A Line of Credit... Just in Case
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 […]
A nonprofit organization comes with a few unique implications. A nonprofit organization’s purpose is to provide support for a cause and because of that, it receives a tax exemption for its revenue because of the good it does for our nation. A common misconception is that a nonprofit can not hold any funds at the […]
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 […]
Most people think that, as a tax exempt entity, nonprofits never have to worry about taxes. This is far from true. For example, there is a new nonprofit tax bill that will have a significant impact on nonprofit organizations. Learn more about how it will affect your nonprofit and what you can do about it. […]
When you are faced with an emergency, all you want are clear, simple answers. For example, you may need to know where to find emergency funding for your nonprofit organization. In an emergency, there tends to be chaos all around and everyone trying to pull you in multiple directions. It’s vital to stay calm, focused […]
There are trends in the economy, popular culture, demographics and technology. Even the world of business is not immune from these general changes or directional developments. For example, current nonprofit trends include getting a line of credit in place. You must remain acutely aware of the changes that can affect the environment of your organization. […]
Question: What do you get when you cross an executive director, community outreach coordinator and a cook? Answer: The CEO at the average nonprofit organization. Yes, when you run a nonprofit, you must wear many hats. You are expected to know everything from the demographics of the community you work in to how can your […]
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