You’ve built a successful business, and now you’re ready to move on. However, thinking about how to get out of the business you spent your life getting into can be uncomfortable. There’s a lot to consider, strategically and emotionally. Successful transitions don’t just happen, and unsuccessful transitions can undermine everything you’ve worked for. Only 30% [...]
As we navigate this time of worldwide economic uncertainty, saying these times are “challenging” in the nonprofit world is understating the reality. While the ongoing COVID-19 crisis has affected organizations in different ways, nearly every nonprofit is concerned with maintaining donor engagement and achieving fundraising results. Many institutional donors have stepped up with accelerated distributions [...]
Undoubtedly, there’s a lot of uncertainty and change happening around us. This volatility can make us feel like we should hold tight and be reactive to what happens. But times of crisis and economic uncertainty can create opportunities for us to accelerate changes that we needed or wanted to happen anyway. Here are the Top [...]
Let’s face it, every month you review the same financial statements, which are most commonly: the statement of financial position, the statement of activities, and possibly the cash flow statement. Do you take the next step and dig deeper into these financial statements by calculating the key financial ratios that are important to your organization? [...]
Your basic financial statements report what has happened in the past – these are lagging indicators. Those numbers are certainly important, but they only tell you what has already happened. If you don’t like the results, there’s nothing you can do to change them. However, to impact future results, you must also identify Key Performance [...]
Everyone is learning and adjusting during this COVID-19 pandemic because every day is different, requiring us to live, work, and play in ways we had not before. As the world feels the economic challenges of the COVID-19 crisis, there are new challenges that are arising for nonprofit organizations, especially with maintaining donor involvement. While this [...]
Diversity has become something to be celebrated and is a necessity for success in today’s working world. What is the first thing that comes to mind when you think of diversity? Culture? Gender? What about age? Many workplaces now have upwards of four different generations working together. As we start a new decade, use this [...]
A fund has been created to support Targeted Small Businesses (TSB) with zero employees that have been economically impacted by the COVID-19 pandemic. The program offers eligible small businesses grants ranging from $5,000-$10,000 to businesses that are sole proprietors or single-member LLCs that are also TSB certified, or have an application submitted to the Iowa Economic [...]
“The Families First Coronavirus Response Act” (FFCRA), which goes into effect April 2, 2020 and expires December 31, 2020, responds to the coronavirus outbreak by providing additional assistance in the areas of COVID-19 testing, sick leave, food assistance, and more. We’ve compiled key details of FFCRA that we believe you need to know. In [...]
In the current economic and social climate, turnover is inevitable. Talented people land different jobs, move away, or retire. When turnover happens in your accounting department, most organizations experience some uncertainty and concern over the accounting function. You may wonder “how will we produce our financial reports next month?” or “how can we do [...]
