Audits are essential for nonprofits to ensure they are in compliance with all applicable laws, regulations, and industry standards. An audit can also provide insight into the organization’s financial health and help identify areas of improvement.
[Read more…] about Nonprofit Audit: Best Practices for Preparation and ComplianceAccounting for Nonprofits
Charitable Contributions: 10 Steps to Maximize Your Tax-Deductible Donations
Charitable contributions are an excellent way to give back and make a real difference in the world. Donating to a qualified nonprofit benefits those in need while also reducing your taxes. But maximizing your deductions is no easy task. In this blog post, we’ll look at ten steps you can take to ensure that your charitable contributions are properly documented and maximize your tax benefits.
[Read more…] about Charitable Contributions: 10 Steps to Maximize Your Tax-Deductible DonationsWhat Is Fund Accounting for Nonprofits: Basics and Best Practices
Fund accounting for nonprofits tracks nonprofit revenue and expenses, demonstrating accountability rather than profits to funding sources. Let’s take a deep dive into the basics of fund accounting and why nonprofits need to understand it.
[Read more…] about What Is Fund Accounting for Nonprofits: Basics and Best Practices[Podcast] Ultimate Guide to Selecting the Perfect Accounting Software for Nonprofits
Choosing the right accounting software for nonprofits is important for the success of your organization. Some factors to consider include budget, accounting needs, user-friendliness, and integrations with other tools. When selecting nonprofit accounting software, compliance should be a top priority. Be sure the software you choose meets nonprofit requirements such as financial reporting standards, grant tracking, and donor management.
[Read more…] about [Podcast] Ultimate Guide to Selecting the Perfect Accounting Software for NonprofitsIRS Form 990: Instructions and Requirements for Filing Correctly
Most nonprofits are required to file IRS Form 990, which can be a daunting task. There are many instructions and requirements that must be followed in order to correctly file the form. If you don’t follow the instructions and requirements for filing IRS Form 990, your nonprofit could face penalties.
This guide provides a step-by-step instructions on how to correctly file IRS Form 990 for your nonprofit organization.
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