Preparing for a financial crisis? Build up operating reserves | cpa in alexandria va | Weyrich, Cronin & Sorra

Preparing for a financial crisis? Build up operating reserves

You never know when your not-for-profit might experience a financial blow. With the current efforts in Washington to slash expenses, some nonprofits have already lost federal funding and more may lose it in the near future. But that’s not the only risk. A significant grant from a foundation or state government might not be renewed, or a major donor could decide to stop supporting your organization. If such uncertainty has ever forced you to suspend services and scramble to implement Plan B, you probably understand how important operating reserves can be.

This financial cushion can help you manage acute shortfalls. If your nonprofit’s operating reserves are low or nonexistent, start looking for ways to build them.

Written reserves policy

A formal written reserves policy is a crucial first step. Among other things, your policy should set the target amount to hold in a separate fund. Although no universal benchmark applies, six months of operating expenses will be sufficient for many organizations. Incorporate your risk appetite and current financial position into the target calculation. In general, greater risk calls for higher reserves. So, for example, if your organization heavily relies on a handful of funding sources, assess the shortfall if one or more sources were to disappear overnight.

Avoid setting your reserves target too high, though. Donors and grant-makers generally don’t favor stockpiling when funds might otherwise be used to pursue your mission. Your policy also should establish triggers for when your organization can dip into its reserves.

Windfalls and budget items

Next, consider how you’ll reach — and maintain — your target amount. If you’ve received increased donations over the past couple of years, you might be able to fully fund your reserves with unrestricted net assets. Other sources include unexpected windfalls such as large bequests.

Most nonprofits, however, need to include a line item for reserves in their budgets. This amount shouldn’t hinder day-to-day operations, but it will help you begin to make real progress toward your reserves goal. It may be necessary to cut expenses, cancel projects or divest investments to free up funds.

Remember to leave illiquid fixed assets (buildings and equipment), endowments and temporarily restricted funds out of the equation. Keep in mind that budget surpluses aren’t necessarily available to fund reserves because they might include funds already earmarked for future expenses.

Enlist support

How long it will take to build your nonprofit’s reserves depends on your goals and resources. But it’s critical to enlist the support of your board and leadership team so that contributions to the reserves fund become a priority. We can help educate decision-makers, as well as advise your organization on an effective operating reserves policy.

© 2025

 

Lost and found: Regaining your nonprofit’s tax-exempt status | business consulting firms in dc | Weyrich, Cronin & Sorra

Lost and found: Regaining your nonprofit’s tax-exempt status

The IRS regularly revokes the tax-exempt status of not-for-profits — mostly for failing to file annual information returns. Losing your exempt status can be devastating. Donors won’t be eligible to deduct contributions to your organization, grant-makers probably won’t even consider your applications and you may become retroactively liable for taxes. So the sooner you regain your status, the better. Here’s how.

Filing for exemption recognition

If your nonprofit is required to file an annual Form 990, 990-EZ or 990-N (e-postcard) and it fails to do so for three consecutive years, your exempt status will automatically be revoked. However, you can potentially regain it. First, make sure your organization is registered with pay.gov.

Then, you’ll likely need to submit one of these electronic forms:

  • Form 1023, “Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code,” or
  • Form 1024, “Application for Recognition of Exemption Under Section 501(a) or Section 521 of the Internal Revenue Code.”

Smaller organizations may be able to have their status retroactively reinstated effective from the revocation date. To qualify, your nonprofit must have been eligible to file either Form 990-EZ or 990-N for each of the three consecutive years and not have previously had its tax-exempt status automatically revoked. To apply for retroactive reinstatement, file the applicable form within 15 months or the later date of 1) the IRS revocation letter, or 2) when the IRS posted your nonprofit’s name on its website.

If you aren’t eligible for retroactive reinstatement, your organization’s activities between the revocation date and reinstatement date will be considered taxable. This includes donors’ contributions.

Supporting your request

When you file for recognition of exemption, you’ll attach a detailed statement that provides reasonable cause for failing to file required returns in each of the three consecutive years. You should state the facts that led to each failure, the continual failures and the discovery of the failures, and describe the steps taken to avoid or mitigate them.

In addition, you’ll need to include:

  • Statements that describe safeguards put in place and steps taken to avoid future failures,
  • Evidence that supports all material aspects of those two statements,
  • Properly completed and executed tax returns for all taxable years during and after the three-year period your organization failed to file, and
  • An original declaration dated and signed by an authorized person in your organization such as an officer or director.

Finally, you’ll be required to pay a filing fee.

Qualifying again

Assuming you file correctly and submit all required paperwork that shows your organization qualifies, it’s likely to regain its tax-exempt status. At that point, the IRS will issue a new determination letter and update its records that confirm your eligibility to receive tax-deductible contributions.

If you don’t qualify for retroactive reinstatement, generally, the effective date of reinstatement will be the date your exemption application was submitted. But if your nonprofit is retroactively reinstated, you may be able to request an abatement of any penalty the IRS may have assessed.

Essential help

If your tax-exempt status is revoked and you’re unsure how to proceed, contact us. In addition to helping you file for reinstatement, we’ll assist you in establishing procedures for future compliance.

© 2025

 

Should your nonprofit compete, collaborate or both? | accountant in harford county md | weyrich, cronin and sorra

Should your nonprofit compete, collaborate or both?

You’ve probably collaborated with other not-for-profits that share your space — maybe on a special event or fundraising campaign. Some organizations go further with formal strategic partnerships that involve sharing staff, facilities and budgets. In other cases, two nonprofits with the same basic mission and values merge permanently.

Although the case for collaboration is easy to make, what about competitive behavior? After all, other nonprofits are competing with you for donations, grants, volunteers and other resources. When is competition called for?

Direct and indirect

The not-for-profit sector is saturated with organizations, so overlap in certain areas is inevitable. Therefore, monitoring and analyzing similar nonprofits makes sense, whether the competition is direct or indirect.

Direct competitors have similar missions and thus target many of the same individual donors and grant makers. This can make it difficult for your nonprofit to meet its fundraising goals. To keep tabs on these competitors, follow them on social media, sign up for their newsletters and read their annual reports. Don’t be shy about copying a good idea. Just be sure to customize it to your mission and supporters.

Indirect competition is less obvious. But, in the end, all nonprofits compete for limited money, time and attention. You may run a nonprofit school that competes for community support with everything from other educational institutions to churches, food banks, animal rescue charities and your local public radio station. If you have opportunities to collaborate with indirect competitors, great! But also make sure you know when they’re scheduling events and campaigns and how they might affect your plans.

Working with the competition

In some instances, organizations that initially appear to be competitors can turn into prospective partners. Maybe a competitor serves a slightly different population or has different geographic reach. In many cases, there’s more work to be done than a single nonprofit can accomplish. If similar organizations have access to resources, supplies or connections you don’t have — and vice versa — collaboration should be considered.

Just be sure to choose partners carefully and look out for common hurdles. Both organizations should independently arrive at the decision to join up, and the key people involved should share goals and working styles. Disagreements between former competitors, particularly between leaders used to calling the shots in their own organizations, are inevitable. So before you begin work, outline individual responsibilities and plan how to resolve impasses.

Networking is critical

At the very least, maintain good working relationships with other nonprofit leaders. Even if collaborative opportunities never quite pan out, you can only benefit from keeping your finger on the pulse of your geographic and charitable communities.

© 2024

 

Nonprofit start-ups: Form 1023 or 1023-EZ? | accountant in alexandria va | Weyrich, Cronin & Sorra

Nonprofit start-ups: Form 1023 or 1023-EZ?

If you’re starting up a new 501(c)(3) not-for-profit organization, you likely face many decisions. One of them is which form to use when applying to the IRS for recognition of your tax-exempt status. There are two — Form 1023 and 1023-EZ, a newer, streamlined version of the original form. Let’s take a look.

Traditional route vs. EZ way

Many nonprofits still use the longer Form 1023 because it’s available to every 501(c)(3) organization and there are virtually no restrictions on its use. However, Form 1023 takes time and money to complete. It’s dozens of pages long and accompanied by lengthy instructions. The instructions explain how to fill out the form and list the documents you’ll need. If you decide to use Form 1023, do your homework first. Also know that it will cost $600 to file it. You’ll need to set up a pay.gov account first.

Form 1023-EZ is aimed at smaller nonprofits and is cheaper to file — only $275 (also via pay.gov). It’s only three pages and completing it should take less than half the time it would take to fill out Form 1023.

Work the worksheet

Eligibility for filing Form 1023-EZ isn’t automatic. You first must complete an eligibility worksheet to verify that your organization qualifies to use the form. Note that it only takes one “yes” answer to eliminate Form 1023-EZ as an option. For example, your organization can’t expect to accumulate annual gross receipts of more than $50,000 during the next three-year period. This includes receipts from all sources.

You’ll also be disqualified from using the EZ form if your nonprofit’s assets are valued at more than $250,000. Cash and the fair market value of bank accounts and loans receivable, inventories, bonds, stocks, equipment, and buildings all count toward the limit.

Among other eligibility requirements, your organization must:

  • Have been formed in 1) the United States, its states, territories, or possessions; 2) federally recognized Indian tribal or Alaskan native governments; or 3) the District of Columbia; and
  • Be organized as a corporation, unincorporated association or trust.

Be sure to complete the entire worksheet.

Getting off on the right foot

So long as your organization passes all the tests on the 1023-EZ eligibility worksheet, you should be safe submitting that form. But if you have questions or concerns, contact tax and legal professionals. Using Form 1023-EZ if you’re ineligible could make your new nonprofit more vulnerable to audits and other IRS scrutiny. And you wouldn’t want to get off on the wrong foot at the start of your organization’s run!

© 2024

 

How to get foundations to say “yes” to your grant proposals | accountant in baltimore county md | weyrich, cronin and sorra

How to get foundations to say “yes” to your grant proposals

There are many thousands of charitable foundations in the United States. And, according to technology company Foundation Source, U.S. foundations awarded an average of 33 grants averaging between $25,000 and $28,000 each in 2022 (the most recent year for which data is available). So a lot of grant money is out there for not-for-profit organizations that know where to look and how to qualify for it. Here are some suggestions.

Match your mission with their interests

Probably the most important thing to remember about foundations is that they tend to specialize, making grants to certain types of charities or in specific geographic regions. It’s not enough to be a 501(c)(3) organization — though your exempt status is important. For your nonprofit to succeed at obtaining a grant, its mission and programs must align with the foundation’s interests.

Before you apply for a grant, review the foundation’s annual reports, tax filings, press releases and any other information you can get your hands on. One place to start is the nonprofit data organization Candid’s online directory of foundations.

Once you have a list of matches, don’t just start sending out long, detailed proposals. Call your target foundations and talk to staff members about the information they need and their communication preferences. Most will be happy to provide insights into their decision-making process and shed light on your chances of securing a grant.

Finish what you start

The most successful foundation grant proposals have several qualities in common. For example, foundations tend to like projects that are well-defined and data-driven with specific goals. They also want to know that their gifts are effective, so achievement of goals needs to be measurable.

In your grant proposals, make sure you outline the project’s life cycle and how you plan to fund it to completion. Many foundations provide the money to initiate projects but expect nonprofits to use their own funds and other grants to continue them. In fact, if you hope to establish a long-term relationship with a foundation that has given you a grant, you must successfully finish what you started.

Just because a grant proposal is rejected doesn’t mean the same foundation won’t welcome future applications — and say “yes” to them. Call the decision-maker and ask that person to explain why your application was rejected. Foundation personnel may be able to provide tips on making your proposals stronger. Many organizations are competing for the same foundation funds, so tenacity is crucial.

Many priorities

If you’re worried about funding your nonprofit’s many priorities, contact us. We may be able to suggest additional ways to find new revenue and cut existing expenses.

© 2024

 

Nonprofit programs: Out with the obsolete, in with the most effective | quickbooks consultant in washington dc | weyrich, cronin and sorra

Nonprofit programs: Out with the obsolete, in with the most effective

How is your not-for-profit’s 2025 program budget looking? Unfortunately, some organizations may have to try to do more with less next year because donations and grants have fallen off. Even if your income is relatively stable or rising, you’ll want to ensure you’re making the most of your budget. Take the time now to review your programs and determine what no longer works and what might be missing.

Ask your stakeholders

Community and membership needs change over time, and your nonprofit must change with them. Instead of relying on assumptions and anecdotes about your programs’ effectiveness, survey clients, members, donors, staffers, volunteers and other stakeholders about which of your programs are the most — and the least — effective and why. You might also want to talk to community leaders and others with their ears to the ground, such as local journalists, about whether they know of unmet needs or have spotted trends that should inform your programming decisions in the future.

It’s common to get mixed responses regarding the same program, so consider their source. Employees and volunteers who work directly with program participants are more likely to know if your current efforts are off target than is a donor who attends fundraising events once a year. On the other hand, you can’t afford to alienate financial supporters. Be sure to let all stakeholders know how much you value their input, regardless of the decisions you ultimately make.

Use data and metrics

It’s also important to scour your community’s demographic data for changes relevant to your program offerings. And if you don’t already have goals and metrics for each program, set them. Specific measurements will vary according to the program, but your evaluation system should be strategic, realistic and timely. For example, a professional association evaluating its continuing education program could compare year-over-year enrollee numbers or the change in percentage of enrollees relative to overall membership.

Apply several measures, including subjective ones, to your programs before deciding to cut or fund them. Numerical data might suggest that a program isn’t worth the money, but those who benefit from it may be passionate and vocal about its success.

Redeploy funds where necessary

After researching your programs, you may find that it’s easier to identify obsolete ones than to decide on new ones. If one of your programs is clearly ineffective and another is wildly exceeding expectations, the decision to redeploy funds to the successful program is simple. But what if you discover that none of your programs are particularly effective?

New programs can be variations of old ones, but they must better serve your nonprofit’s basic mission, values and goals. You also should avoid repeating old mistakes, such as skimping on funding. At the same time, programs can’t be successful if you overspend on them. So for every new program, create a tight budget and stick to it.

No-waste operations

If you find that reviewing your programs and culling those that are less effective is productive, consider making it a routine exercise — for example, do it once a year or once every two years. In times of financial insecurity, it’s always better to keep waste to a minimum. Contact us with questions.

© 2024

 

What nonprofits might expect from the change of control in Washington | business consulting and accounting services in harford county | weyrich, cronin and sorra

What nonprofits might expect from the change of control in Washington

The reelection of Donald Trump as President and control of the U.S. Congress by Republicans are anticipated to usher in changes that could financially impact the not-for-profit sector. Whether and to what extent your organization will be affected will depend on your mission, funding sources and other factors. But in general, you may want to keep an eye on the following issues.

Exempt status of “terrorist supporting organizations”

On Nov. 21, 2024, the Republican-led House passed legislation that would enable the U.S. Treasury Department to revoke the tax-exempt status of nonprofit organizations that it claims support terrorism. Although the bill is unlikely to be taken up by the current Democratic-controlled Senate, it could potentially pass the Senate and be signed into law when Republicans take over in January 2025.

The Council on Foundations, Independent Sector, National Council of Nonprofits and United Philanthropy Forum have formally opposed the bill. They say it would give the Secretary of the Treasury unilateral discretion to designate nonprofits (including humanitarian charities and labor unions) as “terrorist supporting organizations” without having to share evidence of such activities. Accused nonprofits would be given 90 days to appeal any “terrorist supporting” designation.

Spending cuts and funding opportunities

President-Elect Trump’s campaign promises to slash spending could also affect funding availability for nonprofits that depend on federal grants and contracts. Making the situation more challenging, organizations that provide social and other essential services could experience more demand if vulnerable people lose food and housing assistance benefits. Environmental, social justice, civil liberties charities and organizations that prioritize diversity, equity and inclusion (DEI) initiatives also are expected to encounter fewer resources and increased government scrutiny.

On the other hand, certain faith-based organizations may receive greater support under the new administration. This could enable them to provide more assistance to such groups as the homeless, food-insecure and formerly incarcerated at the community level. Educational nonprofits whose programming aligns with Trump’s priorities — including school choice, STEM education and vocational training — could also receive new funding and support.

Tax cuts and extensions

Charitable donors who itemize deductions are expected to continue to be able to deduct contributions on their federal tax returns. However, the higher standard deduction under Trump’s Tax Cuts and Jobs Act (TCJA) that’s scheduled to expire after 2025 now is likely to be extended or made permanent. This would mean more taxpayers would continue to claim the standard deduction and, therefore, be ineligible to deduct charitable donations.

Congress is expected to extend or make permanent some other tax provisions that potentially could reduce financial incentives for charitable giving. For example, if the gift and estate tax exemption remains high (it’s scheduled to be almost $14 million per individual in 2025), wealthy individuals may be less inclined to donate money and assets to charity.

Possible tax law changes could also make charitable giving less attractive, such as a capital gains tax reduction. Currently, donating highly appreciated assets to charity enables donors to both save the tax they would have owed if they’d sold the assets and claim a charitable deduction for the assets’ fair market value.

Plan now

Nonprofit organizations that depend, even in small part, on federal funding or that have missions that make them vulnerable to political scrutiny should start planning now. And additional tax legislation could affect your ability to raise funds and fund programs.

You may qualify for new state, local and private foundation grants. Or we may be able to help you find other untapped sources of revenue and opportunities to cut expenses. Finally, if you at any time receive notice from the IRS or another government agency about an investigation into your finances or activities, contact us and legal counsel immediately.

© 2024

 

The amount you and your employees can save for retirement is going up slightly in 2025 | tax accountants in washington dc | Weyrich, Cronin & Sorra

The amount you and your employees can save for retirement is going up slightly in 2025

How much can you and your employees contribute to your 401(k)s or other retirement plans next year? In Notice 2024-80, the IRS recently announced cost-of-living adjustments that apply to the dollar limitations for retirement plans, as well as other qualified plans, for 2025. With inflation easing, the amounts aren’t increasing as much as in recent years.

401(k) plans

The 2025 contribution limit for employees who participate in 401(k) plans will increase to $23,500 (up from $23,000 in 2024). This contribution amount also applies to 403(b) plans, most 457 plans and the federal government’s Thrift Savings Plan.

The catch-up contribution limit for employees age 50 or over who participate in 401(k) plans and the other plans mentioned above will remain $7,500 (the same as in 2024). However, under the SECURE 2.0 law, specific individuals can save more with catch-up contributions beginning in 2025. The new catch-up contribution amount for taxpayers who are age 60, 61, 62 or 63 will be $11,250.

Therefore, participants in 401(k) plans who are 50 or older can contribute up to $31,000 in 2025. Those who are age 60, 61, 62 or 63 can contribute up to $34,750.

SEP plans and defined contribution plans

The limitation for defined contribution plans, including a Simplified Employee Pension (SEP) plan, will increase from $69,000 to $70,000 in 2025. To participate in a SEP, an eligible employee must receive at least a certain amount of compensation for the year. That amount will remain $750 in 2025.

SIMPLE plans

The deferral limit to a SIMPLE plan will increase to $16,500 in 2025 (up from $16,000 in 2024). The catch-up contribution limit for employees who are age 50 or over and participate in SIMPLE plans will remain $3,500. However, SIMPLE catch-up contributions for employees who are age 60, 61, 62 or 63 will be higher under a change made by SECURE 2.0. Beginning in 2025, they will be $5,250.

Therefore, participants in SIMPLE plans who are 50 or older can contribute $20,000 in 2025. Those who are age 60, 61, 62 or 63 can contribute up to $21,750.

Other plan limits

The IRS also announced that in 2025:

  • The limitation on the annual benefit under a defined benefit plan will increase from $275,000 to $280,000.
  • The dollar limitation concerning the definition of “key employee” in a top-heavy plan will increase from $220,000 to $230,000.
  • The limitation used in the definition of “highly compensated employee” will increase from $155,000 to $160,000.

IRA contributions

The 2025 limit on annual contributions to an individual IRA will remain $7,000 (the same as 2024). The IRA catch-up contribution limit for individuals age 50 or older isn’t subject to an annual cost-of-living adjustment and will remain $1,000.

Plan ahead

The contribution amounts will make it easier for you and your employees to save a significant amount in your retirement plans in 2025. Contact us if you have questions about your tax-advantaged retirement plan or want to explore other retirement plan options.

© 2024

 

Giving season’s here! It’s time to engage donors | accounting firms in baltimore | Weyrich, Cronin & Sorra

Giving season’s here! It’s time to engage donors

The end of 2024 is rapidly approaching, and you know what that means: You need to fundraise in earnest. According to Double the Donation, 30% of all charitable giving occurs in December. Make sure your not-for-profit organization is top of mind when people pull out their credit cards and checkbooks.

Improve visibility

Only donors who itemize deductions on their 2024 federal income tax return can deduct donations made by Dec. 31. But plenty of others are motivated by the “holiday spirit” to give. And some prospective donors may simply use the calendar as a reminder to make their charitable contributions for the year. To help ensure the charitably minded know you want — and need — their support:

Take part in Giving Tuesday. Since launching in 2012, Giving Tuesday has grown swiftly to become one of the world’s biggest fundraisers. The online event is held on the first Tuesday after Thanksgiving — Dec. 3 in 2024. In 2023, 34 million Americans participated by volunteering and donating, including giving $3.1 billion to nonprofits. If you aren’t set up to participate, go to givingtuesday.org for information.

Focus on a theme or goal. Create a giving campaign around a fun participatory theme (one example being the ALS Association’s Ice Bucket Challenge). Or focus on a specific goal, such as constructing a new facility or introducing a new program.

Check your records. Reach out to supporters whom your records reveal have habitually made year-end contributions. You can also segment your donor database according to gift size and other characteristics that suggest some past donors may be more willing to give now.

Share your stats. Analytics can engage and motivate nonprofit stakeholders, so use statistics and infographics in your year-end appeals. Stats can illustrate your organization’s historical fundraising patterns and current goals. If you update them on your website, supporters will be able to follow your progress through a particular season or campaign.

Be prepared

Attracting support is only part of a successful fundraising season. You also have to make sure you’re equipped to handle donations.

To that end, test the donation page on your website to confirm it’s easy to navigate and ready for donors to input financial information. Your site should adhere to the highest security protocols, load quickly, and be free of dead links and error messages. Ensure your donation app sends emails to thank donors and provide them with a record for tax purposes.

Also critical: being ready to process any available matching gifts. According to Double the Donation, most companies that offer to match their employees’ charitable gifts donate at a 1:1 ratio — but some are known to go as high as 4:1. You can’t afford to miss out! Provide contributors with instructions on how to request matches. Also, set up automated emails to remind donors if you don’t receive a match.

Learn from success

Finally, be sure you document everything you learn — including what works and what doesn’t — this giving season. Contact us for more ideas on boosting your nonprofit’s income.

© 2024

 

Don’t let fraudsters ruin the most wonderful time of the year | business consulting services in baltimore county md | Weyrich, Cronin & Sorra

Don’t let fraudsters ruin the most wonderful time of the year

The hubbub of the year-end giving season, combined with holiday absences, can make your not-for-profit vulnerable to fraud. You’ll need to be particularly vigilant if you generally rely more on volunteers this time of year, hold special fundraising events or intend to give gift cards to staffers and clients. Here’s what to look out for.

Care with cash

Charities generally are staffed by people who believe strongly in their missions. This typically contributes to a culture of trust, which can make nonprofits vulnerable to certain types of fraud. For example, staffers and volunteers may be trusted to accept cash, making it easy for crooked individuals to pocket it. So ensure that a manager supervises anyone who accepts cash donations and keeps meticulous records of all cash received.

If you’re holding a special event this holiday season, minimize the risk of cash theft by preselling or preregistering participants. Also make sure you’re set up to accept credit cards at your event — and encourage credit card payments. If you decide to accept cash at the door, assign cash-related duties to employees who’ve undergone background checks or to trusted board members rather than unsupervised volunteers.

Segregation of duties

Regardless of how busy staffers are processing donations and completing year-end tasks, they need to observe internal controls such as segregation of accounting duties. To reduce opportunities for any one person to steal, involve several employees in processing payables and receivables. For example, every incoming invoice should be reviewed by the staffer who placed the order to confirm the amount and that the goods or services were received. A different employee should be responsible for processing the payment. And a third person (or outside financial advisor) should routinely review your books for any anomalies.

If staffers who usually carry out these responsibilities are on vacation, enlist the help of executives and board members. Don’t cut corners or allow control overrides because you’re operating without a full staff. Instead, you might look for tasks you can put on hold until everyone is back after the holidays.

Gift card risk

Gift card fraud is another potential holiday season risk. If you plan to give gift cards to staffers or clients, be careful about where you buy them. In a scam known as “draining,” fraudsters obtain bar codes, PINs and activation codes by opening gift cards on store display racks. After the crooks reseal the cards, consumers buy and add money to them and the thieves spend the funds before gift recipients get a chance to.

Buy cards only from stores with good security — including security cameras on gift card racks. Also inspect cards for signs of tampering and promptly give them to your recipients, encouraging them to use the cards soon.

Holiday spirit

The period between Thanksgiving and New Year’s Day generally is a critical fundraising season. Don’t let fraud undermine all your hard work and eat into your nonprofit’s revenues — not to mention, ruin your holiday spirit. Contact us for help establishing or strengthening internal controls.

© 2024