If you want to control costs and improve delivery of your not-for-profit’s services, it’s important to calculate and regularly monitor four key ratios. They are: 1) percentage spent on program activities, 2) percentage spent on fundraising, 3) current ratio (representing your ability to pay your bills) and 4) reserve ratio (representing reserves available during temporary cash crunches). Looking at the right numbers is only the start. To ensure you’re achieving your objectives cost-effectively, make sure everyone in your organization is focused on outcomes directly related to your mission.
A Health Savings Account (HSA) offers tax-advantaged funding of health care costs. If you have a qualified high-deductible health plan, you can contribute to...
Cross-training employees can help protect your not-for-profit’s finances and operations. The process involves teaching staffers to do each other’s jobs so that critical functions...
Let’s say you’re buying a new car and want to get rid of your old one. You’ve heard ads claiming you can get a...