Accounting for Nonprofits: Blog Series

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Nonprofit Accounting Methods: Cash vs Accrual

Nonprofit Accounting Methods: Cash vs Accrual

For-profit vs nonprofit accounting methods for small nonprofits are very different and more complicated. Not only do nonprofits need to account for service-based income like a for-profit, they must also account for donations, grants and fundraising event revenue....

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Nonprofit Budget Basics: The Key to Financial Health

Nonprofit Budget Basics: The Key to Financial Health

Your nonprofit budget is the heart and soul of your organization and can serve as a guiding light for financial health. What Is A Nonprofit Budget? A budget represents what your nonprofit expects to spend (expenses) and earn (revenue) over a specified time period....

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Nonprofit Accounting Questions: Blueprint for Compliance

Nonprofit Accounting Questions: Blueprint for Compliance

In order to fully understand compliance, you must answer three key basic nonprofit accounting questions. This is the basis for the difference between nonprofit and for-profit accounting. Three Nonprofit Accounting Questions 1. What are net assets? 2. What is fund...

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Nonprofit Internal Controls: How To Prevent Fraud

Nonprofit Internal Controls: How To Prevent Fraud

Without strict nonprofit internal controls, it’s easy for someone to abuse your funds and take advantage of donors and the organization. Stories about nonprofit fraud have unfortunately become all too common in the media. However if a nonprofit implements strict...

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Indirect Cost Allocations: Key To Proper Fiscal Management

Indirect Cost Allocations: Key To Proper Fiscal Management

Developing a fair and equitable indirect cost allocations process is key to proper nonprofit financial management and reporting. Nonprofit Expense Classification All nonprofit organizations need to classify their expenses in one of three functional areas: Management...

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Can Nonprofit Administrative Expenses Impact Funding?

Can Nonprofit Administrative Expenses Impact Funding?

Nonprofit administrative expenses are a necessary investment in your infrastructure and operations and are essential for your organization to be more sustainable to be able to fulfill your mission.   Nonprofit Administrative costs reflect “how” your nonprofit...

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