financial management
Boards of directors have a fiduciary duty to ensure that the assets of a charitable nonprofit are used in accordance with donors’ intent, and in support of the charitable mission.
Using a fiscal sponsorship arrangement offers a way for a cause to attract donors even when it is not yet recognized as tax-exempt under Internal Revenue Code Section 501(c)(3).
“Internal controls” are financial management practices that are systematically used to prevent misuse and misappropriation of assets, such as occur through theft or embezzlement.
As tax-exempt “public charities," charitable nonprofits embrace the values of accountability and transparency as a matter of ethical leadership, as well as legal compliance.
In this age of data visualization, it’s useful to have a few good dashboards in your nonprofit’s toolbox!
For seven consecutive years Nonprofit Finance Fund’s State of the Sector report revealed that less than 25% percent of those nonprofits responding had...
