For affordable housing properties and not-for-profit organizations, changing the year end date can be part of a strategic plan to better serve those the organization supports. However, this transition can be confusing, and it helps to have the most up-to-date financial statements to help guide decisions.
Moving to a new office location always brings a mix of excitement and stress. Avoid prolonging the stress of the move by being thorough and considering the financial caveats of relocating your not-for-profit.
When you invest your not-for-profit organization’s money, you want to make sure it’s going to grow and help you accomplish your mission. But all investments come with risk. So help your organization keep track and keep growing your investments by creating a strong investment policy.
If your non-profit organization has been receiving generous donations from a single donor, whether a corporation, family trust, or philanthropist, you may reach the tipping point between being a public charity and a private foundation.
Not-for-profit organizations are mission-focused and often employ scrappy teams who work in multiple roles with the passion of the cause. However, if your organization grows, it may be worth more to your team to focus on your strength zones and not on keeping your own accounting records.