Structuring an endowed nonprofit

At a quarter to a third of the cost of a full audit, an ‘agreed-upon-procedures’ engagement can provide a nonprofit with many of the benefits of a more comprehensive evaluation.

With a strategic and intentional board-recruitment plan in place for your nonprofit, it’s time to get started.

Identifying and recruiting the right board members for your nonprofit takes a lot of hard work behind the scenes, but the right recruitment plan can yield a committed and effective board.

With leadership transitions increasing, nonprofits should consider interim executive directors, temporary leaders who can take the helm of an organization, help the board and staff address important issues and lay the groundwork for the following leader’s success.

Whether change takes place because of economic, political, legal, competitive or social factors, it is the responsibility of a nonprofit’s leaders to prepare and lead the organization through changing times.

While building a reserve fund for your nonprofit takes planning, dedication and discipline, the financial flexibility reserves provide is critical during good times and bad.

The best board-succession plan is to have a board that operates according to proven practices, an approach that will enable it to perform effectively regardless of planned or unexpected turnover.

Finding a nonprofit’s next executive director, a serious responsibility that falls to the organization’s board, is an excellent opportunity if handled well.

The recession has been particularly hard on arts and culture organizations, but there are steps these groups can take to survive the financial battle.

Given the anemic economic environment, nonprofits need to keep accountability and transparency in mind as they decide what to cut – and not cut – from their budgets.