The Charity CFO

MARCH 6, 2024

On today’s episode of A Modern Nonprofit Podcast , our special guest is the one and only Tosha Anderson, our very own founder and CEO. The conversation today has a very simple focus, 5 red flags that your nonprofit accounting needs improvement, even when it may not be recognized. Get the free guide!

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The Charity CFO

MAY 31, 2022

It’s a myth that all stakeholders need to be experts in every aspect of nonprofit finances. Even on nonprofit financial committees, some members may be skilled in accounting, others in banking, and others in investing or financial analysis. Because the basics of nonprofit finances are easy to grasp. .

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NonProfit PRO

MAY 23, 2023

Evaluating accounting software? Download this buyer’s guide for important core functionality and features to look for to manage finances effectively, how to navigate the process, frequently asked questions, and ways to ensure your team gets the most out of the software long-term. This guide has you covered.

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Get Fully Funded

JUNE 5, 2023

When set up right, your nonprofit accounting system will help you manage your nonprofit and streamline processes like budgeting, projecting cash flow, and even hiring. The problem is that if you’re like most, you haven’t paid a lot of attention to your accounting system. I promise you will.

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The Charity CFO

NOVEMBER 10, 2022

What should you look for when evaluating nonprofit accounting services? Nonprofit organizations exist to further a mission or goal. Whether you are an educational, charitable, religious, sports, or other public-benefit organization, you need to have a good handle on your finances in order to make the most impact.

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Get Fully Funded

OCTOBER 26, 2022

Getting your programs off the ground, ensuring legal compliance, recruiting staff and volunteers, and correctly managing your nonprofit’s finances can be daunting. This checklist is a great starting point, and don’t be afraid to reach out to an expert like a nonprofit accountant for help or answers to any questions that arise.

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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. Ready to dive deep into this exciting realm?

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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.

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The Charity CFO

MARCH 23, 2023

Nonprofit accounting financial statements may seem like a chore. Nonprofits use financial statements to comply with IRS regulations, build trust with donors, and plan for the future. You may think that nonprofit financial statements are the same as those at for-profit companies, but this is not the case.

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Nonprofit Megaphone

JUNE 23, 2022

Your nonprofit does what you need to do to keep the core of your finances compliant. But this is often not enough for nonprofit organizations to get the most from their finances. In this guide, we’ll cover the core elements of healthy nonprofit financial management. Are you even sure your Form 990 is correct?

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The Charity CFO

APRIL 18, 2024

For instance, working with a nonprofit accountant, like The Charity CFO, can help you reduce your risk of financial non-compliance. Nonprofit Technology Integration and Data Security One of the best things you can do for your nonprofit is to start leveraging data. Need Help Facing Nonprofit Accounting Challenges?

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The Charity CFO

MARCH 29, 2024

Do you know the financial health of your nonprofit organization? Knowing where your finances stand is essential to effective nonprofit management. One of the best ways to get a quick read on your organization’s financial health is to compare your nonprofit budget to actual performance. Get the free guide!

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Bloomerang

FEBRUARY 16, 2024

Effective nonprofit financial management helps you maximize the value of the donations you receive and fulfill the vision of your nonprofit. 8 strategies for effective nonprofit financial management There’s more to managing your charity or nonprofit’s finances than collecting donations, although that is a critical part.

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Top Nonprofits

FEBRUARY 13, 2024

Nonprofit Accountant According to Jitasa , a nonprofit accountant is a professional who helps your organization “ensure financial health and stability, analyze financial data, and make decisions based on the nonprofit’s unique financial position.” Let’s get started!

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The Charity CFO

JANUARY 12, 2024

Financial forecasting is a term you’ll hear thrown around in the business world quite often—but in the world of nonprofits, it can be difficult (and even downright impossible) to plan your organization’s finances with any degree of certainty. What Is a Financial Forecast for Nonprofits? Get the free guide!

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Top Nonprofits

FEBRUARY 23, 2024

Despite their tax-exempt status, nonprofits must still follow certain tax requirements when managing staff payroll, such as filing Form 990. According to Double the Donation’s nonprofit accounting guide , nonprofits must also issue Form 1099 to contract workers who are paid at least $600 for their services.

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The Charity CFO

JULY 28, 2022

We’ll tell you all you need to know about complying with these new rules when accounting for leases of all types. What is ASC 842 for nonprofit lease accounting? All nonprofit accounting rules in the United States are defined and codified by the Financial Accounting Standards Board, or “FASB”.

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The Charity CFO

SEPTEMBER 28, 2022

Top Nonprofit Bookkeeping Tips. Use A Simple Accounting Software . What’s our #1 nonprofit bookkeeping tip? If you are still using Excel spreadsheets or handwritten ledgers to track your finances, you need to stop asap. Instead, use simple accounting software like Quickbooks Online. . Hire a Payroll Service

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The Charity CFO

MARCH 16, 2022

Today we’re proud to announce another amazing addition to the industry’s best nonprofit accounting team! Theresa Guest is joining The Charity CFO team in the role of Accounting Manager.

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The Charity CFO

OCTOBER 9, 2023

Let’s take a closer look at nonprofit accounting systems, the most frequent mistakes, and how to avoid trouble down the road. Those responsible for creating accounting systems might not be aware of industry best practices or make small but significant mistakes that can go unnoticed for months or years. Get the free guide!

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The Charity CFO

FEBRUARY 27, 2024

Budgets are Essential for Nonprofit Organizations While they can be overwhelming to create, having a budget is a necessity for any organization. Think of your nonprofit budget as the financial roadmap for your organization. Working with a nonprofit accountant like The Charity CFO takes the challenge off of your plate.

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The Charity CFO

NOVEMBER 30, 2023

During the audit, you’ll generally be asked to show: Receipts for purchases Invoices and revenue records Donation records Payroll and other recurring expense reports Supporting documents related to finances With all of the records required, it can be easy to make a mistake. If you’re not an accountant, this process can get confusing–fast.

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Top Nonprofits

JUNE 29, 2023

However, it might lead you to wonder whether your nonprofit is also exempt from audits. Although the answer to that question is no , nonprofit audits tend to work differently from audits of businesses’ or individuals’ finances, which are usually conducted by the IRS. What are the benefits of auditing?

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NonProfit Leadership Alliance

JULY 26, 2023

In this guide, we’ll review expert tips for overcoming the top three nonprofit compliance challenges: Complying with governance guidelines Following fundraising requirements Reporting finances accurately Accuracy and thoroughness are key to maintaining compliance so your nonprofit can continue its important work.

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The Charity CFO

FEBRUARY 27, 2023

First things first: Treasurers aren’t accountants. A position to oversee finances may sound a lot like an accountant, but there are important distinctions between the two. Many nonprofits do not have in-house accountants and choose to outsource instead. What are the qualifications for nonprofit treasurer duties?

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The Charity CFO

APRIL 19, 2022

In our experience, nonprofits with little in reserve and/or low cash balances tend to have financial management challenges, often including: Poor collection of accounts or pledges receivable. Over-reliance on high-interest short–term financing . Have Nonprofit Financial Red Flags? Risk of defaulting on loans .

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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. . I signed on to further a cause, not to be the accountant!

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The Charity CFO

OCTOBER 12, 2022

And one of the key differences is that nonprofits talk about net assets rather than net income or equity. It’s mostly a difference in terminology in nonprofit accounting vs. for-profit accounting. But it’s not a term that most non-accountants are familiar with, and there are a few differences in how it’s reported.

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The Charity CFO

MAY 11, 2023

Using the scalability mentioned above, outsourced accounting services typically have access to these softwares to ensure that your accounting, reporting and filing is done accurately and efficiently. Not having up to the minute transparency into your finances can be daunting. There is no one size fits all solution.

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The Charity CFO

MARCH 27, 2024

QuickBooks is a popular accounting software used by businesses and individuals nationwide. As a nonprofit leader, you’ve probably heard of QuickBooks or may have even used it before. And you might be wondering if you can use QuickBooks for your nonprofit accounting. Searching for a Nonprofit Accounting System?

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The Charity CFO

JUNE 19, 2023

The second is the financial advisor role that we will refer to, which takes on more of an accounting services perspective. At the most basic level, they can help ensure your organization’s finances are in order and help resolve issues involving financial reports and compliance. Get the free guide!

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The Charity CFO

JANUARY 5, 2023

Many nonprofit organizations tend to let their financial management slip on the backburner as they get busy fulfilling their mission. Sure, your mission should be a priority, but managing finances can’t be neglected either. Without a good grasp of your finances, your nonprofit risks: Exposure to fraud.

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The Charity CFO

DECEMBER 27, 2023

Seek Professional Guidance for More on the Tax Implications of Nonprofits Owning For-Profit Businesses Few parts of nonprofit accounting are as complicated as a nonprofit owning a for-profit business. Nonprofit leaders like you don’t have to navigate tricky tax implications on your own. Get the free guide!

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The Charity CFO

JANUARY 18, 2022

Zack joins us after two decades as a not-for-profit accountant in both public accounting and the nonprofit industry. In this new role, he will serve as one of our in-house experts on existing and emerging nonprofit accounting standards and auditing best practices.

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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? It’s a necessity.

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Top Nonprofits

FEBRUARY 24, 2023

This application is the gateway to generating revenue for your organization, but it’s important to remember that a lot more goes into managing your nonprofit’s finances than simply getting permission to raise money. Establish internal controls to protect your nonprofit’s finances and ensure the responsible use of donations.

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Candid

JULY 26, 2022

Keep the following suggestions in mind to create a strong financial foundation for your nonprofit: Plan a robust fundraising calendar that incorporates both online and offline strategies. Work with a nonprofit accountant to create an ironclad budget and stick to it. Go above and beyond with transparency when discussing overhead.

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