The Charity CFO

SEPTEMBER 2, 2022

Not surprisingly, this above-average employee turnover impacted nearly every industry, but it has hit nonprofits and financial professionals particularly hard. . However, nonprofit accountant turnover is not a new problem in the sector. Why Do Nonprofit Accountants Quit? Inflexible or antiquated accounting systems.

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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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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. Print, sign, send.

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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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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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The Charity CFO

APRIL 15, 2022

At the same time, hundreds of nonprofits are waking up to realize that the financial structure they’ve always relied on doesn’t work as well any more. And they’re tired of the hamster wheel of hiring, re-hiring, training, and re-training bookkeepers and accountants. So why do accountants leave nonprofit organizations?

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The Charity CFO

APRIL 18, 2024

Having a dedicated team working on regulatory issues reduces the chances of you missing something as you focus on other parts of your organization. You may also want to reach out to professionals who can help guide your organization. However, nonprofit employee recruitment can be an ongoing challenge. Get the free guide!

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The Charity CFO

APRIL 22, 2024

The impact of this goes beyond individual well-being and can affect your organization’s effectiveness and ability to advance your mission. Keep reading to learn how burnout can happen and get tips for implementing a burnout prevention strategy for your organization. Our team knows the stress nonprofit employees have to face.

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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.

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The Charity CFO

APRIL 28, 2023

Is there an advantage to working with accounting firms specializing in nonprofits? Nonprofit organizations play a crucial role in addressing social, environmental, and cultural issues in our society. Grant Accounting Many nonprofit organizations rely on grants to fund their programs and services.

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The Charity CFO

MARCH 27, 2024

And you might be wondering if you can use QuickBooks for your nonprofit accounting. The answer is yes, QuickBooks Online can be configured for nonprofit use. Let’s dive into the benefits of using QuickBooks Online for your nonprofit and explore how to get the most out of the program.

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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

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”. Not compliant?

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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.

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The Charity CFO

MAY 11, 2023

Bookkeeping is a critical component of running a successful nonprofit organization. It involves the management of financial transactions and the maintenance of accurate records to ensure that your organization remains financially healthy and compliant with the law. There is no one size fits all solution.

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The Charity CFO

JANUARY 12, 2024

Specifically, a financial forecast , sometimes called a projection, is an estimation of an organization’s projected financial conditions based on past and current finances. Key Components of Financial Forecasts So, what are some of the key components of a financial forecast for a nonprofit organization?

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Bloomerang

FEBRUARY 16, 2024

It isn’t easy to know where to start when creating a plan for your nonprofit’s funds because each step is important to the overall effectiveness of your financial management. Using a nonprofit banking account can simplify nonprofit financial management and provide benefits that personal and business accounts do not offer.

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Get Fully Funded

OCTOBER 26, 2022

The following checklist covers the basics of everything you need to get funded , become official, and stay organized: Define your nonprofit’s mission clearly. Start earning revenue for the organization. Take steps to incorporate your nonprofit. Organize your resources. Hire a motivated team. Plan for the future.

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The Charity CFO

APRIL 5, 2023

What Does Nonprofit Compliance Mean? Compliance is the act of assuring the public that nonprofit organizations are obeying the appropriate laws, contracts and commitments that they enter into as a nonprofit organization. Requirements at the federal and state levels also vary.

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The Charity CFO

FEBRUARY 9, 2022

This tax benefit will create a wave of new donations to nonprofit organizations over the next decade as cryptocurrency investors start to look for ways to reduce their tax liabilities. Cryptocurrency can be as good as cash for nonprofits. Want to learn the basics of nonprofit accounting? . are two examples.

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The Charity CFO

FEBRUARY 25, 2022

If you’re brand new to nonprofit accounting, the Chart of Accounts might be the best place to start. Because even if you only have one bank account, bill, investment, or expense, you’ll need one. What is a Chart of Accounts? Account Description. Get Started with Nonprofit Accounting.

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The Charity CFO

JANUARY 19, 2023

Accounting standards for nonprofits are probably not the first thing you think about, but are crucial for your organization to succeed. Nonprofit organizations distinguish themselves from for-profit entities through their purpose and mission. Do You Struggle to Make Sense of Your Financial Statements?

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The Charity CFO

AUGUST 30, 2022

ASC 606 Revenue Recognition for Nonprofit Organizations. All US businesses, for-profit and nonprofit, were subject to new revenue recognition standards starting by 2019. Nonprofit accounting departments often move slowly, so while hopefully you’ve already implemented these standards, you should ensure that you have.

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EveryAction

JANUARY 25, 2023

Whether you’re a large nonprofit looking for different ways to amplify your mission or a small team trying to stretch your marketing dollars, it makes sense to first seek out free advertising for nonprofit organizations. Advertise your nonprofit on social media Brand recognition is super important for nonprofits!

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The Charity CFO

APRIL 8, 2022

Starting a nonprofit organization can be confusing and tricky, especially if it’s your first time and you don’t have any experience filling out a 501c(3) application. However, filling out the application is an essential step in setting up a nonprofit charity with the full benefits of tax-exempt status.

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The Charity CFO

APRIL 24, 2024

A key performance indicator (KPI) is a data metric you can use to gauge the overall success of your nonprofit organization. You can use KPI data to track your organization’s performance in various areas, such as finance or operations. Contact us today to learn more. Do You Struggle to Make Sense of Your Financial Statements?

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The Charity CFO

DECEMBER 21, 2021

So if you’re new to nonprofit accounting , you shouldn’t make too many assumptions about which taxes you will (or won’t) have to pay. . In this article, we’ll do our best to answer the most the most common tax-related questions for 501(c)(3) nonprofits. Do nonprofits pay property tax?

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The Charity CFO

OCTOBER 12, 2022

Since nonprofit organizations don’t profit from the money they make , the accounting processes for nonprofits look somewhat different than for-profit companies. And one of the key differences is that nonprofits talk about net assets rather than net income or equity. Need Help Navigating Your Nonprofit’s Finances?

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Nonprofit Megaphone

MARCH 7, 2024

Running a successful nonprofit organization requires accomplishing a long list of goals. Nonprofits have a lot to deal with, and limited resources. Digital marketing is an essential aspect of a nonprofit organization’s marketing.

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The Charity CFO

JANUARY 30, 2024

It could also help make long-term nonprofit financial forecasting easier for your accounting team. Operational Costs are Breaking the Bank Nonprofit organizations have a wide range of costs they need to operate. As individual organizations, both have to pay for office space and utilities.

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Nonprofit Marketing Insights by GlobalOwls

APRIL 15, 2023

Finding donors and sponsors consistently has always been a challenge faced by most nonprofit organizations. In the wake of the Covid-19 crisis, this issue has become even more pronounced for nonprofits as they struggle with financial burdens. You can also partner with other nonprofits in similar fields to create more impact.

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The Charity CFO

APRIL 19, 2022

Or want to check out a nonprofit before you make a significant financial gift? Every nonprofit organization has swings in cash balances throughout the year. The calculation looks like this: As a nonprofit, you need to concern yourself specifically with unrestricted cash and cash equivalents. Maybe We Can Help.

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Candid

JULY 26, 2022

Failing to adequately fund overhead can have real consequences for nonprofit organizations. Let’s consider one example— setting nonprofit staff compensation. When it comes time to cut overhead costs, some organizations start with staff salaries. Go above and beyond with transparency when discussing overhead.

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The Charity CFO

FEBRUARY 4, 2022

Do a Google search on nonprofit bookkeeping, and you’ll find page after page of articles on nonprofit accounting. Because while nonprofit bookkeeping and accounting are related, they’re not the same thing. Sure, you’ll find overlap between the two roles In many small organizations.

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The Charity CFO

JANUARY 25, 2022

The Statement of Financial Position is the Balance Sheet of a nonprofit organization. It gives you a snapshot of a nonprofit’s financial health at a point in time by displaying what the organization owns (assets), what it owes to others (liabilities), and its value (net assets).

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NonProfit Hub

SEPTEMBER 16, 2021

However you learn best, there is a track available through Nonprofit Hub to get you the knowledge and expertise you need to grow your nonprofit mission. Square One: Taking an Idea from Concept to 501c3 Organization. Starting a nonprofit organization can be overwhelming. Three Common Nonprofit Board Myths [BLOG].

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Nonprofit Tech for Good

SEPTEMBER 6, 2018

In short, GitHub for Good is a free GitHub account. To qualify, your organization must meet a set of requirements: GitHub nonprofit accounts are designed for official nonprofit organizations and charities that are nongovernment, nonacademic, noncommercial, nonpolitical in nature, and have no religious affiliation.

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