Be Prepared: Why Enterprise Risk Management is Essential for Nonprofits
By Melissa Musser, CPA, CITP, CISA | Risk & Advisory Services Principal Corporations and organizations have long understood the value of systematic planning for worst-case scenarios to avoid unwelcome surprises, known as enterprise risk management (ERM). ERM is a proactive, multidimensional process of identifying, assessing, cataloguing, and preparing for potential negative organizational outcomes in order…
Politics Shouldn’t Be Business as Usual for Nonprofits
The presidential election of 2020 is just around the corner. Generally, not-for-profits sit on the political sidelines, but some organizations skirt the boundaries. The stakes for these borderline cases are high: If a nonprofit engages in political campaign activities, it risks its tax-exempt status — and perhaps its very existence. Here’s what you need to…
Prepare to Receive a Social Security Administration No-Match Letter
The SSA explains that it’s seeking to reconcile discrepancies between the names and Social Security Numbers (SSNs) it has on file with the names and SSNs that employers report. The purpose isn’t to support enforcement of immigration law, but rather to “properly post employees’ earnings to the correct record.” That’s an important distinction because if…
Securing Alternative Revenue Streams to Meet Tomorrow’s Mission
With fundraising becoming an increasing challenge for nonprofit organizations, how do their leaders ensure revenue that is not only stable today, but also sufficient to meet the organization’s mission tomorrow? Effective fundraising involves a diverse, yet complimentary mix of income sources, including alternative sources that are often entrepreneurial in nature requiring new skills and new…