No not-for-profit looks forward to annual audits. But regular maintenance and preparation specific to an impending audit can make the process less disruptive.
We recommend taking the following steps.
Continue Reading Prepare Your Not-for-Profit for an Audit in 5 Ways
The global market for human resources outsourcing was approximately $32.8 billion in 2020 and is projected to rise to $45.8 billion by 2027, according to market research company Reportlinker. Should your not-for-profit join the many organizations that have already determined that HR outsourcing makes financial and operational sense?
Here’s what you should consider before acting.
Continue Reading Is Your Not-for-Profit Considering HR Outsourcing?
Your not-for-profit may prefer to avoid activities that subject it to unrelated business income tax (UBIT). But if you accept advertising or sponsorships that aren’t substantially related to your tax-exempt purpose, you may unwittingly expose your organization to UBIT liability.
The rules governing these types of support are complicated, so it’s important to have a basic understanding of what is and what isn’t potentially taxable.
Continue Reading What’s Taxable for Your Not-for-Profit’s Sponsorships and Advertising?
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.
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
“Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards” (Uniform Guidance) applies to all not-for-profits that accept federal funding. It has been updated and amended several times, most recently in 2020.
So if you haven’t reviewed your own organization’s procurement policies lately, now’s a good time to ensure you’re in compliance.
Continue Reading What to Know About the Uniform Guidance Updates
Collective impact projects are collaborations between not-for-profits, government, businesses and communities with the goal of achieving challenging and complicated social objectives. They can succeed in ways that simply aren’t available to individual organizations.
But they also require a level of commitment your not-for-profit may not be prepared for.
Continue Reading Collaborating on Collective Impact Projects
It takes more than dedication and enthusiasm for your not-for-profit’s cause and programs to make a good board member. The most critical duty for all board members is being a fiduciary.
This means, among other things, that they can be trusted to always act in their not-for-profit’s best interests, avoid unnecessary risk, make decisions thoughtfully and execute them efficiently.
Continue Reading The Fiduciary Duties of Not-for-Profit Board Members
As trusted business advisors, we enjoy working with you to co-create ideas and co-develop innovative solutions for your business. Even amidst the COVID-19 pandemic, we still want to continue providing valuable information, including upcoming Houston events that we support, and think may be of interest to you.
If you have questions about any event details or registration information, the organization-specific contacts are below. We hope to see you at any or all of these Houston events!
Continue Reading Mark Your Calendars! Upcoming June 2021 Houston Events…
COVID-19 was a kind of disaster most not-for-profits weren’t prepared for. As your organization recovers from this unusual event, don’t let it become vulnerable to other, more common, threats.
Every not-for-profit needs a formal disaster plan for such risks as a fire, natural disaster or terrorist attack.
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.
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