Economic instability caused by the pandemic may have your not-for-profit scrambling to find funding. But just as important is making internal adjustments that build your not-for-profit’s capacity to fulfill its long-term mission. However, you may want to tweak the standard capacity building process.

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Continue Reading Pursuing Capacity Building for Your Not-for-Profit

Jen: This is the PKF Texas – Entrepreneur’s Playbook®. I’m Jen Lemanski, and I’m back again with Roland Robb, a member of our business advisory team. Roland, welcome back to the Playbook.

Roland: Hi, good to be back.

Jen: So, we were talking a little bit about the Employee Retention Credit last time, but what we didn’t get the chance to get to were what are the benefits that a company could see by applying and receiving this credit?


Continue Reading The Benefits of the Employee Retention Credit

During the pandemic, your not-for-profit may have been forced to operate without your dedicated volunteers. It has probably come as a great relief to welcome them back in person. However, a volunteer, like an employee, could represent some risk to your organization.

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For example, you could be exposed to lawsuits if volunteers are harmed or harm others while volunteering for you.


Continue Reading Considerations for Tackling Volunteer Liability

Many Americans remain unemployed due to the COVID-19 pandemic — at least 9.8 million at the end of April, according to the U.S. Bureau of Labor Statistics. But that’s expected to change quickly as employers ramp up hiring activities. If your not-for-profit will soon need new staffers, you might want to start putting out feelers now.

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Obviously, the decision to hire is a difficult one considering the economic uncertainty that may remain. But you also don’t want to miss out on the best talent. Here are some issues to consider.


Continue Reading Considerations for Hiring New Not-for-Profit Staffers

As the COVID-19 pandemic finally seems to be fading in the United States, your not-for-profit organization may be making plans for its post-pandemic future. Is a merger with another not-for-profit part of these plans?

two men in suits shake hands; image used for blog post about not-for-profit merger after pandemic

A merger can provide your organization with greater stability and resilience so that you can survive any new challenges that comes your way. But a merger isn’t always the best solution if, for example, you’re looking for a financial rescue. Here’s a rundown of good — and bad — reasons to join forces.


Continue Reading Is Your Not-for-Profit Thinking About a Merger?

In recent months, there have been a number of tax changes that may affect your individual tax bill. Many of these changes were enacted to help mitigate the financial damage caused by COVID-19.

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Here are two changes that may result in tax savings for you on your 2020 or 2021 tax returns. The 2020 return is due on May 17, 2021 (because the IRS extended many due dates from the usual April 15 this year). If you can’t file by that date, you can request an extra five months to file your 2020 tax return by October 15, 2021. Your 2021 return will be due in April of 2022.


Continue Reading New Tax Changes May Benefit Your Individual Bill

High-net-worth individuals donated $5.8 billion during the first six months of the COVID-19 pandemic — generous giving by most standards. This is according to a recent report, “Philanthropy and COVID-19 in the first half of 2020,” from the Center for Disaster Philanthropy and information service Candid. However, that $5.8 billion amount is deceptive, because nearly three-quarters of it came from one donor, Mackenzie Scott (the ex-wife of Amazon’s Jeff Bezos).

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In fact, a 2020 study from the Milken Institute Center for Strategic Philanthropy found that only a relatively small percentage, 36%, of the ultra-wealthy are involved in charitable giving. This may sound like ominous news for not-for-profit organizations. But there are ways to tap this group’s ample resources.


Continue Reading Consider High-Net-Worth Individuals for Your NFP Efforts