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Most Recent Posts
Setting Up a COVID-19 Task Force is a Proactive Strategy
Through many conversations with clients and colleagues, and feedback from participants in my webinars and podcasts, I have found that nonprofit organizations are significantly benefiting from setting up a task force to help respond and react to the many issues and disruptions related to the COVID-19 crisis.
Prepare a Burn-Rate Analysis and Dashboard
During a time of crisis, knowing the ins and outs of your burn-rate is vital because there are so many decisions being made quickly. Having a good handle on your burn-rate enables you to pay more attention to the variable cost side of the equation knowing you have already considered your operational fixed costs through a burn-rate analysis.
Using Operating Reserves During a Crisis: When and How Much?
Many nonprofit organizations have worked very hard over numerous years to build up operating reserves to a level that allows them to be considered a financially healthy organization with enhanced sustainability prospects for weathering an unexpected economic downturn. However, now that we are in the midst of a full-blown economic crisis, organizations that have built-up substantial operating reserves are faced with a real quandary of answering two simple questions: When? and How Much?
Top 10 Legal Action Items for Nonprofits in Light of COVID-19
While the usual legal compliance issues affecting nonprofit organizations (tax compliance, corporate governance, privacy issues, charitable solicitation registration, etc.) have not gone away, the massive wave of new legislation passed in response to the pandemic has made adapting to these new circumstances the number one legal priority for all nonprofits.
Impact of Hyper Change on Financial Health and Continuity
During extraordinary times of hyper change, we are confronted with so many changing elements that making effective management decisions seems overwhelming and finding a starting point feels impossible.