Finance and Accounting

Setting up a Retirement account for my nonprofit

I just set up a 403b retirement account for our employees. It was not easy. Even after 8 months or so of researching for the best option for my nonprofit, I still can't tell you much about retirement plans--that is why I am thankful I found Greg Guardiano, an Ameriprise Financial Advisor to help me.

Practical Nonprofit Operations Tips

I really like reading the Chronicle of Philanthropy's Give and Take blog a daily roundup of blogs about the nonprofit world, however I've noticed the folks who write Give and Take tend to write about general sector wide issues or topics that are hot at the moment. That's ok, and many of the posts are very interesting, however I also like reading blogs that provide practical tips and advice for running my nonprofit.

It's 990 Time!

Since our year end is December 31st, I'm currently working with our Accountant to file our 990 for 2006--which is due June 15th. It is rather fitting that while I was attending the West Coast Nonprofit Data Conference over the weekend, I learned about the Urban Institute's Electronic Filing Service for Nonprofits.

Benefiting from CompassPoint

I recently learned that CompassPoint hired a new Executive Director--Jeanne Bell. I don't know Jeanne personally, but know of her because she wrote a book that I use all the time called, "Financial Leadership for Nonprofit Executives." I wish Jeanne the best of luck in her new position!

Nonprofit Operations Brown Bag Lunch-Nonprofit Compensation Plans

Wednesday, March 7, 2007:  Join us for an interactive Nonprofit Operations Brown Bag Lunch discussion about best practices for Nonprofit Compensation Plans.

Check out the Nonprofit Operations wiki where notes from the brown bag lunch discussion will be posted immediately following the event.

My Nonprofit Operations Preparations for 2007

2007 is fast approaching. Here are six specific nonprofit operations steps I take to prepare for each new year.

1. Create 2007 fiscal/vendor folders and put my 2005 fiscal/vendor folders in a file storage box to store. (I do not store my 2006 fiscal/vendor folders because I usually have to access those files periodically throughout the year.)

2. Put all my e-mail folders into a 2006 file and create new 2007 e-mail folders.

3. Verify that I have all my vendor/independent contractor's tax-id's or Social Security numbers so I can send them their 1099 forms in early 2007.

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