Posts by Jonathan Chan
Is Your Nonprofit’s Fiscal Sponsor Doing These Four Things?
Like an umbrella, a nonprofit fiscal sponsor is an established 501(c)(3) that lends its tax-exempt status and administrative backbone, things like accounting and payroll, to a newer group that doesn’t have its own nonprofit status yet. It’s a common shelter arrangement for grassroots projects just getting off the ground. Recently, we’ve been working with a…
Read MoreIs It Okay to Run a Planned Budget Deficit?
We often get this question from clients as budget season approaches, and most organizations fall into one of two camps. On the one hand, I’m reminded of a client we’ve been working with that has been going to extraordinary lengths to end in the black every fiscal year. Their Executive Director feels tremendous pressure from…
Read MoreManual Payables? You’re Probably Losing Money and Don’t Know It
I have a version of this conversation almost every week. A nonprofit leader tells me the books feel behind, the month-end close drags on, and they never quite know where the cash is going. Then I ask how they pay their bills and manage their cards. The answer is almost always some mix of the…
Read MoreWhy a Clean Audit Can Still Leave Nonprofit Leaders Exposed
For many nonprofit leaders, getting through the annual audit feels like a finish line. The auditors have reviewed your controls, the year-end close is complete, and you’ve received a clean opinion. That’s good news. But a successful audit does not automatically mean you are in the clear. At Trustward, we regularly see nonprofit leaders run…
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