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Monthly Archives: June 2017

Financial Management for Nonprofits

Financial Management for Nonprofits (1)

For nonprofits, strategic financial management is essential for ensuring that organizations remain fiscally sustainable during  changing times. Budget cuts, misuse of funds, and other unanticipated liabilities pose a huge future risk. Having a solid plan for how to respond to unexpected turmoil makes a world of difference. Here are a few tips for steadily managing nonprofit finances.

Strategy

Develop a detailed plan to secure internal  finances. It’s imperative to know exactly where money is coming from and a plan for how it will be used. Here are a few questions to answer when developing a financial strategy (courtesy of KnowHowNonprofit.org).

  • Where are we now?

  • What are our plans for the future?

  • How will we get there?

  • Do we know what the risks are and how we will manage these?

  • How will we manage the competing demands of spending against savings needed?

In additional to those questions above,the following will help in planning a solid financial strategy for your organization. How will the organization generate revenue or will it solely rely on gifts from donors?

The Importance of Cash Reserves

Having a nest egg is key for nonprofits that wish to grow and be financially healthy for the  long-term. Many organizations regularly face uncertainty due to economic conditions and need operating reserve balances to ensure future working capital is available.

Budgeting

A budget is a financial plan that serves as a monthly guide and is crucial in managing  short and long term cash flow.  With budgeting, nonprofits can focus on long, and short term goals while managing  organizational growth.

We hope you find these tips useful in structuring your nonprofit’s financial strategy.

Online Communication Tips For Nonprofits

Online Communication Tips (1)

As with any business, communication is key in keeping a donor base informed and engaged. Whether it’s on social media, through newsletters, or website, online communication is an important part of a marketing strategy. Here are a few tips on how to perfect online communications.

Feature social media follow icons at the top of your newsletter

Don’t make donors have to work to find you on social media. Prominently display follow icons at the top of your newsletter above any content and encourage donors to follow on social platforms. Also, don’t be shy with  calls-to-action. Encourage followers to like, comment, share, or retweet content with which they identify.

Use hashtags, but not too many

Use hashtags in posts and include them in profile bios to increase visibility and raise awareness. The purpose of hashtags is to encourage storytelling and conversation, but never use more than two hashtags per post.

Create social media graphics for EVERYTHING

It’s been proven that all kinds of media see a higher engagement rate online. Try putting your latest report or announcement in a graphic and see the different it makes in reaching donors.

Respond to feedback

It’s especially important to have a system in place on how to handle queries or complaints that you may receive via social media. Promptly responding to complaints shows that you care about the concerns of donors.

These are just a few tips to help you better communicate your content to your donors. Follow us on Twitter for the latest updates from First Nonprofit Group.

Fast Unemployment Cost Facts for Georgia

GA Fact sheet

What do state unemployment tax (SUTA) costs, claims costs and wage base amounts mean to your organization?

These factors could mean less money for your cause.

First Nonprofit Group provides state compliant, individually insured, cost-saving options to satisfy SUTA requirements for nonprofit, governmental and tribal entities. Click here or call  (312) 239-8385 to request a free, no-obligation cost savings evaluation. Evaluations include a 2018 rate projection!

Fast Unemployment Cost Facts For New Jersey

NJ Fact sheet (1)

What do state unemployment tax (SUTA) costs, claims costs and wage base amounts mean to your organization?

These factors could mean less money for your cause.

First Nonprofit Group provides state compliant, individually insured, cost-saving options to satisfy SUTA requirements for nonprofit, governmental and tribal entities. Click here or call (312) 239-8385 to request a free, no-obligation cost savings evaluation. Evaluations include a 2018 rate projection!

Fast Unemployment Cost Facts For Arkansas

Arkansas fact sheet

What do state unemployment tax (SUTA) costs, claims costs and wage base amounts mean to your organization?

These factors could mean less money for your cause.

First Nonprofit Group provides state compliant, individually insured, cost-saving options to satisfy SUTA requirements for nonprofit, governmental and tribal entities. Click here or call (214) 360-2477 to request a free, no-obligation cost savings evaluation. Evaluations include a 2018 rate projection!

Fast Unemployment Cost Facts For Utah

Utah Factsheet

What do state unemployment tax (SUTA) costs, claims costs and wage base amounts mean to your organization?

These factors could mean less money for your cause.

First Nonprofit Group provides state compliant, individually insured, cost-saving options to satisfy SUTA requirements for nonprofit, governmental and tribal entities. Click here or call (503) 858-5622 to request a free, no-obligation cost savings evaluation. Evaluations include a 2018 rate projection!

Fast Unemployment Cost Facts for Wyoming

Wyoming Fact Sheet

What do state unemployment tax (SUTA) costs, claims costs and wage base amounts mean to your organization?

These factors could mean less money for your cause

First Nonprofit Group provides state compliant, individually insured, cost-saving options to satisfy SUTA requirements for nonprofit, governmental and tribal entities. Click here or call (214) 360-2477 to request a free, no-obligation cost savings evaluation. Evaluations include a 2018 rate projection!

Our parent company, AmTrust ranks 475 on the 63rd annual Fortune 500 list!

First Nonprofit Group

We are pleased to announced that our parent company, AmTrust Financial Services, Inc. has been given the distinction of a Fortune 500 company for the first time since its founding in 1998. Barry Zyskind, Chairman and Chief Executive Officer of AmTrust says “AmTrust is honored to join the Fortune 500 alongside an elite group of successful companies, and we’re very grateful to our partners, brokers and agents for their trust in us as we reach this milestone. AmTrust’s inclusion in the Fortune 500 is possible thanks to the hard work and dedication of our people, who live our core values of integrity, diversity, accountability, teamwork, community engagement, and a spirit of entrepreneurship. We adhere to these values every day allowing us to continue to successfully build a best-in-class property and casualty insurer for our valued partners and customers.”

Read more about this announcement at Nasdaq

Fast Unemployment Cost Facts for Idaho

ID fact sheet

What do state unemployment tax (SUTA) costs, claims costs and wage base amounts mean to your organization?

These factors could mean less money for your cause.

First Nonprofit Group provides state compliant, individually insured, cost-saving options to satisfy SUTA requirements for nonprofit, governmental and tribal entities. Click here or call 503-858-5622 to request a free, no-obligation cost savings evaluation. Evaluations include a 2018 rate projection!

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