Stop us if you’ve heard this one before (from your Board of Trustees or Finance Committee): “I wish there was a way we could benchmark ourselves against our competitors.”
Have you ever wrestled with how to benchmark? Or struggled to identify what the Board wants to measure? Organizations can fall short on implementing effective methods to benchmark accurately.
Who pays for unemployment? The truth behind who pays for unemployment and the often-overlooked hidden costs may surprise you. While many believe individuals pay into a fund, HR and finance staff will tell you that it is employers, including nonprofits, who usually foot the bill*.
Donors often provide support to nonprofits in a way that responds to contemporary issues and the donor’s particular interests. Examples include a prohibition on spending principal or a requirement that the fund be used only for a specified program or within a given geographical area. Over time, such restrictions can make full use of the funds impracticable or impossible.
The fields of accounting and finance are undergoing a transformation driven by the rapid advancements in automation and artificial intelligence (AI). These technologies are not only streamlining processes and increasing efficiencies but also enabling business to gain deeper insights and engage in more strategic informed decision-making. But what does it all mean and how can it change the way we work? Let’s explore the current landscape of automation and AI in accounting and finance: the benefits, applications, and key challenges or considerations.
With a tight job market, declines in giving, and inflationary pressures, 2024 presents concerns for nonprofit CFOs. In a Forbes article featuring a survey on top risks, CFOs highlighted talent, economic uncertainty, and cyber as top risks. Nonprofit leaders are embracing these 4 strategies to mitigate enterprise risk.
My brilliant friend and nonprofit colleague Abigail Jarvis recently took to LinkedIn to tell nonprofits something remarkable: “You probably don’t need to worry about your email unsubscribe rate in 2024.” This isn’t the kind of message nonprofit pros tend to hear. There’s something that isn’t on fire?