Every day there are headlines regarding the impact of COVID-19 on our society, which are also creating multiple new challenges to the nonprofit community. As nonprofit organizations are typically formed to strengthen and enhance our communities, many nonprofits are now serving more people than ever. We expect this trend to continue. Foundations are scrambling to make funding available, FEMA funding has stepped up, and for the first time nonprofits are eligible for loan opportunities never before seen. As nonprofits work harder than ever to carry out their mission, they are also charged with new risk management issues that cannot be left unchecked. How do organizations prepare for an unstable funding environment? Are cash reserves strong enough to weather a downturn? Are employees being properly protected? How do you manage and track potential PPP loan forgiveness? Does the organization have the right technologies to manage in a remote work environment?
With so many questions hanging in the balance, UHY understands these challenges and can help you navigate these uncharted waters. Our Client Accounting Advisory Service group is ready to help you during these challenging times and as the future unfolds. Our accounting advisory team has been working remotely and understands the specific needs of nonprofit organizations. We have the technology to help you today, and prepare for the future.