DBD Finance Team

Over the last four years American nonprofits have benefited from unprecedented amounts of federal funding.

The impact of the Covid pandemic on our lives, our society, and our charities and nonprofits, was unimaginable. Nonprofits had to find ways to address community needs in new and different ways.

When thinking about ways to use real estate assets to further a nonprofit’s mission, we often focus on underutilized real estate and how we might turn those into cash. However, as nonprofits seek ways to use contributed and earned revenue dollars more efficiently, it may also be a good time to rethink how you use your office space. 

This month, we're thinking about thanks... especially for those who support nonprofits in their important work. It's time to think outside the box about stewardship. 

By DBD Financial Management Team

Much has been made of support like the Paycheck Protection Plan and Employee Retention Tax Credits that arose from Congressional efforts to address the economic impact of the COVID pandemic.

However, from a tax standpoint, there are some less known provisions that can affect how your donors treat their contributions.

As we head into year-end giving,  you'll be engaging with donors and asking for their continued support.  Being aware of the tax provisions below could come in clutch during these crucial conversations.

By Jim Mellor and Brian Keel

The board of directors is an essential component of nonprofit leadership. We seek boards that are engaged, embrace their roles and responsibilities, are committed to transparency, and value both short- and long-term planning. 

Rules vary from state to state, but every board has significant legal and ethical duties that it cannot delegate to others including legal, management, program, and financial oversight. Beyond the board there may be committees that further assist the organization. Committees have representation from the Board but are also an opportunity to engage other community volunteers to serve, especially if these members have subject matter expertise.

By Jim Mellor and Brian Keel

Recently the CEO of a major charity told us: “People here are dancing in the street! They can’t believe how much funding is now available to us.”  With the passage of the $1.9 trillion “American Rescue Plan”, YMCAs, health and human service agencies, private schools, faith-based organizations, camps, and other nonprofits have access to unprecedented funds. In addition, there were other federal stimulus plans passed in 2020 and programs like 21^st Century Grants, Head Start and others continue to be open for business.