Nonprofit 411: How Inclusionary Practices Can Empower Traditionally Underrepresented Investors to Save More for Retirement

Nonprofit 411 CORE-minBy Lisa Cardinal, Associate Sales Director, Massachusetts CORE Plan

A survey conducted by The Harris Poll on behalf of Empower Retirement reveals that many employees experience a sense of disconnection from the retirement and financial services industries. In the short term, this disconnection can cause confusion about how best to plan for the future, and in the long term it can result in a less secure retirement.

Our results also show that traditionally underrepresented groups are behind when it comes to retirement preparation. In other words, not only are there perceived inequities across demographics, but there are also realized retirement inequalities.

One reason for this retirement inequality is that a higher percentage of traditionally unrepresented groups do not have access to workplace retirement plans. Having that access increases the likelihood that an employee has begun saving. In addition, traditionally underrepresented employees tend to lag their counterparts when it comes to their income levels. It stands to reason that this disparity may impact the ability of lower-income employees to save for retirement.

Investors who have been traditionally underrepresented recognize the need for more financial education and guidance, but many are uncertain where to turn for unbiased advice. Many employees who are not white men say they will not be taken seriously as a client by a financial services company.

Perhaps as a result, many of these employees are turning to family, friends and colleagues for financial advice instead of financial advisors. This leaves a large percentage of Americans relying on sources that are not necessarily trained for providing retirement savings guidance.

To help people of all demographics save effectively for retirement, employers and financial services providers should constantly evaluate and re-evaluate communications, retirement plan offerings and employee outcomes, then make adjustments as needed. This effort starts with understanding the current reality of employee attitudes and outcomes.

According to the Harris Poll survey, the top 5 ways respondents want to learn about retirement are:

  1. Online tools I can use to fit my needs/situation
  2. Easy-to-read articles on websites
  3. Personalized information about my savings
  4. Classes I can view online to educate myself
  5. Visual information

Tackling the retirement wealth gap starts with communicating to employees clearly and straightforwardly about their retirement saving opportunities. Employers and advisors who can take the time to understand investors’ needs are more likely to connect with them. Additionally, financial services providers should make sure all employees have access to unbiased retirement advice and increase participation throughout the organization, so the population of retirement savers better reflects the makeup of society. Over time, such efforts can help close the retirement wealth gap.

The Massachusetts CORE Plan is an affiliate member of the Massachusetts Nonprofit Network and a 401(k) retirement plan designed specifically for Massachusetts nonprofits.

For additional information about the CORE Plan, please contact Lisa Cardinal at 617 510 4036 or lisa.cardinal@empower-retirement. com or visit

Why Nonprofits Should Move Beyond 2-hour DEI Workshops

christina-wocintechchat-com-jzonFmreWok-unsplash-minBy YW Boston

Many nonprofits beginning their commitment to diversity, equity, and inclusion (DEI) start with holding a workshop. A workshop can be the start, but it should not end there. As Sharon Maylor Ph.D., YW Boston’s Organizational Development Manager, explains, “If you are looking to frustrate your staff, only do a workshop. They will ask ‘what’s next?’”

Sharon works with organizations as they develop and implement their DEI action plans. She also supports with facilitating workshops. So, we sat down with her to get a clear picture of when workshops can be beneficial to an organization, and why they must always be followed by longer-term commitments.

Workshops can help created shared language.

In order for staff to be effective in their DEI initiatives, everyone must have some level of proficiency in topics of equity and inclusion. Workshops serve to create this shared language among staff, and to facilitate communication between staff members around this language. For instance, in a workshop on social identities, participants learn about the identities they hold and how they impact their work life. By having a baseline understanding together, staff members can feel confident driving DEI work together in the future.

Workshops cannot provide all of the knowledge or skills your staff needs.

The most common feedback participants share after workshops is that there was simply not enough time. Each workshop includes time for staff to discuss where their organization is in their DEI journey, and how they can apply what they’ve learned. This only scratches the surface of how deeply workshop participants need to assess their own organization. If there are no next steps planned, employees will return to their workflow silos without continuing their work.

Organizations will benefit from creating spaces where their staff can continue to learn together and can spend the necessary time evaluating gaps in their organizations’ DEI. They can build on the shared language they’ve learned during the workshops. This dedicated time results in a staff ready to create and implement a DEI action plan. Participants begin to connect the dots between their organization’s needs and their power to make change.

Should my nonprofit host a workshop?

To help you decide whether your organization should participate in a workshop, determine what you are trying to solve. If you want to ensure that your staff knows about DEI terminology, a workshop can help you get there. A workshop can also help you demonstrate to your organization that there is an appetite to do this deeper work.  If you are looking to create an effective DEI plan, you won’t find it with one or even a series of workshops. Don’t use workshops as a way to signal commitment when your organization hasn’t planned any further action steps.

Instead, ensure you set aside the time it takes to understand your organization’s needs, build trust, and implement an action plan. Workshops may fill a need within this long-term plan, but you must make it clear to staff that your nonprofit’s time investment is action-oriented and ongoing.


About YW Boston
As the first YWCA in the nation, YW Boston has been at the forefront of advancing equity for over 150 years. Through our DE&I services—InclusionBoston and LeadBoston—as well as our advocacy work and youth programming, we help individuals and organizations change policies, practices, attitudes, and behaviors with a goal of creating more inclusive environments where women, people of color, and especially women of color can succeed.

As part of that work, we are helping organizations prioritize Diversity, Equity & Inclusion and become socially connected while staying physically distant. During this time, YW Boston is providing organizations with digital workshops and resources to help them better understand the challenges faced by their employees. For more information, please contact Sheera Bornstein at

Nonprofit 411: Insider Tips for Grant-Writing Success

Nonprofit 411 People's-minBy Karen Galbo, Executive Director,VP; Foundation and Community Relations, People’s United Bank

Being able to effectively compete for grants is a mission-critical endeavor for the nonprofit sector. Whether an organization is seeking funds to expand key programs, launch new initiatives, obtain necessary equipment or services, or hire additional employees, grants provide crucial financial support that allow nonprofits to fulfill their purpose.

Not surprisingly, seeking a grant can be a high-stakes situation! Constraints on time, resources, and know-how can make grant-writing challenging—and even intimidating—but there are strategies and approaches that make the process easier and more effective. Ultimately, the most successful grant proposals provide compelling, specific information; are clearly and concisely written; and align well with a funder’s priorities.

Here are some quick tips:

  1. Do Your Due Diligence!

Research is the most crucial part of the grant-writing process. The very first step, therefore, should be to understand what the funder is looking for. Visit the funder’s website and study up on their focus areas and funding priorities, the size and levels of the grants they typically award, and other organizations they have funded recently. In addition, make sure your organization meets the minimum eligibility requirements for the grant you are applying for, and be sure to familiarize yourself with the application deadlines and submission process to ensure you can meet all criteria.

  1. Be Clear and Concise

While it can be tempting to wax poetic about every detail of your nonprofit’s history, mission, and efforts, grant writing is often a less-is-more endeavor: it is imperative to provide the requested information in a clear and concise manner. Be sure to convey your organization’s purpose and how you plan to use the grant funding to further the mission and drive impact—but do so without including unnecessary details or irrelevant information.

  1. Share Specifics

Nonprofit 411 Peoples textbox (1)-minA successful grant application should contain both quantitative (“100 participants graduated from high school, and 95% were accepted into college”) and qualitative data (“We were able to safely welcome students back into the classroom for in-person learning after COVID; parents indicated they felt confident in our health and safety practices”). Including outcome measurements that a funder may be looking for will help your grant proposal resonate with the reviewer. In addition, sprinkling in success stories—briefly—is a great way to provide a personalized view of the work your organization is doing. Talk to the program director(s) in your organization for key feedback that can help articulate these real-world results. Be sure to avoid industry jargon or abbreviations and acronyms that might be commonplace in your world, but unfamiliar to someone else.

  1. Follow Directions!

Funders set up specific parameters for filling out and submitting grant applications and staying within those parameters is key. If they indicate that a certain section should be one to two sentences long, stick to that length; if they do not want you to repeat information in multiple sections of the application, honor that request; if they specify that you submit the grant application via a web portal (and not via email), be sure to do so.

Remember, grants are available for a reason: funders want to partner with worthy nonprofits to fund projects that will drive change and elevate communities. Following these tips will help position your organization as the perfect recipient for their funds.





Nonprofit leaders, your DEI commitments did not end with the 2020 presidential election.

Picture1-minBy YW Boston

During the summer of 2020, we saw many organizations supporting diversity, equity, and inclusion (DEI) work. Finally, it was not enough to provide nominal support – nonprofit staff and constituents brought these topics forward and demanded real change. Toward the end of the year, we started to see this momentum wane. Last summer, it was hard to ignore what was right in front of us – two interlocked pandemics, COVID-19 and systemic racism. And our president at the time did not consider either to be a major concern.

Now that we have had a transition of power in the White House and the COVID-19 vaccine rollout is picking up speed, we have to ensure we don’t step away from our commitments. And as more organizations express their support of the Asian American Pacific Islander Community, we have to ensure we stay accountable to these public statements. While it may feel like we are reaching the end of a particularly dark year, remember that the inequities that made this time difficult still permeate our institutions. Now we must recognize: by committing to DEI, we will strengthen our work toward our missions, too.

This past year helped many leaders come to realize that aspects of their employees’ lives, such as their family’s needs or their racial identity, are not shed when they start working. These lived experiences can impact how secure people feel working at an organization, and leaders should meet any concerns with acknowledgment, empathy, and action. Strong leaders will take much of what they learned this past year forward. They will hold difficult workplace conversations and allocate resources to support employees.

While we saw a burst of energy and enthusiasm for DEI work last summer, now may actually be the best time to get organized. Anouska Bhattacharyya Ph.D., YW Boston’s Director of InclusionBoston, explained that, “There was a real haste last summer that meant folks wanted to show they were anti-racist RIGHT NOW. Rushed inclusion often leads to exclusion!” There is no one-size-fits-all solution for DEI work. Successful organizations are pacing the work with a “greater understanding that sustainable and equitable practices need to be baked into their daily praxis.”

Be sure to integrate time for research and reflection. One of the strengths of our InclusionBoston program is the space it provides for organizational assessment and relationship building. This provides a strong base of trust and understanding on which to build a successful plan. Once it is time for action-planning, we at YW Boston recommend following a SMARTIE plan. Evaluation is crucial throughout the entire process to understand your baseline and growth.

Remember, Anouska says, that there will be hiccups along the way which are an opportunity to find your growing points: “Hiccups are an opportunity for you to recruit more of your team into the solution. The greater the buy-in across your staff, the greater your successes.” By working through these stuck points, organizations will build the skills necessary to ensure their DEI work continues to deepen and grow.


About YW Boston
As the first YWCA in the nation, YW Boston has been at the forefront of advancing equity for over 150 years. Through our DE&I services—InclusionBoston and LeadBoston—as well as our advocacy work and youth programming, we help individuals and organizations change policies, practices, attitudes, and behaviors with a goal of creating more inclusive environments where women, people of color, and especially women of color can succeed.

As part of that work, we are helping organizations prioritize Diversity, Equity & Inclusion and become socially connected while staying physically distant. During this time, YW Boston is providing organizations with digital workshops and resources to help them better understand the challenges faced by their employees. For more information, please contact Sheera Bornstein at

Nonprofit 411: Where We Have Been & Where We Are Going – Considerations From an HR, Finance, and IT Perspective

Nonprofit 411 Insource-minBy Saleha Walsh, Vice President, Insource Services, Inc.

In this year of surreal change and anxiety, it can be a challenge to appreciate the progress and transformation many organizations are experiencing. As a firm that supports many nonprofits with their back-office business operations, we too were propelled into quick action a year ago and reflect on the trends we’ve seen as our clients adapt to this new reality.

The shift to a suddenly remote workforce and the events in the world has presented leaders with the dual challenge of stabilizing operations and rising to support employees as they juggle work/life balance. We hope sharing some of these trends will show you that you are not alone and may prompt you to consider some of these options at your organization.

Employer Challenges

  • Pivoting to remote operations and now, considering the office of the future (remote, traditional, hybrid), automating tools and processes
  • Providing more support for employee wellness and mental health
  • Proactively taking a stand on civic responsibility and exploring practices with a DE&I lens
  • Stabilizing operations in a time of uncertainty

Trends and Strategies

Different and more frequent employee check-ins

  • Town halls and issue forums
  • Deliberate connection – create “water cooler” time – chat, video, phone
  • Be the bearers of good news – positive updates, reassuring transparency

Reexamination of space and equipment, IT needs

  • Individual offices vs. congregate space considerations, what do you need, how do you want to invest your office dollars
  • Equipment needs review (copiers, phones, faxes – are they needed anymore?)
  • Reviews of IT system reliability and security, related policies
  • Reviewing computing needs for increasing applications (Zoom, Teams, etc.)
  • Incorporating collaboration tools into systems (SharePoint, Teams, Office 365, etc.)
  • Shift to cloud-based recordkeeping and investment in IT infrastructure
  • Increased IT security to avoid scams – multi-factor authentication, device monitoring
  • Staff security training

Showcasing and engaging staff

  • Creating affinity groups, DE&I educational opportunities (formal training, informal Read and Reflect sessions, or other opportunities for dialog)
  • Forming cross-organizational communication committees to address employee information needs and concerns

Providing increased employee support

  • Uptick in employee assistance programs (through disability carriers/free or standalone resources and training)
  • Expressing care and appreciation (thoughtful gifts mailed to employee’s homes, etc.)
  • Intranet reboots
  • Redesigning benefits around new realities (meal delivery vs. pre-tax parking, etc.)

Reexamining traditional standards and tools of productivity

  • Considering flexible standard work hours and locations
  • Modifying policies to accommodate remote or hybrid work requirements (security, childcare, reimbursement standards, etc.)
  • Work as a place of purpose and productivity vs. a location
  • Automation of financial processes – implementation of, Expensify, DocuSign, and other automated and streamlining tools – replacing traditionally paper transactions
  • Retaining proper segregations of duties and updating accounting procedures

Setting a standard of corporate citizenship and responsibility

  • Giving back, employee matching programs
  • Creating a learning environment
  • Taking a stand
  • Increasing and supporting diversity and inclusion efforts

These are just a few of the trends we’ve been seeing in our work with clients. While this has been a stressful and difficult time, there have been some silver linings. As we emerge from the past year’s tribulations, we are grateful to have survived and honored to have witnessed all the good that can come out of even the darkest of times.

Insource Services offers outsourced, part-time HR, Finance, and IT services to small to midsized organizations. If you are interested in an assessment of your operations in any of these areas or would like to learn more about our services, please contact us at


How nonprofit leaders can communicate more effectively with diverse teams

OSS-minBy YW Boston

Over the past year, living and working in the midst of a pandemic, mourning the loss of many more Black lives to racism and anti-Blackness, and witnessing a violent insurrection on the U.S. Capitol, many nonprofit leaders have had to re-examine what it means to be an effective leader. In the face of unprecedented and compounding challenges, nonprofits are more aware than ever of the importance of instilling inclusive communication skills within their organizations. Leaders, tasked with supporting and guiding people who hold a variety of social identities and personalities, bear an especial responsibility when it comes to communication and accounting for the diversity within their teams.

Understand how social identities impact communications

Social identities inform how we experience life, including the workplace. At YW Boston, we define identity as “the way an individual thinks about themself, the way they are viewed by the world, and the characteristics that define them.” Social identities include race, gender, age, ability, sexual orientation, religion, immigration status, class. What’s more, these identities intersect and create compounded advantages and disadvantages. The exploration of social identities is invaluable for leaders, given that these identities not only impact how we are perceived by others but how we perceive ourselves.

Beware of communication blockers

“Yes, but…” is one of the most reliable ways of derailing conversations and leaving others feeling unheard. Stealth “buts” also include:

  • “I understand where you’re coming from… However,”
  • “I see your point… Nevertheless,”
  • “That may be true… On the other hand,”
  • “You could say that…only,”
  • “You’re right…it’s just that,”

In order to combat the use of stealth “buts” and their derivatives, it’s important to begin building awareness around when these communication pitfalls come up and how often we use them. When we challenge ourselves to use different language, we begin to notice when and how our implicit attitudes occur. Try shifting from “buts” to “builds” by building upon the person’s idea before adding your own thoughts or before asking a question. Your questions should reflect curiosity and interest, not a desire to persuade or “poke holes” in an argument. If you wish to state your disagreement with what someone says, do so explicitly and respectfully.

Be cautious of mind-reading

Mindreading describes instances when we try to infer what other people are thinking without seeking clarification. Mindreading can cause us to form opinions or act upon assumptions. It is a significant barrier to effective communication as it can further entrench misunderstandings. Below are some signs that can help you identify if and when you are mindreading, so that you can disrupt the cycle:

  • You spend more time imagining than having real conversations.
  • You spend more time talking about others than to them.
  • What you think others are not saying affects you most.
  • You often wonder what others think of you.
  • You think others aren’t telling the whole truth.
  • Many things people say tend to bother you.
  • Others often remind you of someone you know or once knew.

It’s essential for nonprofit leaders to understand how social identities and the internalized and externalized assumptions that accompany them influence our communications. Only then can leaders and organizations be fully equipped to succeed in a vastly diverse workforce.


About YW Boston
As the first YWCA in the nation, YW Boston has been at the forefront of advancing equity for over 150 years. Through our DE&I services—InclusionBoston and LeadBoston—as well as our advocacy work and youth programming, we help individuals and organizations change policies, practices, attitudes, and behaviors with a goal of creating more inclusive environments where women, people of color, and especially women of color can succeed.

As part of that work, we are helping organizations prioritize Diversity, Equity & Inclusion and become socially connected while staying physically distant. During this time, YW Boston is providing organizations with digital workshops and resources to help them better understand the challenges faced by their employees. For more information, please contact Sheera Bornstein at

Nonprofit 411: 2021 Employee Retention Credit – Are You Eligible?

Nonprofit 411 CLA-minBy Raechel Grady, CPA, MSA, Senior Associate, CLA (CliftonLarsonAllen)

The Consolidated Appropriations Act, 2021 (CAA 2021) expanded the employee retention credit (ERC). We’ve answered some frequently asked questions to help you determine whether your organization is eligible.

What periods are ERC available for?

CAA 2021 modified the ERC to make it available for the first two quarters of 2021. It was originally set to expire on December 31, 2020.

If my organization received a PPP loan, is it still eligible for the ERC?

Prior to the passage of CAA 2021, employers that received a PPP loan could not claim the ERC. CAA 2021 changed this rule retroactively. Now, employers that received a PPP loan in 2020 may claim the ERC for qualified wages paid after March 12, 2020 and before January 1, 2021 — if they are otherwise eligible for the credit. However, an employer cannot claim the ERC on wages it uses to receive PPP loan forgiveness.

Who is eligible for the ERC?

If an entity’s operations were fully or partially suspended due to a government order, then the credit is applicable for the dates the government order is in effect. Employers may also be eligible if they had a significant decline in gross receipts — less than 80% compared to the same quarter in 2019. If an organization was not in business in 2019, it can use 2020 as its comparison year.

What is the amount of the ERC in 2021?

Effective January 1, 2021, the maximum credit increased to $7,000 per employee for each of the first two quarters of 2021, for a possible $14,000 credit per employee. The 2021 credit is available even if the employer received the $5,000 maximum credit for wages paid to such employee in 2020. Under the new law, the credit is also allowed for hazardous duty pay increases.

Are there limits to the size of an entity that can apply for ERC?

Effective January 2, 2021, an employer with 500 or fewer full-time employees will be eligible for the credit, even if employees are working. When calculating the 500-employee threshold, the employees of affiliated companies sharing more than 50% common ownership are aggregated. For entities with more than 500 full-time employees, the ERC can only be claimed for those employees who are not providing services.

Still have questions?

Visit and reach out to a trusted professional who can help you understand ERC eligibility requirements and provide strategies to enhance economic relief for your organization.

The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting, investment, or tax advice or opinion provided by CliftonLarsonAllen LLP (CliftonLarsonAllen) to the reader. For more information, visit

CLA exists to create opportunities for our clients, our people, and our communities through our industry-focused wealth advisory, outsourcing, audit, tax, and consulting services. Investment advisory services are offered through CliftonLarsonAllen Wealth Advisors, LLC, an SEC-registered investment advisor. 

What we learned about Diversity, Equity & Inclusion in 2020 and how to improve in 2021

Feb2021MNNBlogPostSharedSector-minBy YW Boston

Recently, David Brooks, New York Times Op-Ed columnist, shared an article explaining why the current models used to address Diversity, Equity, and Inclusion (DE&I) aren’t working. In the article, Brooks explains how bias trainings, although conducted with good intent, “don’t reduce discrimination” for several reasons. Study after study has shown that racial diversity training does not accomplish the task for which it is intended and, at times, is even counterproductive. Some of the reasons behind this, as laid out by Brooks and as the year 2020 has demonstrated, include that:

  1. “Short-term educational interventions, in general, do not change people.”
  2. Training can activate stereotypes in people’s minds rather than eliminate them.
  3. Training can make people complacent.
  4. Mandatory trainings make many White participants feel left out, angry, and resentful, actually decreasing their support for workplace diversity.
  5. People don’t like to be told what to think and may rebel if they feel that they are being pressured to think a certain way.
  6. Training models of “teaching people to be good” are based on the illusion that you can change people’s minds and behaviors solely by presenting them with new thoughts and information.

At YW Boston, we agree with Brooks’ main point: addressing, reducing, and ultimately eliminating intrinsic biases requires more than one 2-hour training. One-time trainings alone do not and will not suffice in bringing about the systemic changes that we need to address organizational inequities.

Through our work with nonprofit organizations looking to advance DE&I, YW Boston has found that we must not conclude that trainings aren’t helpful altogether. Instead, it’s important to ask, what is a more effective way to bring about social change in the workplace?

Brooks suggests that we need permanent physical integration, not trainings. At YW Boston, we believe that there must be multi-level interventions for true organizational change to occur. Driving real change towards a more inclusive and equitable workplace requires both continuous training and intentional policies and practices that can address the structural barriers to permanent physical integration.

For this reason, our InclusionBoston model addresses inequities at the micro (individual), meso (interpersonal), and macro (institutional) levels. Through a long-term organizational partnership, YW Boston provides formative and summative assessments, root-cause analysis of organizational strengths and challenges, and delivery of a five-part dialogue series that develops shared knowledge, trust, and skills in all participants—all of which are prerequisites to creating sustainable change within an organization. Using the knowledge and trust the cohort builds through the YW Boston-facilitated sessions; participants develop an action plan to address DEI challenges within their organization.

While we agree with Brooks that our current model of social change is fractured, we don’t want to lose some of its valuable elements. Trainings are not the cause of the fracture and are not insufficient unto themselves, but rather the manner in which trainings are conducted–either ad hoc or without proper guidance–that render them ineffective for the broad changes we need as a business ecosystem and society at large.


About YW Boston

As the first YWCA in the nation, YW Boston has been at the forefront of advancing equity for over 150 years. Through our DE&I services—InclusionBoston and LeadBoston—as well as our advocacy work and youth programming, we help individuals and organizations change policies, practices, attitudes, and behaviors with a goal of creating more inclusive environments where women, people of color, and especially women of color can succeed.

As part of that work, we are helping organizations prioritize Diversity, Equity & Inclusion and become socially connected while staying physically distant. During this time, YW Boston is providing organizations with digital workshops and resources to help them better understand the challenges faced by their employees. For more information, please contact Sheera Bornstein at

Nonprofit 411: Best Practices for Data Security with a Remote Workforce

Nonprofit 411 KPM-minBy Dan Keleher, Executive Director, KPM Consulting

In response to the COVID-19 pandemic, many nonprofit organizations made significant changes to their operations, systems, controls and the way their employees were working.  Many employees were moved to a remote environment for the first time, and as things changed rapidly, data security may not have received the attention it deserved. Now that the initial rush is over, and many nonprofits continue to operate remotely on a part- or full-time basis, this is the time to revisit whether these changes may have compromised your data security.

Remote Employees

  1. Be aware of phishing and social engineering schemes. Employees should remember to always check the sender’s email address, look twice before clicking any attachments, and when in doubt call or email (starting a new thread) the person you think sent the email to confirm that the request is legitimate.
  2. Encourage employees to revisit their password security. Consider using passphrases instead of smaller passwords. A passphrase is a phrase that is easy for the user to remember and then you can add complexity by capitalizing letters or adding numbers. Remember to use a unique password for each system you use.
  3. Remote employees should never use public wi-fi connections when working with sensitive data. Ideally, employees should use a VPN to access company systems. Multi-factor authentication is also highly recommended for validating access to the VPN.
  4. Employees should only use company-provided devices for work purposes. They should also consider physical security of these devices and documents. When not using a device, make sure you lock the screen. Additionally, consider collecting work documents and moving them out of sight when not in use.

New Technology

  1. In the initial rush of moving to a remote work environment, many employees installed new applications or software in order to assist with completing their jobs. Organizations are now faced with the question of whether these applications have all been properly vetted by the IT department. It is critical to make sure that IT reviews security controls and configurations for any tools that employees continue to use.
  2. Organizations should also ensure that employees have received adequate training on new technology. Security settings are not always intuitive and employees should be trained on how to prevent introducing security risks to the nonprofit.
  3. Were new controls adopted to address operational changes? If so, management needs to ensure that documentation has been updated accordingly so the nonprofit remains in compliance with any regulatory requirements.

Although your organization may be operating partially or fully remotely, it’s important to remember that the same data security processes and policies should be in effect as if you were working normally from the office. Cybercriminals look to exploit any weakness, so nonprofits must remain vigilant no matter the work environment. Following the guidelines above will help to ensure the security of one of your most important assets – your data.

Nonprofit 411: How to Budget During a Pandemic

Nonprofit 411 NPCM-minBy Brian Kindorf, Managing Director at Non Profit Capital Management

Did any non-profit accurately predict what was going to happen in 2020? I suspect none did, so how will predicting 2021 be any easier? Most non-profits use the static budgeting method. This type of budget is often developed by management, voted on by the board of directors, and locked in place for the next twelve months. But how can management and a board predict what’s going to happen twelve months into the future of a pandemic?

The key to success in budgeting during any period of intense change- like an unprecedented global pandemic- is to embrace the uncertainty with a more dynamic budgeting process.

There is no rule that a budget must stay the same all year. In a dynamic budgeting process, the changing environment is constantly monitored and a new forecast is produced as information becomes available. It need not be a twelve-month budget or even conform to the non-profit’s fiscal year.

Rather than presenting the Board of Directors with a set of final numbers, management might consider presenting a set of inputs that are influenced by the pandemic. These might be the number of clients served, the number of volunteers recruited, the number of visitors, etc. Based on how those inputs move up or down, corresponding revenues and expenses move with them. Create different scenarios if you find your inputs are highly sensitive to the pandemic. Those might involve the ability for people to travel, or the opening of school, or the opening of other businesses around you.

The ability to run events and attract new donors is harder than ever, but many creative non-profits are finding ways to engage with their supporters in smaller, more intimate settings, or online. Evaluate your organization’s traditional supporters to see how they might be impacted by the pandemic. Are they business people in the finance sector? If so, they might be doing very well. Are they local business owners forced to closed? If so, they may not be able to sponsor the organization this year. Thinking through what pandemic inputs will impact your largest supporters will be critical to forecasting charitable revenue.

Sold on the concept of a dynamic budget? Start with the following steps:

  1. Break your expenses & revenues between fixed and variable. Fixed items are those that are not influenced by the pandemic. While most revenues and expenses have some degree of variability, this group is the line items with the least variability.
  2. Go through each of the variable lines and identify the input that influences them.
  3. For inputs that are highly influenced by the pandemic, create several scenarios that go out as far as your timeline.
  4. Each reporting period update those inputs based on your new information.

There is no “silver-bullet” to budgeting during a pandemic, but updating your forecast and not focusing on a static budget will allow your organization to better understand its own risks and opportunities.