Nobody likes dealing with compliance requirements. If you’re like many non-profit organizations, compliance often feels like an impediment to your mission — a bunch of red tape that third parties have placed in your way, which only pulls you away from the real work of your organization.
The pandemic has presented brand new challenges to nonprofit organizations that they’ve never had to face before. As a result, nonprofits are becoming more agile and better equipped to adapt quickly to changing conditions. The nonprofit landscape has shifted dramatically, and we’re now beginning to see what the future will look like for nonprofits in the new normal.
During the pandemic, millions of Americans were given much-needed assistance through the federal stimulus programs. As many of those programs start winding down, non-profit organizations are becoming more vital for those who still need support.
Yet, non-profits themselves are looking for extra financial support. Giving from private donors has declined over the past 18 months, and organizations are relying more and more on grants and federal funding.
For some nonprofit organizations, the coronavirus pandemic spurred unprecedented giving. For other organizations, funding has all but dried up. In either case, nonprofits are faced with new challenges that they’ve never experienced before, and many are looking for tools to help them adapt more effectively.
Nearly 95 percent of nonprofit organizations globally have been negatively impacted by the coronavirus. Funding dropped significantly in the first weeks of the pandemic, placing many nonprofits in crisis mode. While funding has increased since then, the organizations benefiting from it the most are involved in pandemic response.
Have you ever attempted to walk on a balance beam while holding a bucket of water in each hand? Many grant managers and CFOs try to do that with payroll every day.
They’re walking the balance beam of funder or grantor compliance, while trying not to task their frontline employees with overly detailed time capture requirements. They’re attempting to balance process, technology and reporting requirements. After all, no one wants to divert employees’ efforts away from the mission or services.
More than one-third of non-profit organizations are audited multiple times per year. Many of them can spend up to a month preparing for each audit. These organizations spend a lot of time, energy, and money dealing with the fear of audits, because an audit that goes south can mean lost funding, lawsuits, and even the future of the organization.
Companies everywhere, in every industry, are frustrated by payroll. Some of the frustration is self inflicted, with legacy policies or other requirements outside of what a commercially available payroll is able to handle.
Three years ago, employers were in panic mode as President Obama's new Overtime Rule was about to go into effect. The threshold for overtime was being raised, and millions of salaried employees were about to become overtime-elibible. The impact on many businesses would have been seismic.
