Before donating a vehicle, find out the charity’s intent as the value of your deduction can vary greatly depending on what the charity does with it.
Think of your not-for-profit organization and its external auditor as dance partners performing a well-choreographed routine. To execute the dance properly, each dancer must complete specific moves and coordinate timing with his or her partner. Likewise, your organization and its audit firm each have particular duties in the audit process but share the same end goal: a set of financial statements that fairly present your financial condition and operating results.
A few decades ago not-for-profit organizations benefited from a type of charitable immunity – essentially they were protected from lawsuits. It was widely held that a nonprofit’s money should pay for good works, not someone’s injuries. However, over the years, the courts have stamped out this immunity in most states and nonprofits are required to take legal responsibility for the actions taken by the organization, its employees and volunteers, just as any for-profit firm must do.
As the holidays approach, not-for-profit organizations expect to top off their donations as corporations begin to gear up to make year-end gifts and get the tax breaks that go with them. Here are ten techniques — some less traditional than others — on on how to find corporate donations. 1. Corporate grants: Typically, these are monetary.
As older donors make larger and more numerous gifts to charity,it makes sense to focus development efforts on baby boomers and “mature” donors. However, your nonprofit can’t afford to ignore younger generations. As a recent study found, Generations X (born from 1965 through 1980) and Y (born after 1980) now represent more than half of the pool of charitable donors. But their interests, communication preferences and giving methods may differ from those of your older supporters. How do you attract young donors?
Across the country, a bundle in inherited or earned family money is set to move from one generation to the next by the middle of the century. Boston College researchers estimate that up to $3.9 trillion could be transferred in the Greater Boston area alone before 2061. More than $1 trillion of that could be given to charitable and not-for-profit organizations. Harnessing the potential wealth to support operations and programming for your organization requires fresh ideas, a passion for your mission and innovative strategies that will give you an edge in 2014 and beyond. This article provides fundraising ideas for nonprofits, so read on and use them!
Know thy enemy – Understand risks and how to mitigate them Not For Profit Risk Management is key for nonprofitS organizations. They are encouraged to plan for several risks.These include wrongful employment practice claims, higher employee turnover and problematic partnerships. Financial risks may be the most obvious threats to.