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. .
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. The post 10 Internal Controls for Safe Nonprofit Finances appeared first on Top Nonprofits by NXUnite.
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Nonprofit Megaphone
JUNE 23, 2022
Considering these budgets separately takes into account some of the intricacies of nonprofit accounting like restricted funds. Nonprofit finances can be challenging to understand. The post Nonprofit Finances: A Quick Guide for Nonprofit Growth appeared first on Nonprofit Megaphone.
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.
The Charity CFO
JANUARY 5, 2022
If you want to report your functional expenses properly AND always have audit-ready financial reports at your disposal, an experienced nonprofit accountant can help. At The Charity CFO , we work exclusively with nonprofit organizations to give them accurate books, timely reports, and expert advice on their nonprofit finances.
The Charity CFO
FEBRUARY 27, 2023
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. A new treasurer can face a steep learning curve, especially if they do not have a background in accounting.
The Charity CFO
JANUARY 12, 2024
At the same time, financial forecasting isn’t always easy—especially for nonprofit leaders who have other important obligations to focus on. At The Charity CFO , we’ve been trusted by hundreds of nonprofits to assist with everything from basic bookkeeping to financial forecasting and everything in between.
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