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Majority of charities worldwide report donation decline A survey conducted by CAF America, a global nonprofit grant-making organization, found that 73% of the 880 organizations in 122 countries queried have seen a decline in contributions due to the COVID-19 pandemic. Half of those surveyed from April 30 through May 6, 2020, indicated that they expect

Current economic challenges are leading many nonprofits to take a close look at their expenses. The costs of your facilities may be overlooked during a cost-cutting process because they seem unavoidable. But the choice between renting and buying property to house your organization can have substantial cost implications. This makes it important to evaluate the

Your board is responsible for reviewing your nonprofit’s financial results so it can make sound decisions. But not every board member arrives at your organization with a financial background. Here are some suggestions for relaying some of the most vital information they need to know. Communicating the balance sheet A statement of financial position shows

The COVID-19 pandemic and resulting recession have put many nonprofits in an unprecedented predicament. Revenues have dropped precipitously as organizations struggle to continue their missions in a dramatically different environment. And they face mounting unexpected costs as they try to protect the health and safety of their employees, clients and volunteers while doing so. It’s

Concerns related to the use of financial metrics that don’t conform to U.S. Generally Accepted Accounting Principles (GAAP) are nothing new. But the pandemic has sparked renewed interest in this subject, particularly as it relates to adjustments for COVID-19 when reporting earnings. Concerns from investors and lenders have prompted increased scrutiny from the Securities and