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4 Nonprofit Financial Management Challenges (& Solutions)

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However, you can strategically cut other administrative costs by: Evaluating your organizations insurance plan to ensure youre getting the right amount of coverage for the best price. if you pay for a separate donation processor when your CRM has one built in).

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Your Unrestricted Funds Need Stewardship, Too

Blackbaud

These grants typically have goals associated with them—the foundation has a specific mission, or the government grant wants to address a specific societal issue. Many don’t cover operating costs or have a small allotment for indirect costs such as salaries, insurance, and utilities.

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Should You Accept ANY Type of Nonprofit Donation? (And How Should You Gracefully Decline a Gift?)

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Record the donation in your CRM platform as being from the bank. Your CRM platform has instructions on how to do this. Miscellaneous: Even life insurance policies, annuities, IRAs and other types of gifts should be straightforward to accept, as long as they can be liquidated. Simply thank the donor for their generous gift.

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10 Tips for Managing Crisis Volunteers in Natural Disasters

Blackbaud

Volunteer hours in a natural disaster may also be eligible for reimbursement from the government. Add them, if they are willing, to your affiliated volunteer roster and to your constituent relationship management (CRM) platform so you can keep them apprised of opportunities to support your mission in the future.