The decision to establish an endowment may be prompted by the acceptance of a particular gift, a desire to establish a perpetual fund in honor of the organization’s founder, or the need to ensure the organization’s financial sustainability. The principal of an endowment fund – the original gift or gifts that comprise such fund – …
Losing your tax-exempt status or your good standing with a state agency can be a stressful experience for any nonprofit. However, understanding why it happened and how to regain your status is the first step toward getting back on track. Whether the revocation or loss of good standing stems from the Internal Revenue Service (IRS), …
Donor-advised funds (DAFs) are an increasingly popular way for individuals to manage charitable donations while providing an excellent potential funding source for charities. As nonprofit leaders and fundraisers look to diversify revenue, understanding how DAFs work, their benefits, and their challenges can empower organizations to build long-term donor relationships and financial stability. What is a …
Nonprofit leaders face many challenges, from managing resources to meeting regulatory requirements. Unfortunately, scammers routinely target nonprofits by sending fraudulent letters disguised as official government forms. We regularly receive inquiries from concerned nonprofit clients who have received Statement of Information and “Minutes” scam letters, which demand fees for compliance-related services that are not required by …
Introduction Nonprofit organizations today face a growing array of risks that threaten their ability to fulfill their missions. From cyber threats to regulatory changes and financial uncertainties, the challenges are numerous and increasingly complex. As these risks continue to emerge, taking steps to affirmatively protect nonprofit assets has become more critical than ever. In this …
In the realm of nonprofit organizations, maintaining thorough and accurate records is not only a best practice but often a legal requirement. Among these essential records is the minute book, a vital repository of organizational history and decisions. This blog post will explore the importance of minute books for nonprofits, what they should contain, the …
