Financial management can be tricky for private schools, especially when it comes to areas like fundraising, endowments, audits and strategic planning. That’s why we had four private school experts cover each of these topics in a webinar for private schools. Here’s a summary of each segment from panelists…
Nonprofit fundraising isn’t exactly a walk in the park. Most organizations struggle to bring in fundraising dollars. This can be especially difficult when your nonprofit’s board isn’t on board with fundraising. The board helps your nonprofit thrive. That can mean donating money, contributing their time or helping your organization make connections. At a recent webinar hosted by our Nonprofit Group, nonprofit fundraising expert Vince Connelly answered the audience’s questions on nonprofit fundraising. In this article, we’ll focus on Vince’s advice for engaging the board of directors in fundraising efforts.
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It’s no secret that technology has been evolving at light speed in the past few decades. If you need proof, just look at the development of computer and phone technology in the last ten years. The next big wave of manufacturing technology – as part of the fourth industrial revolution – is known as “Industry 4.0.”
Financial ratios and benchmarks can be used to assess the financial health of your nonprofit. These ratios and benchmarks can help management make decisions regarding organizational strategy and budgeting and, ultimately, help your nonprofit manage its resources. This financial data can also help donors or grantors determine whether to support your nonprofit.
Religious organizations may technically be classified as nonprofit organizations, yet they are subject to a unique set of accounting rules. Anyone providing accounting services within a religious organization must be aware of special policies that can affect the organization’s compliance and tax status.
Hiring a chief financial officer (CFO) for your nonprofit and hiring the right CFO are two very different things. While some accountants get their start at for-profit businesses, nonprofits have specific accounting and tax needs that differ from how accounting is done at private businesses. This means nonprofit CFOs need special training and expertise outside of the standard for-profit accounting and tax environment.