Written by Chidi Koldsweat

2020 End of the Year Checklist For Your Nonprofit

The end of 2020 is in sight and your nonprofit should focus on finishing year-end responsibilities.

Are you not quite sure what it entails? No problem. 

Read below the important year-end checklist to make sure you do not miss any important end-of-the-year details.

1. Get your finances in check: 

It is time to look at your inflow and outflow. Where did the bulk of your income generation come from and where did the bulk of your expenses go? What do you need to cut low on next year and where do you need to focus more attention on. Did you file your year-end annual returns? Have you paid your tax and that of your employee where necessary? Did you have a grant budget and what were the success rates?

2. Board Leadership: Should They Stay or Should They Go?

An organization is only as good as the leaders who head the mission. It’s time to evaluate the board of directors, Executive committee members, and any other team in 2020.  If you are unhappy with the performance of any of your board or team members then now is the time to voice your concerns. Keep in mind during evaluations that you must act in the best interest of your nonprofit and its mission. Also, if anybody is retiring or resigning, you should be in the process of looking for the right candidate for the position.

3. Make an Annual Report

If you did not create a mid-year report, well sorry! If you have not been thinking about an annual report, the time is now. We cannot overemphasize the importance of an annual report. You will need it for several opportunities along the line so do NOT overrate the importance.  One of the most important parts of your annual report is the description of your accomplishments. I really hope you kept a detailed list this year, as you will need it.

You will need to make a list of all your implemented successful programs, donors, and a section on where your revenue has come from and been spent. Use graphs to make your report look more organized and to break down the information for readers. Pictures, videos are also a great tool to tell better stories.

If you are a procrastinator, the process of compiling an annual report will be difficult. As you can see, the amount of information necessary for a report is substantial but I encourage you to start. Do not forget to mention future collaborations and partnerships your organization is looking to explore and who can be contacted to discuss these opportunities. An annual report is also a strong marketing tool. Just as an addition, it is important to also explore other formats that your annual report can be disseminated in and find what bests represent your brand.

4. Your Nonprofit Strategy for 2021:

Now is the BEST time to get started. Do not wait for 2021 to come up with a plan. Strategizing for the new year is the best way to hit the ground running without waiting. You are clear about who you need and what you must do to get on their radar. Schedule your nonprofit strategy session today.

If you are interested in a group high-level executive session for nonprofit founders and executives, send an email to chidi@donorsforafricafoundation.org and we will be in touch.

This slot is open for 20 nonprofit founders only.