A Line of Credit... Just in Case
Lines of credit for nonprofits can be used for a multitude of scenarios, but most often a line of credit is used to address emergencies or opportunities that can be paid back in the short term. As Managing Partner at Financing Solutions, which is one of the largest lenders of Nonprofit Lines of Credit to […]
The term “capital campaign” was originally associated with brick-and-mortar efforts, such as fundraising for buildings and facilities. However, capital campaigns are actually organized fundraising efforts designed to help nonprofits achieve long-term financial support, not just for bricks and mortar. Why are capital campaigns often the preferred method of fundraising? Because they offer widespread benefits with […]
Mystery Solved: Finding the Best Nonprofit Accounting Software Searching for accounting software for your nonprofit organization can be a tricky process if you’re not sure what to look for. Oftentimes, nonprofits end up using multiple products with different features to meet the unique needs of their organizations, but you shouldn’t have to piece together various […]
Most nonprofit organizations are tackling multiple major projects at one time while simultaneously keeping the day to day running. Fundraising, programs, communications, marketing, and so on each have their own due dates for projects at the same time. If all team members and stakeholders aren’t working together, some due dates for one component of the […]
Nonprofit 990 forms are required for certain nonprofits that are exempt from federal income tax. These nonprofits must annually file a Form 990 on the 15th day of the 5th month after the close of the tax year to maintain their tax-exempt benefits. Nonprofits with gross revenue over $50,000 must annually file an IRS Form […]
How much money a nonprofit can have in the bank doesn’t affect its 501c3 tax-exempt status. What’s crucial and possibly puts the organization at risk is how the nonprofit makes money. Tax exemption status is granted to nonprofits with the understanding the organization only exists to further its charitable goals. The goals or mission can […]
Executive leadership at Nonprofit organizations can be very rewarding because it provides hope for and awareness of your passion. However, a Nonprofit to be successful, a nonprofit executive needs to manage, motivate, and inspire their team. The Executive Director carries a lot of responsibility and therefore must not only be able to lead but also […]
Nothing scares an executive more than seeing a nonprofit budget deficit. You could be doing everything right. However, there could be hiccups in cash flow, an unexpected expense, or a change in the economy. Nonprofit budgeting is challenging because the margin of error is so tight! Take a deep breath, understand the problem and begin […]
There are many business owners who might be looking for working capital loans in Virginia but what you really want is a business line of credit. A line of credit is really the same as a working capital loan. If you are growing your business, you know that growth just didn’t happen by accident. It […]
In the nonprofit world, there are many things that are out of your control. You can’t help it if lousy weather affects attendance at an event or an economic downturn decreases donations. Still, there are other things you do have power over, such as getting help for your nonprofit financial statements with a line of […]
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