May 13, 2013
Record-keepers at nonprofit organizations have a lot to track of on a daily basis; donations, fixed expenses and salaries are just a few things they have to juggle while also looking into financial forecasting for the next six to 12 months. Keeping this in mind, it may be smart to use a records management program to help reduce risks.
A new study from Canon Business Process Services, a provider of managed services and technology, showed only 15 percent of executives surveyed said their organization has implemented a risk assessment to determine appropriate retention periods for their records. Failing to have a strategy for records retention could make an organization vulnerable to litigation or miss out on untapped opportunities.
"Whatever records management strategy an organization adopts, the goals should be clear," said Elizabeth Halaki, chief marketing officer at Canon Business Process Services. "Our current and previous surveys indicate that companies want their records programs to help mitigate compliance risk, leverage proven technology and better control their information assets."
Records management strategies must improve
Thirty-eight percent of respondents admitted to not conducting a needs assessments that could help solve problems for the organization, but these initiatives are the only thing that could help with records management. The days when nonprofits keep books by hand are coming to an end, and organizations are using digital processes instead.
One place where records can be stored is the email inbox of record-keepers, giving them quick access to the information they need, while also providing the opportunity to log on from anywhere. Email can be a permanent record, and nonprofits decision-makers can create folders for their messages much like they would a filing cabinet, if security measures are in place. By learning how to better keep records, nonprofits won't be scrambling come audit time.
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We first started using First Nonprofit’s Unemployment Savings Program when we were a small startup nonprofit. We didn’t have an HR department and needed expertise in the event that an unemployment claim was made. We knew we were eligible to be a reimbursing employer, but weren’t sure how to navigate that process. They made it easy to set things up, plan for, and then manage claims when they came at a very reasonable cost. The amount of time and stress they’ve saved us dealing with all this has been worth way more than the cost. We’ve now grown to a large nonprofit and do have an HR department but have no plans to stop using their services. I highly recommend them to every nonprofit I come into contact with!
Throughout our membership in the Unemployment Savings Program, First Nonprofit understood our demands, community dynamics, and the importance of seamless services; that allowed us to serve our constituents better.
Because INCS advocates for the operating conditions that allow charter public schools to provide high quality public education, partnering with First Nonprofit was an easy decision. First Nonprofit’s unemployment programs provide our member schools two operating elements crucial to their ability to provide high quality public education: savings and budget certainty. Capable, committed teachers are the key to student success. By participating in the unemployment insurance savings plan, charter public schools gain peace of mind and are able to invest more money in their teachers.
It has been our sincere pleasure to maintain a strong, vibrant business partnership with First Nonprofit. We greatly admire their strong industry knowledge, technical expertise, constant professionalism, knowledgeable and dedicated staff. They are always extremely responsive, personable and provide us with the necessary guidance and recommendations on a numerous variety of employment scenarios.
NYCON members who use First Nonprofit’s programs enjoy enduring savings and improved efficiency. Our association knows that success, because from the beginning, we achieved the same great benefits. Great savings, seamless technology, and responsive service. NYCON highly recommends First Nonprofit’s remarkable unemployment solutions.
Visually Impaired Preschool Services has been a client of First Non-Profit since it was first offered as a benefit of VisionServe Alliance. We completed a thorough evaluation of cash savings to our agency before taking advantage of this wonderful benefit and it has been a very wise decision. Our experience with the processes from accounting to claims have been professional, expeditious and easy.
Luckily for us, our interactions regarding any issues with staffing has been very minimal! I can say that all other interactions with regards to billing, 941 reporting, etc. have been extremely pleasant, accommodating and easy to work with. Kim Ghanayem is always prompt, professional and friendly. Thank you so much!
First Nonprofit has been easy to work with and makes the administrative process easier and smoother. We enjoy working with you.