A nonprofit’s viability may depend heavily on the organization’s financial credibility. Proper financial management is essential to the health of any nonprofit and may be pivotal to the protection of the organization’s mission and consequent effectiveness and efficiency. Independent audits and audit committees can help nonprofits make informed financial decisions that further the development and application […]
Author: Hana Takagi
Governance Documents: Diversity, Equity, and Inclusion for Nonprofits
The Center for Effective Philanthropy reports that 70% of organizational leaders in the nonprofit sector consider staff diversity to be of great importance, yet only 36% believe they have actually achieved it. Nonprofit organizations that fight to improve social problems should consider incorporating explicit language on the importance of diversity, equity, and inclusion (DEI) in […]
Why Are Charities Tax-Exempt?
Charitable organizations are eligible to be tax-exempt under section 501(c)(3) of the Internal Revenue Code. This is based on a common belief that giving to charities is good for society. However, with ever increasing reports of corruption and fraud, very large amounts of monies tied up in endowment funds of universities and foundations, and cries of unfair […]