Smart noNprofits know that donor giving is often reflective of the health of the financial markets.As a result of the current economic malaise, many organizations have honed their strategies in the event of economic rumbles by taking more effective measures to protect themselves, according to Greg Allender, managing director and business unit president at CBiz Accounting, Tax and Advisory Services in Bethesda, Md.
"A lot of the audit and finance committees [at nonprofits] are really putting their foot down and saying, 'We need to take a more conservative approach,'" said Allender, who oversees his firm's not-for-profit practice in the Washington, D.C., metro area. "Ten years ago, several of the audit and finance committees weren't doing as good of a job as they are today with their endowment fund management and overall operational budgeting. I think they're doing a much better job."
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