The Importance of Financial and Budget Statements for Nonprofit Organizations
December 3, 2009
Having good financial and budget statements is important when you want to start approaching foundationa dn corporations for funding. Having your IRS Form 990, detailed yearly budget and budget narrative, and audit available to foundation sends a strong message of stability. Without these documents your organization might find a hard time getting funding.
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A Lasting Impression
November 4, 2009
Denials are a part of the grant writing process, but they should not be the end of your contact with the foundation or corporation. Often donors will decline a request to give to your organization, which is not a reflection of your program’s worth.Respectfully send a thank you note for the time they spent reviewing your proposal.This will leave the foundation with a positive impression of your agency.
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Three Ways to See Opportunity in a Down Economy
October 3, 2009
Businesses and nonprofits should approach this recession as a turning point for their operations. But there are vertain opportunities only nonprofits should consider according to Dennis R. Young, author on nonprofit management and finances.
Use the down labor market to your advantage. Unemployment rathes are up, but, then again, so are rates of volunteering. Those laid off from their for-profit jobs might be looking to move into the nonprofit sector. Competition for technical jobs, such as information systems, isn't as fierce anymore, so see if it's the right time to invest in those positions.
Re-examine governance and board ledarship. You aren't utilizing board members if they are just taking up space. Board members should have useful skill sets and keep your organization up-to-date on growing trends. And the buck doesn't stop at the board members. Ask your board to reach out to others who might want to contribute.
Balance earned and unearned income. Contributions, government support and investment income have all been on shaky ground lately. Young said generally earned income isn't falling hard. Examine how you can increase your earned income without negatively impacting your mission.
What Is the Difference Between a Governing Board and an Advisory Board?
June 4, 2009
By law, every nonprofit must have a governing board. As the name indicates, the role of the board is to govern the organization and be accountable for its actions. The board helps create the vision, mission, values, and policies for the organization and makes sure that they are properly respected.
Also, financial oversight is one of the key responsibilities of a nonprofit governing board.An advisory council or committee (to avoid misunderstandings, don’t call it a board ) usually functions like any committee of the board. It may be created for a specific purpose to assist the board in its work. For instance, advisory councils may focus on fundraising, provide technical assistance, assess the impact of a service or program, or serve as advocates or public relations representatives for the organization. Advisory council members have no legal responsibilities; they have no vested right to serve; and they have no immunity from removal. It is wise to limit a council's actions to making recommendations and providing background information for board decisions. from the BoardSource E-newsletter
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Communicating with your Board
April 7, 2009
Be sure to keep your board informed on programs, activities and financials to ensure that members have adequate knowledge of the current state of your organization.Also inform them about the expected future state of your organization.Board members can’t contribute to their full potential if they don’t know what your organization’s needs are.
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Wise Words
February 9, 2009
“Put it before them briefly so they will read it, clearly so they will appreciate it, picturesquely so they will remember it and, above all, accurately so they will be guided by its light.”-Joseph Pulitzer
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Leave It Alone!
January 5, 2009
Do not alter grant proposals after receiving them from your grant writer without speaking to your grant writer first.Many factors go into the writing of a proposal including page limitations and the specific foundation’s guidelines.Conforming to the foundation’s guidelines increases your chances of getting funding exponentially.
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Time is of the Essence
November 2, 2008
Grants should be sent out immediately upon receipt from your grant writer. The longer the wait before the proposal is sent out, the greater the risk of the included organizational information being outdated. Even if there is no deadline listed for the foundation there is a greater risk of being bumped into a later funding cycle.
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Grant Facts
October 3, 2008
A recent conference on fundraising sponsored by the Association of Fundraising Professionals offered an array of facts concerning grants that could be of interest:
At least half of all grants are for $50,000 or less in all categories.
Foundations generally do not like to be the only source of support for a particular project or organization.
It is good to develop a broad coalition of funders, with foundation support representing only part of the total funding picture.
Be sure to write a thank you note within 2 to 3 days of receiving an award letter or a letter of denial.The number of nonprofits that do not thank their funders is very high.Funders want to know that their gifts are appreciated. When they have to deny your request, funders appreciate your graciousness at being denied and may be more receptive the next time you send them a new proposal.
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