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).

two women writing on papers with data and pie charts on a table; image used for blog post about not-for-profits reaching out to high-net-worth individuals for funding

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

Data analytics can actually save not-for-profits time and effort, because it helps prevent bad decisions that must later be revisited and revised. Most not-for-profit organizations collect vast volumes of data, but according to a study conducted by EveryAction and Nonprofit Hub, only 40% of not-for-profits regularly use that data to drive decisions.

a person working on a laptop with data bar graphs and pie charts on screen; image used for blog post about data analytics helping not-for-profit decisions

The majority of organizations that don’t analyze and apply data say they lack the time or staff to dedicate to it.

Here’s how data analytics can help with decision making:


Continue Reading How Data Analytics Helps Decision Making

Your accounting and development departments are central to the continued financial health of your not-for-profit. So what happens when communication between these two functions break down? It could result in conflict between staffers, inaccurate financial statements and, in a worst-case scenario, the forfeiture of grant funds.

a mug and laptop with a video conference call sitting on a wooden table; image used for blog post about collaboration between development and accounting in a not-for-profit

Here’s how you can encourage collaboration.


Continue Reading Collaboration Between Development and Accounting

As of January 1, 2021, PKF Texas promoted three Senior Managers to Directors:

  • Nicole Riley, CPA, CFE, Audit
  • Chris Dodd, CPA, Tax
  • Emily Smikal, CPA, Tax

Photos of Nicole Riley, Chris Dodd and Emily Smikal - news about new directors at PKF Texas

Nicole joined the firm in 2014 and leads PKF Texas’ growing not-for-profit practice. She has over 10 years of experience performing financial statement audits and providing consulting services to

If the events of 2020 have taught not-for-profits anything, it’s that financial reserves are essential to long-term survival. An endowment is different from operating reserves and generally is designed to provide steady income to a not-for-profit while its core investments grow untouched. But that steady income can be a financial safeguard in times of crisis.

a green plant growing from a pile of coins; image used for blog post about not-for-profit endowment

So if your organization doesn’t have an endowment, or if you’ve neglected to build on an existing one, you might want to focus on it as soon as your not-for-profit is back in fighting shape. Just make sure you understand the regulations governing spending and have the resources to manage investments.


Continue Reading What to Know About a Not-for-Profit Endowment

In 1993, a consortium of philanthropic organizations came up with the Donor Bill of Rights to guide not-for-profits in their interactions with financial supporters. For the most part, the basic principles remain valid. But over the past quarter century, some in the not-for-profit and donor communities have suggested amendments and additional “rights.”

typewriter with paper sticking out with the word "donations;" image used for blog post about not-for-profit donor bill of rights

If you aren’t already familiar with the Bill, it’s a good idea to review it and recent updates while thinking about ways you might improve your organization’s relationship with donors.


Continue Reading Does Your Donor Bill of Rights Need Updating?

Companies have seen growth after entering third-party agreements, and even though there are benefits, risks can also come with the deal. The good news is these risks can be mitigated through monitored and managed with an effective program of internal and external controls. PKF Texas Contract Compliance Audit Manager, Carlos Gomez, recently published an article

Byron: Welcome to The PKF Texas Entrepreneur’s Playbook. My name is Byron Hebert. I’m the Chief Growth Officer here at PKF Texas, and today I want to introduce you to two of the faces of PKF Texas, Matt Goldston and Sam Razmandi.

We’re going to talk to you today about one of the services PKF offers: our Outsourced Controller and CFO Program in the Entrepreneurial Advisory Service Department. Both these guys are experts in this area, and so I’m really excited to introduce them to you. Let’s start with Matt.

Matt, why would a company outsource their controller or CFO function?


Continue Reading What are Outsourced Controller and CFO Services?

Delegating ideally gives not-for-profit executives time to focus on mission critical tasks and provides growth opportunities to staffers. However, you need to approach delegation strategically.

woman in long-sleeve grey shirt putting a yellow post-it note on a dry erase board; image used for blog post about not-for-profit leaders delegating tasks

This means assigning the right tasks to the right staffers — and following up on assigned work to ensure it’s completed to your standards.


Continue Reading Tips: Delegating as a Not-for-Profit Leader