YWCA closure points to need for better oversight
In the wake of the demise of the YWCA of the Greater Triangle, funders should require potential grantees to undergo a review of financial oversight by an independent financial professional, not with the goal of pointing fingers but to encourage improved financial responsibility.
Lower-cost alternative to an audit
At a quarter to a third of the cost of a full audit, an ‘agreed-upon-procedures’ engagement can provide a nonprofit with many of the benefits of a more comprehensive evaluation.
Smaller nonprofits more likely to partner
Triangle nonprofits are more likely to want to collaborate with one another if they are smaller and serve one county only, and if the collaboration is smaller in scope and focus, a new survey says.
Setting budget responsibilities for nonprofits
To ensure a smooth and effective budget-development and monitoring process, nonprofits must involve the individuals with responsibility for each line item and program.