Nonprofit Fund Accounting Series
Nonprofit financial transparency is essential, both legally and ethically, for building trust and accountability to funding sources.
Nonprofits sometimes get caught up with donor restrictions imposed on donations and how to use these funds to pay expenses. What is the best way to pay expenses using donor restricted funds and remain compliant?
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.
Nonprofit restricted assets have changed extensively since 2016. In order to avoid unintentionally misappropriating funds, it is important to understand the practical management of restricted funding.
Proper nonprofit audit preparation and compliance is important for building donor trust, financial transparency and accountability.
What is a nonprofit statement of financial position report and how can it determine if a nonprofit is healthy financially?
As a nonprofit organization you are required by the IRS to file an annual financial information return called the IRS Form 990.
The new FASB rules have re-defined the classification of funds known as net assets, altering the way nonprofits present their financial statements.
It all comes down to the measurement of success. Regardless of a for profit’s mission statement, the number one goal is to make money. But, to a nonprofit organization, the answer is not so simple.
While you might think that all accounting is the same – debits and credits – there are vast differences between Nonprofit Accounting and Commercial For-Profit Accounting.