Total Software Solution for Nonprofits
Compared to for-profit accounting, accounting for nonprofits focuses on demonstrating accountability and fulfilling its mission as a measurement of success. What is Accounting for Nonprofits? While many aspects of for-profit and nonprofit accounting are...
Bookkeeping for nonprofits is essential for maintaining day-to-day data entry of revenue and expenses. Let’s explore best hiring practices. What is bookkeeping for nonprofits? Every dollar that comes in and every dollar that goes out must be recorded. It is the role...
Nonprofit cash flow forecasts predict when revenue comes in and when revenue goes out. It is an excellent tool to avoid cash shortfalls. By pinpointing deficits during a 12-month period, your nonprofit can avoid a crisis before it becomes a major problem. 5 steps to...
Nonprofit operating reserves is revenue set aside for future use. Planning for this ensures long-term financial heath. Where does this money come from and how can nonprofits plan for the future? Establishing nonprofit cash reserves Nonprofit operating reserves are...
Is your nonprofit tax exempt? Being a nonprofit organization doesn’t mean you are exempt from paying taxes. This post explores the criteria for tax exemption. Nonprofit Tax-Exempt Criteria Nonprofit organizations must fulfill federal requirements to qualify as...
Hiring a nonprofit accountant is critical to a nonprofit’s success in fulfilling its mission. Selecting an accountant with the proper skills and understanding can be a daunting task. Before you hire your next nonprofit accountant, be sure they have the knowledge...
In order for organizations to maintain their status they must demonstrate nonprofit compliance with government regulations. We explore key ways to remain compliant. Accounting Practices for Nonprofit Compliance Although a nonprofit may have been founded out of a...
Nonprofit Form 990 red flags impact donor trust and reveal lack of due diligence. The 990 is a snapshot of how well an organization has complied with government regulations and what activities it has carried out to ensure it is upholding its mission. Who Files Form...
As the COVID-19 crisis unfolds, both nonprofit bottom lines are impacted — mission and financial. Following a nonprofit sustainability plan is key to survival. Nonprofit Sustainability Plan: Key to Survival Both nonprofit bottom lines are impacted — mission and...
Following best practices for nonprofit grant management simplifies reporting accurate, timely information to grantors and donors. Why Grant Reporting Is Complex The business operations of nonprofit and for-profit businesses are largely similar. Each provides a...