As a nonprofit organization you are required by the IRS to file an annual financial information return called the IRS Form 990. [Read more…]
7 Practices to Modernize Your Donor Stewardship Plan
Your organization is doing well with donations. You’ve found donors who care deeply about your organization and have donated generously. But does that mean you’re done? Not even close. [Read more…]
Nonprofit Earned Revenue vs Charitable Contributions
The difference between nonprofit earned revenue and contributions is quite simple. Earned revenue is money that a charity earns for providing goods or services. [Read more…]
Nonprofit Fund Accounting: Difference Between a Fund and a Program
Nonprofit fund accounting is based on funds and programs, but, what is the difference between a fund and a program? [Read more…]
Nonprofit Accounting Methods: Cash vs Accrual
Nonprofit accounting methods for small nonprofits are very different and more complicated than those for for-profit businesses. [Read more…]
Nonprofit Accounting: What Are Net Assets?
One of the key differences between for profit and nonprofit accounting is the presentation of net assets on the balance sheet. In the nonprofit world, it is not called a balance sheet, but a Statement of Financial Position. [Read more…]
Nonprofit Functional Expenses: Fulfills Reporting Requirements
One of the major differences in financial statement presentation between for profit companies and nonprofit organizations is the presentation of nonprofit functional expenses on the Statement of Activities and Changes to Net Assets. [Read more…]
New FASB Rules Define New Nonprofit Fund Classes
The new FASB rules have re-defined the classification of funds known as net assets, altering the way nonprofits present their financial statements. [Read more…]
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