The IRS doesn’t tell nonprofits exactly what to pay their officers. But they’ve made it very clear what happens when you pay too much. It’s called intermediate sanctions, and it can hit both the executive who received the excess compensation…
Compensation consultants are great if you can afford them. Most small nonprofits can’t. A full compensation study from a reputable firm runs $5,000 to $25,000 depending on the size of your organization and the number of positions being benchmarked. For…
Your Form 990 is a public document. Anyone – donors, journalists, watchdog groups, your neighbors – can look up exactly what your nonprofit pays its top people. That’s not a bug in the system. It’s the deal nonprofits make in…
Every nonprofit leader has had this moment: your best program director walks into your office, says they’ve been offered $15,000 more at another organization, and asks if you can match it. You scramble through your budget, realize you have no…
If you’re a board member at a nonprofit, setting executive compensation is one of the most consequential decisions you’ll make. Get it wrong and you risk IRS penalties, public embarrassment, or losing a great leader to an organization that pays…
Most nonprofit leaders don’t set out to have weak financial oversight. It happens gradually. The founder handles the books because no one else will. The board gets a one-page summary instead of real financials. The annual audit keeps getting pushed…
As a nonprofit leader or executive, managing expenses and budgets is essential for your organization’s success. In this article, we’ll dive deeper into the features, benefits, and differences between two popular expense management solutions: Divvy and Expensify. Our goal is…
Operating reserves play a crucial role in the financial stability and long-term sustainability of nonprofit organizations. These liquid, unrestricted assets are listed on a balance sheet as “Net Assets Without Donor Restriction,” following the 2018 Financial Accounting Standards Board (FASB)…
Why Financial Responsibility Matters Financial responsibility is essential for nonprofits of all sizes. By fostering a culture of transparency and accountability, you’ll empower your entire team to contribute to the organization’s financial success. Let’s explore ways to create this culture…
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