I read that a nonprofit employee recently committed suicide after being confronted with evidence that she had defrauded a nonprofit. Was the nonprofit ethically responsible for leading her into temptation? The responsibility for wrongdoing always rests primarily with the wrongdoer....
Donors and agencies, who evaluate nonprofit performance, often look to see that most of your organization's funds are being used for core programming purposes. However, different sources recommend differing practices and policies for allocating disbursements among the functional categories. As...
The numerous corporate failures and director scandals of recent years have brought financial literacy to the forefront of board governance issues today. Literacy signifies the ability to read and understand fundamental financial statements as well as the ability to ask...
Since June 2005, the Canada Revenue Agency (CRA) has had the power to impose penalties on charities for breaking certain rules which stop short of revoking the charity's registered status. These intermediate penalties range from a $500 penalty for not...
When B.C. policeman Caedmon Nash took his financial planner's advice and became an art donor, he never thought the Canada Revenue Agency (CRA) would come knocking. After buying pieces of native art at a low cost, he donated them two...
As treasurer, I work hard to keep the board informed of our financial status and forecast. But when I send or distribute statements, no one looks at them. When I raise the financial status at board meetings, they just say...
Thirty-four years ago a government worried about recessions and revenue streams saddled the Canadian public with a new tax. Charities, community organizations, and individuals have been paying ever since. The Canadian Capital Gains Tax came into existence in 1971 with...
Understanding the nonprofit insurance situation is a bit like trying to decide if the glass is half full or half empty. A February 2004 CharityVillage cover story documented the issues of rising premiums and coverage limitations for many nonprofit agencies....
Many organizations know how to write effective proposals that describe the value of the program and the impact on the community and individuals. They understand the motivation of the funder and their funding initiatives and consequently write a proposal that...
Today's successful non-profit agencies use every tool at their disposal to enhance their financial health. As a result, many have discovered the critical value of the budget document and its implementation. Without a budget and without proper implementation an agency...
