The Charity CFO

JANUARY 12, 2024

If you dream of devoting more time to a cause you believe in and taking it to the next level, you might ponder starting a nonprofit. The prospect of serving your community is certainly a calling worth pursuing, and nonprofits serve an essential role in their clients’ lives. 5 Reasons Why You Shouldn’t Start a Nonprofit 1.

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Nonprofit governance and management Public and Nonprofit Management Law Governance 52

Top Nonprofits

AUGUST 22, 2022

Nonprofit accounting is unique when compared to for-profit accounting. This is primarily because nonprofits agree to reinvest all of their revenue back into the mission at hand in exchange for tax-exempt status. Internal controls are policies and decisions made to prevent the misappropriation of nonprofit funds.

Finance 52

Finance Nonprofit Finance Leadership Nonprofit Accountability 52

Nonprofit Marketing Insights by GlobalOwls

DECEMBER 12, 2023

Retirement Planning for Nonprofit Employees Are you a nonprofit employee worried about your retirement? Do you feel like you don’t have enough resources or information to properly plan for your future? These plans are well-suited for larger nonprofits with a sizable employee base.

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The Charity CFO

OCTOBER 23, 2023

Keeping your taxes in order is vital for any nonprofit. Unfortunately, it can get complicated and confusing when it comes to employees, especially if you’re hiring both traditional staff and regular contractors or freelancers. Let’s take a closer look at the document and why it’s so important for nonprofits.

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Finance Nonprofits 52

The Charity CFO

APRIL 19, 2022

As a CPA working exclusively with nonprofits and a former nonprofit auditor, I’ve looked at thousands of nonprofit financial statements over the past 10 years. Over the years, I’ve identified a set of 5 nonprofit financial red flags that are fairly common and almost always lead to trouble sooner or later.

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The Charity CFO

SEPTEMBER 22, 2022

Nonprofits exist to meet a societal need or provide a public benefit. Unlike an organization whose primary goal is to make money, nonprofits exist to meet a community’s needs. That said, while it’s not your primary purpose, your nonprofit must find ways to make money. . How do nonprofits make money?

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The Charity CFO

DECEMBER 22, 2022

Is your nonprofit using 1099 best practices? Nonprofits rely on the generosity of donors and volunteers to support their mission and achieve their goals. But, just like for-profit businesses, nonprofit organizations must also navigate complex tax laws and regulations to remain compliant. This is where form 1099 comes in.

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The Charity CFO

NOVEMBER 3, 2022

Likely to the dismay of many nonprofit leaders, nonprofit organizations must practically live and breathe bureaucracy to maintain their tax-exempt status and ensure the continuation of their mission. What is the Form W-9 for Nonprofits? Reasons Your Nonprofit Might Need to Fill the Form W-9. The type of entity.

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MNA Association

APRIL 6, 2023

When you started your 501(c)(3) nonprofit , one of the main benefits your organization received was an exemption from paying federal taxes. Depending on your location, the exemption may also apply to state taxes. Form 990 Filing The IRS Form 990 is the most important tax form your nonprofit files annually.

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The Charity CFO

SEPTEMBER 2, 2022

Not surprisingly, this above-average employee turnover impacted nearly every industry, but it has hit nonprofits and financial professionals particularly hard. . However, nonprofit accountant turnover is not a new problem in the sector. Why Do Nonprofit Accountants Quit? Why Do Nonprofit Accountants Quit?

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The Charity CFO

APRIL 1, 2024

Implementing technology into your nonprofit accounting process can help solve a variety of issues—from tracking receipts to properly recording donations. In most cases, technology helps improve the efficiency and accuracy of nonprofit accounting. Nonprofits are subject to a lot of legal and financial scrutiny.

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The Charity CFO

MARCH 3, 2022

Nonprofits are not run to make money. But they do make serious progress. million nonprofits are registered with the IRS. One-quarter of American adults volunteer with a nonprofit, helping their community on a number of issues. You will make a difference as soon as you start a nonprofit. More than 1.5

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Bloomerang

JANUARY 22, 2024

Do you have an idea for an organization that will bring good to the world and serve a charitable purpose? You might be inspired to bring your idea to life by starting a nonprofit. million registered nonprofits in the United States, making these charitable organizations a staple of modern society. There are over 1.8 In the U.S.,

Public and Social Policy 80

Public and Social Policy Nonprofit governance and management Public and Nonprofit Management Charitable Organizations 80

Nonprofit Marketing Insights by GlobalOwls

APRIL 27, 2023

How Payroll Outsourcing Changed My Entrepreneur Life An individual can only do limited things, and it’s even worse when you’re running your business alone. As an entrepreneur , managing the finances and operations of a business can be daunting. This can result in costly penalties and fines if not done correctly.

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The Charity CFO

DECEMBER 27, 2023

Employee benefits packages play a big role in attracting and retaining top talent. According to Forbes, 10% of workers say they’d take a pay cut to get access to better benefits. As a small nonprofit, it can be difficult to determine what benefits mean the most to your employees, especially if you’re working within a strict budget.

Insurance 52

Insurance Health Public and Nonprofit Management Participation and motivation 52

Bloomerang

NOVEMBER 11, 2022

Today’s question come from a nonprofit employee who want advice on how to budget and pay for capital campaign fundraising expenses: . Now our accountant insists we cannot pay for the consultant, or any fundraising expenses, with donations meant for a capital campaign. We hired a Campaign Consultant.

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The Charity CFO

NOVEMBER 30, 2023

Most nonprofit leaders aren’t accountants and the thought of getting audited is a sizable fear. Luckily, being prepared can help you avoid accounting mistakes that could come up in a nonprofit audit. This guide will help you better understand the common mistakes nonprofits make in their accounting systems.

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NonProfit Quarterly

SEPTEMBER 13, 2023

Image credit: Yuet Lam-Tsang Editors’ note: This article is from Nonprofit Quarterly Magazine ’s summer 2023 issue, “Movement Economies: Making Our Vision a Collective Reality.” 1 During this time, nonprofit organizations like Inclusive Action for the City, which I cofounded in 2008, had to do our own soul-searching.

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The Charity CFO

AUGUST 15, 2023

The nonprofit sector is full of rewarding and impactful careers because it plays a crucial role in addressing various social, environmental, and humanitarian challenges. In this section, we will debunk the three most common nonprofit accounting myths. However, most of it is actually the same. However, most of it is actually the same.

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The Charity CFO

DECEMBER 15, 2023

While the nature of a nonprofit means you’re focusing more on your mission than making money, bringing in revenue is still essential. Accurate revenue recognition, classification, and records are some of the most important aspects of nonprofit accounting. That depends on your organization’s size and complexity.

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The Charity CFO

MAY 11, 2023

Bookkeeping is a critical component of running a successful nonprofit organization. However, managing bookkeeping in-house can be time-consuming and expensive, which is why many nonprofits are turning to outsourced bookkeeping services. As a leader, you’ll have to determine what is right for your nonprofit.

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Bloomerang

AUGUST 4, 2023

Today’s question comes from a nonprofit employee who wants advice on how to accept a real estate gift for the first time: Dear Charity Clairity, We have a board member who wants to donate a gift of real estate. The amount you pay will still be much less than the amount you’ll receive. My boss wants me to “make it happen.”

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Law Insurance Environmental Finance 79

The Charity CFO

OCTOBER 16, 2023

It may not seem like a significant aspect of your organization’s financial situation, but picking the right nonprofit banking partner is one of the most vital decisions leaders can make. Use your network throughout the nonprofit community to get some firsthand thoughts on various banks.

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The Charity CFO

OCTOBER 4, 2022

million nonprofits globally. To ensure that a nonprofit runs efficiently, several people work behind the scenes to make things much easier, and one of those people is the operations manager. The operations manager might be the secret weapon of the most successful nonprofits we know. What does an operations manager do?

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Management Nonprofit Administration and Development Informational Technology Technology 98

Candid

NOVEMBER 16, 2021

As a nonprofit management student, preparing to enter this field can be challenging because it’s still developing. The University of San Francisco was the first school to offer a Master’s in Nonprofit Administration less than 40 years ago, and the first School of Philanthropy was created just nine years ago at Indiana University.

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Bloomerang

NOVEMBER 16, 2022

Starting a nonprofit is pretty straightforward, but preventing your dream from ending shortly after it begins is a lot harder. For new nonprofits, learning lessons the hard way is a luxury they can ill afford. Here’s a rundown of twelve areas new nonprofits need to focus on. . Recognize that you’re a small business.

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NonProfit Hub

JUNE 29, 2021

This blog will be a great place to start, but if you find yourself praying no one asks you questions about the financials in your next board meeting, you may want to check out our Nonprofit Accounting Essentials course in partnership with The Charity CFO. . You’ll learn quickly that “nonprofit” doesn’t mean “no profit.”

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Kivi's Nonprofit Communications Blog

JULY 28, 2015

As much as we wish our nonprofits would be looked at for impact as opposed to overhead, how much nonprofits spend (or lose) is a story the media love to tell. In this month’s post Peter Panepento tells you how to be prepared when your nonprofit’s salaries make the news. Explain what you do. Peter Panepento.

Public and Nonprofit Management 87

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iMarketSmart

SEPTEMBER 12, 2022

Suppose the person sitting next to you on a plane asks, “What do you do?” What do you do?” What do you do?” But you also know the likely reaction when you tell people what you do. What do you do?” Another fundraiser writes, “When responding to the question ‘So what do you do?’

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NonProfit Hub

MARCH 30, 2018

This article was originally published in Nonprofit Hub Magazine. Here’s the biggest truth bomb that nobody is exclusively talking about when it comes to nonprofit finances: there’s no way for us to tell you exactly how your nonprofit’s budget should be spent. Your finances aren’t exactly a secret. Your staff.

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Finance Nonprofits Nonprofit Finance Marketing 52

NonProfit Hub

SEPTEMBER 21, 2015

Yes, the name of this site is Nonprofit Hub, but not all good in the world is done by nonprofits. Occasionally, the nonprofit business model is not the right setup for your organization. Other times the nonprofit model just isn’t the right fit. Organizations are not limited to just nonprofit or benefit corporation status.

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Taxation Nonprofits Environmental Finance 55

The Agitator

JUNE 14, 2012

But, this Friday we urge you to do some weekend thinking and worrying. How do you know if you’re not meeting the donor-centric test? There are many signs, but certainly the clearest is when a subpoena announcing a Congressional investigation of your nonprofit arrives on your CEO’s desk. In response to CNN’s revelations the U.S.

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The Kindful Blog

OCTOBER 6, 2023

If the problem you are trying to solve or the need you are addressing isn’t a quick fix but instead long range, ongoing and/or escalating, you might consider forming your own nonprofit. In this post, we’ll review frequently asked questions about starting a nonprofit and nine key steps to get your own organization up and running.

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NonProfit Quarterly

MAY 2, 2023

This article is, with publisher permission, adapted from a more extensive journal article, “ A Tax Credit Proposal for Profit Moderation and Social Mission Maximization in Long-Term Residential Care Businesses ” published last year by Nonprofit Policy Forum. These statistics hold true across time and national boundaries (Brennan et al.

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The Charity CFO

JANUARY 17, 2022

If you’re like most nonprofit leaders, you’re not researching nonprofit accounting basics to satisfy your curiosity. You need to get a better grasp of your organization’s finances now. with this overview of nonprofit accounting basics. . What is nonprofit accounting? Examples of nonprofit assets: Cash.

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The Charity CFO

MAY 2, 2022

Unlike your personal tax return, anyone can request a copy of your Form 990 from the IRS or search for your filing several online databases. W atchdog organizations, large donors, and grantmakers regularly use your 990 to uncover a nonprofit’s financial health in just a few seconds. How do you spend your money?

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The Charity CFO

FEBRUARY 2, 2022

Every tax exempt nonprofit must file IRS Form 990 (Return of Organization Exempt from Income Tax) every year. That’s right, your nonprofit needs to file an IRS return. Your tax-exempt status has benefits, but it doesn’t exempt you from oversight. Why do nonprofits need to file Form 990?

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