage of their gift actually goes toward the “cause.” As if dollars that support infrastructure don’t also support the mission.

Sales Tax Exemption

Under current law, charitable nonprofits in North Carolina pay sales and use tax on their purchases and can apply for semi-annual refunds of the taxes they pay. A system of sales tax exemption would save nonprofits time and reduce administrative burdens. Bipartisan bills in both the House (H.B. 882) and Senate (S.397) would replace the nonprofit sales tax refund system with sales tax exemption for most 501(c)(3) nonprofits.