financial management
Boards of directors have a fiduciary duty to ensure that the assets of a charitable nonprofit are used in support of the charitable mission, and in accordance with donors’ intent.
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.
Reports such as the Nonprofit Finance Fund’s State of the Sector reveal year after year that a minority of nonprofits responding have...
