Wells, CPA LLC

Giving circles are an increasingly valuable funding source for nonprofits. These groups pool their charitable dollars and collectively decide which organizations to support. They often provide funding quickly and actively engage with the causes they choose. According to the most recent national research, nearly 4,000 U.S. giving groups mobilized more than $3.1 billion between 2017 and 2023, illustrating the movement’s funding power. Building relationships with giving circles can help nonprofits diversify funding and attract dedicated supporters and volunteers. Contact us to discuss giving circles and other strategies to help increase funding.

Many nonprofit boards include members with limited financial expertise. The challenge for management is presenting financial information that’s clear, relevant and actionable for everyone at the table. Adding visual elements and dashboard-style reporting to your presentations can help. So can using financial ratios to compare performance with past years or with other nonprofits. Also consider incorporating brief financial education moments into board meetings. These small, consistent efforts can help boost board financial literacy. Need help translating complex financial data into board-friendly insights? Contact us to discuss practical reporting strategies for your nonprofit.

Insurance is a critical part of a nonprofit’s overall risk-management strategy. Every organization should evaluate core coverage such as general liability, workers’ compensation and property insurance. You might consider additional protections, including auto insurance, cybersecurity coverage, and directors and officers (D&O) liability insurance. But because your budget is likely limited, prioritize your most significant risks and pair insurance with other risk-management practices — such as strong internal controls and ongoing employee training. The goal: Secure the right coverage for your specific risks without paying for unnecessary protection. Contact us to evaluate your insurance needs.

Many nonprofits experience financial challenges. Even organizations with healthy fundraising can face cash shortages if money isn’t arriving when it’s needed. Whatever your organization’s situation, better cash flow management can enhance your financial stability. Start by improving visibility into your organization’s financial health with cash flow statements and rolling forecasts. Then, build more predictable revenue by prioritizing recurring giving and monthly installment plans. Reduce cash outflows where possible by renegotiating vendor contracts. And strengthen long-term stability through diversified revenue streams. Contact us for help improving your nonprofit’s cash flow management.

Mission drift can gradually pull nonprofits away from their core purpose and create operational and fundraising challenges. A formal mission change may be necessary to maintain financial stability. First, review your programs and goals. If your mission has drifted, consider revising your mission statement. Then clearly communicate the change to stakeholders. If your nonprofit is considering an intentional mission shift — or is already experiencing unintended mission drift — professional guidance can help you evaluate the financial and tax implications before small changes become larger challenges. Contact us to discuss how to protect your organization’s long-term financial stability.

Alternative investments may offer nonprofits increased diversification and stronger return potential. But they also can introduce liquidity challenges, higher fees and unexpected tax exposure. Before investing in private equity, hedge funds or other alternative assets, your organization should carefully consider the financial and operational risks involved. Contact us to discuss whether this investment strategy aligns with your nonprofit’s goals and risk tolerance.

Nonprofits often face challenges that require specialized expertise, broader community representation or fundraising connections beyond what their governing boards provide. An advisory board can be an effective way to strengthen leadership capacity and support strategic initiatives by bringing in outside perspectives without expanding formal governance responsibilities. Although advisory boards may deliver meaningful value, they’re often temporary in nature and depend on a clearly defined mission and expectations. Contact us to discuss governance and financial strategies that can help your nonprofit thrive.

As personal budgets tighten and membership expectations evolve, retaining members has become challenging for many nonprofits. Strong renewal strategies focus on personalized engagement, flexible participation options and clear communication of member impact. Some organizations are also finding success with strategies that specifically address members’ budget concerns, such as installment payment options or tiered memberships. Limited-time incentives can also make renewals more manageable for members. Need help assessing the financial impact of your retention strategy? Let’s connect.

Nonprofits often outgrow sporadic, campaign-based fundraising that leads to unstable revenue. Transitioning to a consistent, strategic approach helps build momentum and strengthen donor relationships. Start by forming a fundraising committee, reviewing past efforts, and setting clear plans and budgets. Then regularly evaluate progress and adjust as needed. Contact us for help reviewing your current fundraising strategy and implementing targeted adjustments.

🚀 Join us Monday, August 17 at 3pm for a conversation on the future of AI and organizational success.

Artificial intelligence is transforming the way organizations operate—but AI alone isn't enough. Success requires secure technology, a strong strategic foundation, and thoughtful human leadership.

Join CCB Technology and Cardwell Communications for a free, practical event designed for nonprofits and businesses looking to prepare for an AI-driven future.

During this session, you'll learn about:

🔹 Building secure IT infrastructure and strengthening cybersecurity
🔹 Technology planning that supports long-term growth
🔹 AI readiness and intelligent workflows
🔹 Increasing organizational capacity through human-centered AI implementation

Whether you're just beginning to explore AI or looking to strengthen your organization's digital strategy, this event will provide practical insights you can put into action.

TENTATIVE destination depending on number of registrants: Carriage House at 65 Jefferson Avenue for Monday, August 17 at 3pm.

📅 Register today and join the conversation—we'd love to see you there!

https://bit.ly/4f4DItM

Meet CCB Technology: https://bit.ly/4fEQOhy
Meet Cardwell Communications: https://bit.ly/4wRRqX3