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. .

Nonprofit Finance 98

Nonprofit Finance Finance Nonprofit governance and management Nonprofits 98

The Charity CFO

FEBRUARY 8, 2024

Does the idea of a financial audit on your nonprofit leave you feeling nervous? For many nonprofits, a full financial audit can help ensure the accuracy of their financial recordkeeping. Luckily, not all financial situations require an audit. However, it can also feel invasive and overwhelming.

Nonprofit governance and management 52

Nonprofit governance and management Finance Governance Health 52

NonProfit Leadership Alliance

OCTOBER 5, 2022

The purpose of a nonprofit budget is to help you better plan your income and expenses in order to accomplish your goals. For nonprofits, you’ll use your budget to predict fundraising revenue and ensure those funds will cover all your program and administrative expenses. Choose the best budgeting model for your nonprofit. .

Nonprofit Administration and Development 130

Nonprofit Administration and Development Finance Nonprofits Nonprofit Accountability 130

The Charity CFO

DECEMBER 30, 2021

Contrary to what many people envision, a nonprofit audit doesn’t usually start with a letter from the IRS. Instead, an independent nonprofit audit is something you choose to build trust in your nonprofit organization. An audit can be a critical step for a growing nonprofit that needs to raise increasing amounts of funds.

Nonprofits 98

Nonprofits Health Leadership Management 98

NonProfit Leadership Alliance

NOVEMBER 29, 2022

Your nonprofit had a successful year organizing fundraising campaigns , hiring new employees, and expanding awareness of your cause. All registered tax exempt nonprofits are required to file their annual taxes. What is Form 990? Nonprofits are required to file annually or they can lose their tax-exempt status. .

Finance 176

Finance Charitable Organizations Foundations Associations 176

The Charity CFO

JANUARY 31, 2022

The Statement of Activities is the Income Statement of a nonprofit organization. You may also know it as a profit and loss statement or income and expense report. As a nonprofit, you call the difference between revenue and expenses the change in net assets. . What’s on the Statement of Activities? .

Activism 98

Activism Nonprofit governance and management Non-Profits Public and Nonprofit Management 98

The Charity CFO

JANUARY 12, 2024

Financial forecasting is a term you’ll hear thrown around in the business world quite often—but in the world of nonprofits, it can be difficult (and even downright impossible) to plan your organization’s finances with any degree of certainty. The best way to do this is through financial forecasting.

Finance 52

Finance Nonprofits Nonprofit Accountability Management 52

The Charity CFO

JANUARY 21, 2022

Nonprofits often receive donations or grants designated for a specific purpose–like a donation to a specific program or grant you have to spend within a calendar year. And the issue of restricted funds presents unique bookkeeping and accounting challenges for a nonprofit that a for-profit company doesn’t face.

Nonprofit governance and management 98

Nonprofit governance and management Public and Nonprofit Management Nonprofits Finance 98

Candid

MARCH 25, 2024

Foundation grants can be one of several revenue streams in a nonprofit organization’s sustainable fundraising plan. In 2022, foundation funding accounted for about $105.21 Naturally, most nonprofits will try to secure a grant at some point. Naturally, most nonprofits will try to secure a grant at some point.

Nonprofit Organizations 105

Nonprofit Organizations Nonprofit Organizations Foundations Governance 105

The Charity CFO

SEPTEMBER 28, 2022

If you manage a nonprofit, you know very well that every day there are a million and one things to be done. But it’s often seen as “busywork,” it rarely makes the priority list, and under-staffed nonprofit teams often fall behind. But nonprofit bookkeeping doesn’t have to be so stressful.

Finance 105

Finance Nonprofits Nonprofit Accountability Law 105

The Charity CFO

MARCH 31, 2023

The IRS does not require nonprofit audits in most cases, however, they may periodically request an audit (examination) or a compliance check. The IRS does not require nonprofit audits in most cases, however, they may periodically request an audit (examination) or a compliance check. Should My Nonprofit Obtain an Independent Audit?

Nonprofit governance and management 98

Nonprofit governance and management Nonprofits Governance Health 98

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. Let’s explore how you can define your nonprofit KPIs and some examples of common metrics. This, of course, is what makes defining nonprofit KPIs complicated. Have measurable data readily available.

Nonprofits 52

Nonprofits Finance Retention Nonprofit Accountability 52

The Charity CFO

APRIL 12, 2022

Cash flow isn’t just an issue for small nonprofits that depend on donations to meet payroll each month. A lack of cash on hand impacts nonprofit organizations of all sizes. A few years ago, we were working with a fully-funded nonprofit. . Everything was looking not just good, but great. Take this example….

Nonprofit governance and management 105

Nonprofit governance and management Nonprofits Governance Foundations 105

The Charity CFO

APRIL 18, 2024

It’s no secret that running a nonprofit isn’t always easy, especially if you don’t know what challenges await you in the coming months. Luckily, we’ve put together a list of the five most common challenges for nonprofits in 2024. These challenges include financial issues, data security compliance, and talent retention problems.

Non-Profits 52

Non-Profits Nonprofit Accountability Finance Nonprofits 52

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. A bookkeeper records and organizes financial data; an accountant interprets and presents that data. .

Public and Nonprofit Management 98

Public and Nonprofit Management Nonprofits Nonprofit Accountability Management 98

The Charity CFO

APRIL 13, 2023

Nonprofit financial management is one of the primary concerns for organizations. Nonprofits are special types of organizations, in both their structure and their purpose. This meaning is the driving force behind what nonprofit organizations do day in and day out.

Management 52

Management Finance Public and Nonprofit Management Nonprofits 52

The Charity CFO

JANUARY 5, 2022

Functional expense reporting confuses many first-time nonprofit bookkeepers and executives. But it is need-to-know-information in the nonprofit world. Because you’re required to report functional expenses to complete your IRS 990 and maintain nonprofit status. What are Functional Expenses? But what is a function, anyway?

Non-Profits 96

Non-Profits Nonprofits Finance Public and Nonprofit Management 96

The Charity CFO

AUGUST 24, 2022

Managing a nonprofit’s finances is not a one-person job. Sure, your financial team– your bookkeeper, accountant, and CFO (if you have one)–take the lead role in managing your finances. But keeping financial responsibility “siloed” within the accounting team is both dangerous and ineffective.

Management 98

Management Finance Participation and motivation Nonprofits 98

The Charity CFO

FEBRUARY 8, 2023

Does your organization pay close attention to your nonprofit statement of cash flows? When you think of financial statements, the balance sheet or income statement typically come to mind. What is the nonprofit statement of cash flows? What is the nonprofit statement of cash flows?

Finance 52

Finance Activism Values Nonprofits 52

The Charity CFO

APRIL 19, 2022

As a CPA working exclusively with nonprofits and a former nonprofit auditor, I’ve looked at thousands of nonprofit financial statements over the past 10 years. Looking at that many balance sheets, you start to identify trends. Want to know if your nonprofit is headed for trouble?

Nonprofit governance and management 98

Nonprofit governance and management Public and Nonprofit Management Finance Nonprofit Accountability 98

Nonprofit Tech for Good

FEBRUARY 6, 2022

Although the most popular accounting software products- like QuickBooks and SAP- handle the needs of businesses in many industries, nonprofits have a unique business model and accounting standards and require different features and functionality from accounting software. How is Accounting Different for Nonprofits?

Nonprofit governance and management 120

Nonprofit governance and management Public and Nonprofit Management Non-Profits Nonprofits 120

Bloomerang

DECEMBER 1, 2021

Does your mission statement impact your fundraising efforts? Even without this research, you’ve likely intuited that an effective mission statement draws supporters and donors in and gets them excited about helping you achieve that mission. . Below I’ll share what that research involved and what we learned. .

Homelessness 129

Homelessness Associations Production Technology 129

The Charity CFO

MARCH 24, 2022

Nonprofit fraud makes for great headlines— like the Minnesota nonprofit Feeding Our Future accused this year of squandering $48 million of federal funding on luxurious trips, fancy mansions, and other personal costs. . According to The New York Times , the value of nonprofit fraud is approximately $40-50 Billion each year.

Nonprofit governance and management 98

Nonprofit governance and management Participation and motivation Public and Nonprofit Management Non-Profits 98

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. Maybe that’s you! Again, big mess.

Nonprofit Accountability 98

Nonprofit Accountability Nonprofit governance and management Finance Management 98

The Charity CFO

FEBRUARY 27, 2024

Budget tracking is the process of monitoring your nonprofit’s income and expenses to ensure they stay within your planned budget. Effective budget tracking is essential to financial transparency, efficient resource allocation, and strategic planning for your nonprofit. But your budget shouldn’t be a “set it and forget it” plan.

Finance 52

Finance Nonprofit governance and management Public and Nonprofit Management Nonprofits 52

Get Fully Funded

APRIL 25, 2024

If your nonprofit’s team is facing fundraising burnout , you’re likely looking for low-lift fundraising opportunities that don’t require as much time or effort to secure necessary funding. In this guide, we’ll explore how nonprofit endowments work and what steps to take to start fueling your long-term fundraising success.

Fundraising 52

Fundraising Fundraising Nonprofits Management 52

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?

Nonprofit Accountability 52

Nonprofit Accountability Nonprofit governance and management Non-Profits Public and Nonprofit Management 52

The Charity CFO

OCTOBER 16, 2023

It may not seem like a significant aspect of your organization’s financial situation, but picking the right nonprofit banking partner is one of the most vital decisions leaders can make. Don’t just consider your needs now – think about your potential long-term goals and what would be required to operate comfortably.

Non-Profits 59

Non-Profits Nonprofits Finance Energy 59

The Charity CFO

JUNE 10, 2022

Your finance committee spends the most time analyzing and studying your nonprofit’s numbers, yet your entire board of directors is responsible for financial oversight. All board members are responsible for the financial health of a nonprofit organization. Many board members lack confidence in the financial oversight role.

Finance 52

Finance Management Non-Profits Nonprofits 52

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. Understanding Nonprofit Net Assets.

Non-Profits 52

Non-Profits Finance Food Nonprofit Accountability 52

The Charity CFO

OCTOBER 4, 2022

million nonprofits globally. To ensure that a nonprofit runs efficiently, several people work behind the scenes to make things much easier, and one of those people is the operations manager. The operations manager might be the secret weapon of the most successful nonprofits we know. What does an operations manager do?

Management 98

Management Nonprofit Administration and Development Informational Technology Technology 98

The Charity CFO

JULY 13, 2022

This article will summarize the principal criteria the top 3 charity watchdogs use to evaluate your nonprofit organization. What are Charity Watchdogs? Charity Watchdogs is a term used to describe various organizations attempting to measure the quality of a nonprofit organization. Charity Navigator’s Star Rating System.

Public and Nonprofit Management 98

Public and Nonprofit Management Nonprofit governance and management Finance Nonprofits 98

The Charity CFO

MARCH 27, 2024

QuickBooks is a popular accounting software used by businesses and individuals nationwide. As a nonprofit leader, you’ve probably heard of QuickBooks or may have even used it before. And you might be wondering if you can use QuickBooks for your nonprofit accounting.

Public and Nonprofit Management 40

Public and Nonprofit Management Nonprofit governance and management Nonprofit Accountability Nonprofits 40

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.

Nonprofit Accountability 52

Nonprofit Accountability Nonprofits Finance Law 52

Bloomerang

JANUARY 22, 2024

You might be inspired to bring your idea to life by starting a nonprofit. million registered nonprofits in the United States, making these charitable organizations a staple of modern society. However, any new nonprofit needs a strong foundation to thrive. However, any new nonprofit needs a strong foundation to thrive.

Public and Social Policy 82

Public and Social Policy Nonprofit governance and management Public and Nonprofit Management Charitable Organizations 82

The Charity CFO

NOVEMBER 30, 2023

Most nonprofit leaders aren’t accountants and the thought of getting audited is a sizable fear. Luckily, being prepared can help you avoid accounting mistakes that could come up in a nonprofit audit. This guide will help you better understand the common mistakes nonprofits make in their accounting systems.

Nonprofit Accountability 52

Nonprofit Accountability Finance Nonprofits Education 52

Bloomerang

MAY 19, 2023

Let’s briefly discuss what resources are needed to pursue grant funding and if your organization is in a position to do so. In other words, let’s look at the readiness to apply for grants and readiness to manage grant projects. In other words, let’s look at the readiness to apply for grants and readiness to manage grant projects.

Organizational Development 85

Organizational Development Leadership Activism Management 85