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A year of COVID philanthropy: What it tells us going forward

Budgeting is always, to some degree, an exercise in uncertainty. But the current budgeting environment is unlike any experienced before. As a result of the COVID-19 crisis, many nonprofits have seen deep declines in revenue while the demand for their services has spiked. These and other pandemic-related factors may call for organizations to take a different approach to budgeting. This article discusses rolling budgets and reforecasting. A sidebar reflects on how nonprofits should budget for COVID-19-related expenses, such as sanitation-related services and employee assistance. Continue reading A year of COVID philanthropy: What it tells us going forward

Size counts

Your midsize or large organization might benefit from a CFO

As a nonprofit leader, you’re used to overseeing all aspects of your organization. However, you might think, at times, that having a financial expert run that side of the operation could be a plus. This might be true, but hiring a chief financial officer (CFO) is a weighty decision that can have a large impact on your organization. Continue reading Size counts


Recipients of COVID relief could run into surprise audits
The Paycheck Protection Program (PPP), which has offered 100% forgivable loans to eligible organizations, has provided critical support during the pandemic. But Accounting Today warns that nonprofit borrowers could unexpectedly find themselves undergoing “single audits” of their compliance with the federal program’s requirements. So could organizations that receive assistance under the recent American Rescue Plan Act (ARPA). Continue reading NEWSBYTES