The strain of inadequate, insecure funding is exhausting and often sends nonprofits tilting at every windmill that might throw out a grant dollar. Every organization has its own pressure points and problems, but there are some commonalities throughout the sector.
When confronting pressing community problems, the program planning of nonprofits is understandably motivated by their passion to set things right. The enthusiasm to make things better is a primary, driving force you’ve got to appreciate and nurture, but you’ve also got to temper that passion with a solid understanding of how to plan programs so they will really make a difference.
With a rock-star proposal writer on staff, why spend precious dollars priming the pump? The grant awards are rolling in and all is right with the world. But getting too comfortable with the successful status quo is risky.
Beginning in 2015, organizations that expend more than $750,000 in federal funding in any fiscal year will be required to retain an independent auditor to perform a Single Audit. Previously, $500,000 in federal expenditures triggered the Single Audit requirement. While the new threshold is a bit higher, federal funds in the form of grants, pass-through dollars, contracts, and loans add up quickly so be sure you’re ready. This brief primer explains how to select a qualified auditor and provides a simple check-list to guide your selection process.
