 There was a moment as a college kid when I realized I had no money in my checking account, and I owed $300 on my Mastercard. That might not seem like a lot to anyone nowadays when you can spend that much in a weekend at restaurants and bars, but to a college kid with a part-time job back in the 90’s, it was a lot of money. My stomach and my head hurt every time I looked at the bill on my dresser. And I wasn’t Read More
Ten Essential Ingredients for a Powerful Form 990
At our last Social Impact Advisory Group round-table discussion held at Thrive Alliance, Karen Hahn of Karen A. Hahn CPA shared her perspective on why the IRS Form 990 matters many to nonprofit stakeholders so nonprofits should take heed. To emphasize that fact, Fairlight Advisors asked Karen to guest blog her Top Ten essentials to completing a powerful Form 990. -------------- Here is a fun fact, the Internal Read More
Won the Lottery? Don’t Do This.
Your adult son is asking you for money again. He wants $100,000 to open a second restaurant to expand into a new market. You’re inclined to gift him the money since his first restaurant has been a great success. But here’s the thing: he’s sitting on $44 million after winning the lottery a few years ago. He invested the proceeds prudently so that the performance gains alone have amounted to almost $3 million a Read More
VIDEO: 3 Reasons You Should Care About Purchasing Power
Like What You've Seen? Sign up with your email address to receive news and updates. We respect your privacy. Talk to the financial experts at Fairlight Advisors to learn more about managing your nonprofit’s investments. Schedule a free consultation today! Talk to the financial experts at Fairlight Advisors to learn more about managing your nonprofit’s investments. Schedule a free consultation today! Talk to Read More
Can You Afford the Zombie Apocalypse?
Debbie, a successful businesswoman, informs her new boyfriend that she keeps a duffel bag with eighty thousand dollars in cash hidden in her closet for an unexpected need. “Might come in handy for the zombie apocalypse,” she adds. This scene from a gripping crime drama I watched the other night made me of think of purchasing power. Let’s set aside the wisdom of leaving cash in a duffel bag and then telling a guy you Read More
Top Nonprofit CFO Shares Her Secrets for Financial Success
I met Sally Petersen about a year ago to discuss our common interest in nonprofit risk management. She brought great insight to the discussion, leveraging her obvious, deep experience in accounting and finance. I only learned later I was talking to powerhouse in the nonprofit financial management sector. During her 12 year tenure as CFO for Second Harvest Food Bank of Silicon Valley, she helped the organization Read More
Running on Empty: Nonprofit Doesn’t Mean No Profit
“It's a nonprofit...so I assume it’s not supposed to have profits." Direct quote from a nonprofit board Chair. The term “nonprofit” was never supposed to mean an organization that is managed in the red. It simply means that surplus income pays to further the organization’s mission and is not distributed to shareholders or members. The idea that nonprofits need not strive for positive revenue hurts the sustainability Read More
