Whether it’s inflation, trouble finding staffers in a tight labor market or cybersecurity, nonprofit leaders have a lot to worry about. Even though the economy is generally healthy, you can strengthen your not-for-profit to help withstand future challenges. First, keep an eye on cash. Routinely prepare cash and expense projections and review regular reports on funding sources. Second, make unrelated business income tax compliance a priority to help avoid costly issues later. And third, “game” best- and worst-case scenarios and use benchmarks to evaluate financial metrics. Contact us with questions.
