The Importance of Investment Policies

5 Steps for Nonprofits to Develop a Wise Investment Policy Nonprofit boards have a fiduciary responsibility to protect the organization’s assets and ensure that they’re used to further the mission.  Often, an important part of the board’s responsibility is deciding how to invest the nonprofit’s cash. That requires implementing a sound investment policy that balances…

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The Importance of Reserve Policies

5 Keys to Develop Your Operating Reserve Policy Every nonprofit needs to have sufficient cash flow to meet obligations. Setting aside an operating reserve is a smart practice as it provides a cushion against unexpected events that could temporarily impact the cash flow. Following are five best practices to follow when establishing your operating reserve…

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Top Nonprofit Compliance Best Practices

Overview Speakers Resources Podcast From GAAP to Form 990, this episode will help you understand the key compliance issues for stakeholders, donors, and board actions. Michelle Jilek Accounting Implementation & Support Manager Over seventeen (17) years of experience including accounting, consulting, and auditing services for nonprofit organizations. Michelle manages new client onboarding and the quality…

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Understanding the Role of a Board Treasurer

It is not uncommon to go to the Board meeting of a nonprofit and discover that they don’t have a Board Treasurer. Having someone who oversees the organization’s finances seems like such an important job, so why is it neglected?  The Treasurer role of a nonprofit is not an easy role. A quick look at the Treasurer’s duties outlined in any organization’s bylaws…

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BEWARE OF THE DOG: How to Improve Your Nonprofit Organization’s Charity Watchdog Rating (Part 2)

For better or for worse, charity watchdogs (CWDs) play a substantial role in any nonprofit’s reputation. CWDs rate 501(3)(c) public charities based on certain criteria, and both individuals and companies often use those ratings to decide whether to donate to a specific nonprofit organization. Positive ratings often provide a sense of credibility and trustworthiness to…

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