We continue to share resources and support for nonprofits impacted by Hurricane Helene who are both recovering and serving the needs of their communities across western NC. Resources for Nonprofits + How to Help
Appropriate document retention is important for a nonprofit's compliance with state and federal law, while balancing the need for managing storage space (both physical and digital). A clear policy for staff can prevent the innocent destruction or disposal of documents.
How to find fiscal sponsors
General Operating Support Action Guide - A report inspired by a spirited discussion on GEOList among GEO members about general operating support, its limitations and its advantages. (Grantmakers for Effective Organizations)
How Much Profit Does a Nonprofit Need? identifies the key variables and explains how any organization can calculate the minimum profit it needs to prevent slow, steady erosion of the quality of its output. (Nonprofit Quarterly)
How To Develop Your Nonprofit Operating Reserve examines common factors that organizations should take into account when considering how much to set aside for their operating reserve. (npENGAGE)
Kate Barr, executive director of Propel Nonprofits, lays out how to understand the roles of the treasurer and finance committee, along with how to recruit for these positions.
Developing and adopting a written financial policy is a valuable practice for any nonprofit organization, no matter how small or large. Financial policies clarify the roles, authority, and responsibilities for essential financial management activities and decisions. In the absence of an adopted policy, staff and board members are likely to operate under a set of assumptions that may or may not be accurate or productive. If the idea of creating a financial policy seems daunting, these guidelines for policy development and this downloadable basic example may be helpful.
Establishing good fiscal policies and procedures is more of an investment of time and attention than money. There is no “one size fits all” template that will work for all organizations. This guide offers a recommended structure for policies and procedures as well as some questions to guide you in considering what is best for your organization. (CompassPoint, 2012)
Operating Reserves for Nonprofits - For seven consecutive years Nonprofit Finance Fund’s State of the Sector report revealed that less than 25% percent of those nonprofits responding had more than 6 months of cash in reserve. In fact the majority of the nonprofits responding reported that they had less than three months of operating reserves on hand.
Most foundations and corporate funders require organizations to submit a project budget with their grant application. William A. Bayreuther Grantwriting has provided complementary samples of proposal budgets for a 1 year project, 2 year project and a capacity building request. (Maine Association of Nonprofits)