Let’s say your a for profit company and every year at budget time you start out with little or no money in the bank from the previous year. Plus you don’t have any long term savings either i.e. endowment revenue.
You know you’re offering a great product but there seems to be constant push back on the amount you can charge: i.e. fees from services. However, business seems to have been good because there are always people saying they need your help!
You’re trying to be innovative but again it just seems to be more difficult to get those valuable contracts every year you need to survive: i.e. government and foundation grants.
Furthermore you’re trying desperately to please your stockholders: i.e. your donors because you know your job hinges on them being happy.
Regardless it seem impossible for you to be able continue to do all that is required with such a small and poorly trained staff offering such low pay and few benefits.
But you are trying to manage! So, how did you do? Do you think you have what it takes to run a nonprofit corporation?
DISCLAIMER: This information is not intended to provide legal or accounting advice, or to address specific situations. Please consult with your legal or tax advisor to supplement and verify what you learn here.