One of the main benefits of registering as a 501(c)(3) nonprofit is that your organization is exempt from paying most taxes. With this provision, you can reinvest all of your revenue back into your organization to help further your mission. However, it might lead you to wonder whether your nonprofit is also exempt from audits. Although the answer to that question is no, nonprofit audits tend to work differently from audits of businesses’ or individuals’ finances, which are usually conducted by the IRS. While there are occasional exceptions, most nonprofit financial audits occur independently of the IRS and are instead conducted by third-party auditors. [...]
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As a nonprofit leader, you likely leverage a variety of digital tools to simplify your fundraising efforts. Not only does software streamline fundraising tasks for nonprofit staff members but it also creates a positive donor experience when supporters interact with it. Easy-to-use tools ultimately help nonprofits grow and retain donors for future support, which is why user-friendly software is a critical part of hosting an auction. In this guide, we’ll explore five ways your nonprofit can make its upcoming auction easier through mobile bidding software: Automated Bid Increments Remote Bidding Bid Notifications Transaction Recording Donor Data Collection From varying event formats to the [...]
With nearly one-third of all charitable contributions occurring during the holidays, the most wonderful time of the year is also the busiest for your nonprofit. There’s no better time to show your thanks to your donors than the holiday season, a time centered around generosity and giving back. Even outside of the holiday season, donor appreciation is an essential part of any advocacy campaign. It’s a necessary tactic for boosting retention, which is important to guarantee a strong start for your nonprofit in the new calendar year. Your appreciation messages should make your supporters feel special. To achieve this, your thank-you [...]