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End of Year Compliance for Nonprofits 2016
Posted on December 7, 2016 by Harbor Compliance in Nonprofit Compliance.
‘Tis the season of gratitude and celebration. The turkey has been gobbled and the eggnog is aging. There are successes to toast and resolutions to compose. But before you join those nestled children with sugar plums dancing in their heads, consider this….
A compliant new year is a happy new year!
Your year is busy, your calendar filled with mission-vital commitments that demand your time and attention. End of year compliance may be tempting to push off until a slower day, but let’s face it – that day continues to elude us all. A quick checklist is always a great way to remind yourself of those key tasks that need to be completed. Imagine what becomes possible for you and your organization when you treat them as opportunities to strengthen the great work that you do. With the joy of the season, make sure that your compliance, for both the current and upcoming year, are getting the attention they need.
At a high level, here are two areas of focus:
- Close out the current year. Follow the checklist to ensure your current government registrations are maintained and up-to-date. Make sure your annual meeting minutes are in order, the budget is approved and bylaws up-to-date, the 990 and audit are underway, annual reports are filed, and states licenses are renewed.
- Plan for the upcoming year. Take a look at expansion and growth. Will you be fundraising in new states, expanding your mission, or hiring new employees? Situations like these may trigger additional compliance requirements, so make sure to plan ahead.
This year, if you’ve been more nice than naughty, maybe you can treat yourself to some compliance support!
Back office functions are just as mission critical as your programs and services and can become costly when reports aren’t filed or deadlines are missed. Create the space to focus your time and resources on relationship building and communicating your vision by investing in professionals with compliance expertise. Then wrap that vision in the compliance that supports you in scaling up the good work that you’ve already done and all the good work that is yet to come.
