• Navigating Nonprofit Success

  • Jan 30 2025
  • Length: 45 mins
  • Podcast

Navigating Nonprofit Success

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  • Summary

  • Understanding the realities of nonprofits is crucial for current and future leaders in the sector. In this episode, Spring Richardson Perry and Shawntinique Shepherd discuss key distinctions between non-profit and for-profit organizations. They tackle misconceptions about ownership and emphasize the importance of compliance and financial transparency.

    Key Takeaways:

    • Differences between nonprofits and for-profits in governance and purpose
    • Misbelief about ownership and the true nature of nonprofit profits
    • Importance of internal controls and financial compliance
    • New regulations introduced under Uniform Grants Guidance
    • Insights on indirect costs related to federal grants
    • Need for collaboration with existing nonprofits in the community
    • Challenges in obtaining funding and maintaining nonprofit viability
    • Overview of audit requirements and financial transparency for nonprofits
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