Nonprofits need to plan their finances just like any other business.
Unlike their for-profit counterparts, a nonprofit organization receives a majority of their funds from grants and donations, often restricted for a certain program or for use in the future. Budgeting, forecasting, and planning can be difficult with varying streams of income and compliance issues.
Financial and insurance services contribute significantly to the success of a nonprofit organization and allows it to better accomplish its mission. In this time of diminishing government support, astute use of available resources followed by a well-developed retirement plan may be the key to a nonprofit's survival.
Although no two organizations are exactly the same, there are many strategies all nonprofits should consider to protect their board members, employees, volunteers and customers as well as the business as a whole. Feel free to contact our office to learn more.