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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. Statement of cash flows.

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How to Manage Payroll for Your Staff: A Nonprofit Guide

Top Nonprofits

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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Stuck in a Staffing Crisis? 3 Reasons Your Recruiting Might Not Be Working

The Charity CFO

A good health insurance plan and paid time off are requirements for a lot of great employees. While you can’t make money appear out of nowhere, your nonprofit accountant can likely help you determine how to make compensation more competitive.

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7 Essentials Of Nonprofit Financial Management

The Charity CFO

Your nonprofit budget should include the following parts: Estimated Revenue: Revenue sources include member dues and fees, events, merchandise, donations, grants, sponsorships, corporate giving, crowdfunding, fundraising, program income, loans, and program-related investments. Nonprofit Financial Management Statements and Reports.

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Fundraising in the Black: 4 Accounting Best Practices

Fundraising Coach

Your organization creates an annual budget to help determine your overarching financial health and goals. Purchasing insurance for the event. Be sure to work closely with your accounting team to make sure you’re in-line with your overarching budget and have effectively planned out each campaign for maximum profitability.

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Fundraising in the Black: 4 Accounting Best Practices

Fundraising Coach

Your organization creates an annual budget to help determine your overarching financial health and goals. Purchasing insurance for the event. Be sure to work closely with your accounting team to make sure you're in-line with your overarching budget and have effectively planned out each campaign for maximum profitability.