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Understanding Functional Expenses for Nonprofits

The Charity CFO

Functional expense reporting confuses many first-time nonprofit bookkeepers and executives. But, because most for-profit companies don’t track functional expenses, they’re just not familiar with it. But it is need-to-know-information in the nonprofit world. But it’s not because it’s complicated.

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501(c)(3) Checklist: Preparing for Nonprofit Status

Top Nonprofits

The fundraising strategy you intend to follow and any services you’ll offer need to serve your charitable purpose. Register for charitable solicitations Before you can start fundraising , you’ll most likely need to register with your state to ask for donations. Have a detailed financial plan and accounting system in place.

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