The demand for nonprofit transparency and accountability has intensified. Funders and donors alike want to see evidence of optimal stewardship. This demand goes beyond simply showing that funds have been spent as intended. Donor and funders want to see the granular impact of the money spent.
The start of 2016 has not been a good one for the financial markets. For many, the downward trend brings back painful memories of the great reset of 2008 and 2009. For organizations relying on the revenue generated by endowments, this may impact the amount of funds available for the programs, scholarships, research and other activities to which they’ve committed financial support.
The availability of robust nonprofit software solutions in the cloud means there are more choices for organizations as they look for new fund accounting software solutions. With the entry of cloud applications to compete with on-premise solutions, does it make the decision-making process more complex for nonprofits as they look to replace aging systems or systems they have simply outgrown?
It is notable that 40 percent of the nonprofits are upgrading hardware or software to improve organizational efficiency. Three major technology trends include the move to the cloud, the increased use of mobile applications and online giving
Whether your organization has chapters all over the country or is a small grass roots project with just one office and a small staff, the success of your organization depends on careful monitoring of finances.
The Internal Revenue Service estimates that there are more than 1.5 million organizations in the United States that qualify as tax-exempt under Section 501(c) of the US Tax Code. That’s a decline of some 22 percent over 2010 levels, and despite a recent increase in applications for some types of tax-exempt entities, it is clear that the challenges facing Nonprofit organizations are intensifying.
42% of survey respondents report that they do not have the right mix of financial resources to thrive and be effective in the next 3 years.
1 in 4 nonprofits has 30 days or less cash-on-hand.
Over the next twelve months, 39% plan to change the main ways they raise and spend money.
23% will seek funding other than grants or contracts, such as loans or investments.