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Nonprofit Accounting Basics: 5 Fundamentals to Know

Get Fully Funded

Now that your new nonprofit is up and running, developing a solid foundation for financial management should be a top priority. The ins and outs of nonprofit accounting may seem overwhelming at first, but effectively recording and reporting your organization’s finances is essential to fund your mission.

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What is Financial Forecasting and Why Does it Matter to Nonprofits?

The Charity CFO

Using Financial Forecasts for Nonprofits There are many ways in which a financial forecast can be used by nonprofits and their leaders to make smarter and better-informed decisions for the long-term success of the organization. Interested in learning more about our nonprofit accounting services?

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Best Practices when Accounting for Grants

The Charity CFO

The IRS has strict regulations on how to handle grants and charitable contributions, so it is essential that you understand the best practices when accounting for them. Because accurate nonprofit accounting can help with reporting and auditing requirements, and ensure that the funds are being used in accordance with the grantor’s wishes.

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How to Manage Payroll for Your Staff: A Nonprofit Guide

Top Nonprofits

Track their activities, including: Hours worked Overtime, if applicable Rate of pay According to Foundation Group’s 501(c)(3) status revocation guide , keeping complete and accurate financial records is the best way to protect your organization against noncompliance issues—and this includes employee data!

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Opportunity! Nonprofit Communications Jobs

Getting Attention

Please post YOUR nonprofit marketing job here: Featuring jobs with nonprofit organizations, grantmakers, B Corps, and agencies and other vendors serving nonprofits. Account Coordinator, Digital Fenton Communications (Washington, DC). Associate Product Manager Wikimedia Foundation (San Francisco, CA). Tacoma, WA).

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When Does Your Nonprofit Need an Audit?

The Charity CFO

Instead, an independent nonprofit audit is something you choose to build trust in your nonprofit organization. In fact, the IRS doesn’t require nonprofits to be audited, but other federal and state agencies do in some circumstances. ” Bottom line? First, this isn’t the same as an IRS audit–it’s not an “I’m being audited!”

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Nonprofit Finances: A Quick Guide for Nonprofit Growth

Nonprofit Megaphone

Considering these budgets separately takes into account some of the intricacies of nonprofit accounting like restricted funds. For example, you might receive funds from: Grants provided by companies and foundations. Government support at the state, local, and federal levels. Individual donations from your major donors.

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