Three major areas where strategic risk commonly arise for nonprofits are the inability to adapt to external shifts, the misalignment of programs with the organization’s mission, and a lack of innovation. Here’s a closer look at each, along with strategies to help nonprofits thrive despite these challenges.
In mid November, the IRS announced that interest rates will decrease by a percentage point for the calendar quarter beginning January 1, 2025. Learn more about what that means for individuals and corporations.
Discover the benefits of being located within a Virginia Enterprise Zone. In this webinar recording, you will learn who is eligible, what grants are available, and how to apply.
Nonprofits are exposed to legal risks that could have substantial financial and reputational impacts. Recognizing and managing these risks is crucial to maintaining trust with funders, partners, and the communities served. Here’s a look at three common areas of legal risk for nonprofits and how they can be effectively mitigated.
What are the key qualities organizations should be looking for in an auditor today? As businesses navigate the challenges of 2025, the role of auditors has expanded. Auditors now play a crucial part in addressing areas like cybersecurity, risk management, and strategic planning, beyond traditional financial reporting and compliance.
The IRS released Notice 2024-80 on November 1, 2024 announcing the new contribution and benefit limits for 2025.
The Historic Rehabilitation Tax Credit (HRTC) Program in Virginia offers significant financial incentives for restoring historic structures. By meeting the Standards, property owners can reduce their income tax liability, claiming up to 45% of eligible rehabilitation expenses—20% from the Federal government and 25% from the State.
Single audits are essential for ensuring that organizations managing federal funds adhere to compliance requirements. While many programs are covered by specific rules in the OMB Compliance Supplement, others are not, requiring auditors to rely on Part 7 of the supplement. Learn more on what you should know about Part 7.
Nonprofits face specific risks that can impede their ability to succeed. Among these are programmatic risks—issues that arise when program outcomes are not met, service quality falls short, or demand for services changes unpredictably. Let’s dive into the essential programmatic risks nonprofits face and strategies to address them.
This year alone, payment delays in the construction industry have added an estimated $280 billion to costs, forcing many companies to rely on personal savings, credit cards, or retirement funds to keep operations running. Implementing an effective accounts receivable (AR) strategy can help construction businesses improve collections, stabilize cash flow, and reduce the financial strain caused by delayed payments.
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