Nonprofit Essentials | The importance of cash management, visual storytelling, two national webinar opportunities, and more

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Leaves are changing colors, clocks are falling back, and giving season is right around the corner. It must be November. This month, we bring you insights on the importance and options for managing your nonprofit’s cash, why and how to embrace visual storytelling, information on two upcoming free national webinars, and additional resources – including guidance from the IRS if your nonprofit was targeted by Employee Retention Tax Credit scammers. We conclude with highlighting “Your Voices” in response to last month’s question and invite you to share your experiences in response to this month’s query.

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🔷November Essentials🔷

Article on Responsibly Embracing AI in Fundraising

Why cash management is more important than ever for nonprofits

Economic forces over the past couple years have driven costs higher, but they've also created new opportunities for nonprofits to receive greater yields on their cash. From Certificates of Deposit (CDs) to money market funds, there are a variety of options for nonprofits to consider, while still keeping risk levels low. If all your nonprofit’s cash is sitting in a checking account gaining a fraction of a percent in interest, your organization is actually losing money, relative to inflation.

Read on for tips on cash management for nonprofits from Raffa Investment Advisers.

Finding your nonprofit’s Kodak moments

There is an iconic episode of AMC’s Mad Men when Don Draper gets the opportunity to pitch a marketing campaign to Kodak for its new slide projector. The pitch, using photos of Don’s family, has a striking emotional effect on the room. The lesson: a story, told through visuals, can pull at the heartstrings in a big way. Telling your nonprofit’s story — and empowering others to tell it on your behalf — is essential in building and sustaining critical connections with your community, volunteers, and donors.

Read on for MemoryFox’s six reasons for nonprofits to embrace visual storytelling

Webinar on Government Grants | November 20 at 3pm Eastern

No, it’s not just you; governments' grant systems are truly broken and need fixing. And exciting new reforms have been introduced, but charitable organizations must take action now to show your strong support.

Participants will hear from experts on the results of bad grantmaking policies, such as nonprofit workforce shortages and organizations getting shut out of grants, and learn about legislative and regulatory solutions that you can help influence to reduce burdens, provide greater access to funding, and produce better outcomes.

Register today

📰 News & Resources

📋 IRS releases guidance on withdrawing incorrect ERTC claims: In light of the proliferation of scammers targeting for-profits and nonprofits alike, the IRS recently provided new guidance for organizations on how to withdraw incorrect claims for the Employee Retention Tax Credit. Following this new guidance can help organizations that have discovered they received bad advice on filing for an ERTC refund to avoid penalties associated with inaccurate filings.
💵 New resources for nonprofits on accepting cryptocurrency donations: The team at Nonprofit Financial Commons just unveiled their new guide, Demystifying Cryptocurrency Donations: A Guide for Nonprofit Leaders. This comprehensive guide, targeted for small and mid-sized nonprofits, walks readers through the many considerations of whether and how to accept cryptocurrency donations.
🔎 New research on what motivates people to donate and volunteer
The Do Good Institute at the University of Maryland released a new report, Understanding Generosity: A Look at What Influences Volunteering and Giving in the United States. Supported by the Generosity Commission, this first of two reports examines macro and micro factors – such as gender, age, family income, and household location – that affect giving and volunteering.

Building Movement Project Webinar | December 7 at 2pm Eastern

The Building Movement Project (BMP) is launching the Security to Wellbeing Framework. The tool centers direct service nonprofit organizations that want to introduce or increase work that lifts the voice of the people they serve, fosters alignment on social change priorities, and builds power with their community. Learn more about the Framework during BMP’s webinar on December 7.

Register today

Graphic with two responses from last month's "Your Voices", "AI helped us break through some writer’s block on an appeal message. It provided an idea, a starting point, a spark. Then we were able to build on the idea and make it authentic to our work. " and "I don’t understand why we have anything to do with AI. The meaning of artificial is not true, fake, not real, and false so why would we be anywhere near it? "

Graphic with this month's question: "How can the government grants system be improved to help your nonprofit better advance its mission?"

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