If you have a fiscal year that begins in July, this is your budgeting season. And it likely means you are putting the finishing touches on how you think the future will unfold for the next year. (For those of you with a January or October fiscal year, your season has passed, and you are well on your way to living your budget.) I admit that numbers were not my thing when I started in this work, but I quickly learned to be a champion of the budget when I figured out that while it is certainly made of numbers, budgets are far more than that. Budgets tell a story of your organization. They tell you and your team about your vision for growth and your fears and insecurities about… Read more »

Strong financial systems help nonprofits stay focused on their mission. As our finance team continues to grow, we’re able to support additional organizations with finance projects and trusted nonprofit financial expertise. Whether your organization needs assistance preparing for an audit, strengthening financial processes, or completing a specific finance project, our team is here to help. We can provide assistance with: • Audit preparation and audit support • Budget development and facilitation • Financial health assessments • Senior-level financial consulting • Accounting process review and cleanup projects • Financial systems and reporting support These services are designed to provide targeted, short-term assistance to help organizations address immediate financial needs, strengthen systems, and build long-term financial sustainability. Fill out our inquiry form to share your organization’s finance needs and learn how we can help…. Read more »

The U.S. Department of Labor issued a final rule to increase the minimum salary threshold for the “white collar” overtime exemption under the Fair Labor Standards Act (FLSA) from its current rate of $35,568 to $43,888 per year starting on July 1, 2024 and increasing to $58,656 per year starting on January 1, 2025. To be exempt from overtime pay under this provision, workers must be paid a salary of at least $58,656 and must also meet certain job duties for executive, administrative, and professional employees. Workers with a salary below this threshold must be paid overtime if they work more than 40 hours a week. Currently, the State of Alaska requires salaried employees who are exempt from the minimum wage and overtime requirements under Alaska Statute 23.10.055(b) to maintain a salary that is equivalent to two… Read more »

So many choices. So many great ideas. So much wishful thinking. We all have been in these meetings. It’s a real struggle to sort through all you are hearing and doing to get to the things that matter the most. Add the need to generate revenue, and the pressure can be overwhelming on a good day. So how do you choose which activity to run with? How can you be sure that whatever you choose will get you closer to not just more money, but more mission? Having a clear sense of your business model is certainly an essential step. But once you know if your mission is going to be primarily powered by earned income or charitable income only gets you off the starting line. Now you have to… Read more »

To everything there is a season and, yes, there are budget seasons. We are in one now – for federal and state governments, and for your nonprofit. If you have a fiscal year that begins in July, you are very likely drafting a budget for the next year. (For those of you with a January or October fiscal year, your season has past, and you are well on your way to living your budget.) Budgets come in all sizes and all complexities. They can be simple and straightforward, as well as incredibly detailed and nuanced. They can be about millions of dollars or about thousands. All of our organizations benefit from this financial roadmap, and yet in Alaska we know from our recent survey work that too many organizations (19%)… Read more »