Every organization — whether for-profit or nonprofit — is at risk of falling victim to costly acts of fraud. Nonprofits, though, have some common characteristics that can make them particularly susceptible to such schemes. This article discusses organizational weak spots and advises on ways to combat risks by implementing some simple controls.
Success for not-for-profits (NFPs), regardless of their type or size, is built on a firm foundation of fiscal accountability and governance. NFPs can access expertise in these areas – and in the process more successfully fulfill their strategic goals – by leveraging the knowledge and experience of audit committees.
Has your organization outgrown its bylaws? Sometimes, as a nonprofit expands and matures, the guiding rules set when it was just a twinkle in its founders’ eyes need to be revisited and brought up to date. Revising your bylaws involves more than just altering the language of rarely visited documents. The process provides you with an opportunity to look closely at how your nonprofit is evolving and whether such developments are consistent with your original mission.
Every two years, the Association of Certified Fraud Examiners (ACFE) publishes what has become the definitive guide for preventing and detecting workplace fraud. The recently released...
The COVID-19 crisis has put enormous financial stress on many not-for-profits — whether they’re temporarily shut down or actively fighting the pandemic. If cash flow is a problem, your...
In late July, the Federal Reserve announced that not-for-profit organizations may now apply for loans under the $600 billion Main Street Lending Program. Previously open only to...
One of the many challenges of operating a not-for-profit organization during the coronavirus (COVID-19) pandemic is that just when you desperately need financial support, many donors are...
On March 27, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law. How is this massive $2 trillion recovery package poised to help your not-for-profit...
Although many not-for-profits have been hurt by the coronavirus (COVID-19) pandemic, your organization’s specific challenges likely depend on your mission, constituency and other factors....