Nonprofit Fund Accounting: Blog Series

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Why Do Nonprofits Need Fund Accounting?

Why Do Nonprofits Need Fund Accounting?

Nonprofits and government agencies need fund accounting to demonstrate accountability and compliance. By classifying funds, a fund accounting system tracks revenue to a designated purpose and prevents misuse of donations.   If a nonprofit wants to be compliant...

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New FASB Rules for Nonprofits: Are You Ready?

New FASB Rules for Nonprofits: Are You Ready?

New FASB rules for nonprofits are scheduled to took effect in December 2017. Is your nonprofit ready? The Financial Accounting Standards Board (FASB) issued new rules for nonprofits on August 18, 2016. This is the first major set of changes to nonprofit financial...

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Nonprofit Form 990: Essential Information For Preparation

Nonprofit Form 990: Essential Information For Preparation

When preparing your nonprofit IRS Form 990, key reporting elements must be included for proper preparation. In our last blog we outlined the requirements for filing Form 990 with the IRS for nonprofit organizations and which form you need to file, depending on your...

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Form 990 Filing Tips: What You Need to Know

Form 990 Filing Tips: What You Need to Know

Knowing Form 990 filing tips presents helps maintain your nonprofit’s status and compliance. Since the 990 is available to the public, it is an easy way for donors and other funding sources to evaluate the transparency of the organization. If filled out...

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Nonprofit Audit Standards: How It Impacts Nonprofits

Nonprofit Audit Standards: How It Impacts Nonprofits

Nonprofit audit standards make it management’s responsibility, not the auditor, to establish and maintain proper internal controls. Nonprofit Audit Standards Pinpoint Internal Control Deficiencies When the American Institute of Certified Public Accountants...

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6 Easy Accounting Strategies to Increase Nonprofit Revenue

6 Easy Accounting Strategies to Increase Nonprofit Revenue

Increasing nonprofit revenue is a challenge most organizations face. By following these 6 easy accounting strategies, your nonprofit revenue can be sustainable. Overcoming nonprofit revenue challenges To overcome challenges, today’s nonprofit executives need to...

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