Advantages and Strategic Considerations for Government Contractors with Commercial Clients
Government contractors who also serve commercial clients are uniquely positioned to leverage diverse opportunities while navigating complex regulatory environments. While this dual engagement offers significant benefits, it also requires careful management of compliance and operational strategies. Understanding the dynamics and strategic considerations of this business model provides valuable insights for contractors aiming to maximize their…
D.C. Senior Center Revitalizes its Aging Financial Infrastructure
Challenge: Aging Infrastructure A nonprofit organization dedicated to serving its senior community was struggling with its aging financial infrastructure. The organization relied on multiple disjointed systems for accounting, budgeting, development and external billing. Using outdated systems meant that staff members had to update financial reports, budgets, employee expense reports, and other key information manually using…
Maximizing Operating Reserves: Best Practices for Trade and Professional Associations
Despite the best of intentions, things don’t always go as planned. That’s why an organization’s reserves, or net assets without donor restrictions, serve as a hedge against economic fluctuations, unexpected expenses, and/or revenue shortfalls. With the financial cushion provided by reserves, your association can maintain operations and continue delivering services to members even during the…
Maximizing Clean Energy Tax Credits for Nonprofit Organizations
Are you curious about how your nonprofit organization can leverage the advantages of renewable energy, including Renewable Energy Tax Credits? Many nonprofits are surprised to learn they may be eligible for tax incentives under the Inflation Reduction Act of 2022 (IRA), a landmark legislation that aims to boost the transition to a low-carbon economy. One of the…
Navigating the Complexities of Endowments
For many nonprofit organizations, their endowment is critical to their bottom line. Endowments provide long-term financial stability by allowing organizations to plan for the future, knowing that they have a reliable source of funding to support their mission, programs, and activities. Despite their many advantages though, endowments also come with some rules and challenges. Join…