Not-for-Profit

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If you are interested in alternative energy technologies to help manage your business energy costs, there’s a valuable federal income tax benefit (the business energy credit) that applies to the acquisition of many types of alternative energy property.
Many not-for-profits are just starting to emerge from one of the most challenging environments in recent memory due to the COVID-19 pandemic. Even if your organization is in good shape, don’t get too comfortable.
Benchmarking is widely used by for-profit companies but sometimes is overlooked by charities and other nonprofits.  A not-for-profit organization should be committed to benchmarking because it offers many benefits, including long-term sustainability.
Nearly 100 years ago, Olsen Thielen was founded on the belief that personal attention, trust, and quality service were the key elements to helping our clients succeed, and that commitment remains.  commitment to their clients and their community. 
Events of the past year may have put a dent in many not-for-profit organizations' reserves. You possibly could have tapped into your reserve fund to buy personal protective equipment or maybe to pay salaries when your budget no longer proved adequate.
Fraud and embezzlement schemes cost not-for-profit organizations more than just money. The hit to a group’s reputation may scare off donors, grantmakers, and other supporters.
With the competition for donation dollars fierce right now, many not-for-profits are turning to influencers — from Hollywood celebrities to politicians to blog stars — to raise awareness of their organizations and causes.
If your nonprofit has lost financial support during the pandemic, you may be looking for new ways to generate revenue.  However, you need to be very careful if the proposed solution is a side business. 
It’s been almost a year since many not-for-profit organizations sent staffers home — to work remotely. For many nonprofits and employees, remote work has been a positive experience.
If the events of 2020 have taught not-for-profits anything, it’s that financial reserves are essential to long-term survival. An endowment is different from operating reserves and generally is designed to provide a steady income to a nonprofit while its core investments grow untouched.
After a long and remarkable career, Linda Nelson has decided that effective December 31, 2020, she will be retiring from Olsen Thielen.  We want to thank Linda for her knowledge, dedication, and everything she did for clients and colleagues.
Charitable giving is typically more common during the holidays.  Holiday-inspired generosity and the desire to reduce tax liability makes the end of the year a busy time for charitable giving.
Delegation ideally gives not-for-profit executives time to focus on mission-critical tasks and provides growth opportunities to staffers. However, you need to approach delegation strategically.
Financial statement footnotes provide donors, governmental supporters, and other stakeholders with critical information about your not-for-profit. It’s important to work with your CPA to make sure your footnotes are accurate and thorough.
Nonprofit organizations have encountered many challenges in 2020, and the concerns expressed by their leaders are justified.  Their concerns include strained budgets, the ability to deliver on the organization’s promises during a pandemic, and more.
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