By Nick Frigerio, Vice President and Manager, Planning Applications
Nonprofit organizations play a major role in the areas they serve, and it is important for them to be sustainable within their community. To remain healthy and functioning, nonprofits need the proper means to carry out their mission. Proper financial planning and management are vital to maintaining adequate resources.
The building blocks of strong financial management start with outlining the organization’s financial objectives.
Retirement plans for nonprofit and tax-exempt entities can often look very different than the retirement programs used by corporate employers, such as 401(k) plans. This can result in some unique challenges for both the plan sponsor and participants of this particular segment of nonprofits. This is particularly evident with 403(b) plans – also known as Tax Sheltered Annuities – which are a popular plan design for educational entities such as private K-12 schools,
For the initial blog of our series this month on nonprofit entities, we’ll look at the Healthcare marketplace. Healthcare groups have encountered some turbulent times recently, with particular challenges related to healthcare regulatory changes and staffing shortages. Yet, the healthcare market – which includes groups such as hospitals, medical centers, nursing homes, hospices and clinics – continues to experience overall growth and healthcare groups continue to explore effective ways to find and keep qualified staff.