Total Software Solution for Nonprofits
Financials for nonprofits require an in-depth understanding of the sector as well as exposure to some of the challenges that make it so unique. As an accounting professional, you may have exposure to financials of a wide range of sectors, which helps fine tune your...
Fund accounting 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. Basics of Fund Accounting This type of...
Bookkeeping for nonprofits is essential for maintaining day-to-day data entry of revenue and expenses. Let’s explore best hiring practices. What is bookkeeping for nonprofits? Every dollar that comes in and every dollar that goes out must be recorded. It is the role...
Nonprofit cash flow forecasts predict when revenue comes in and when revenue goes out. It is an excellent tool to avoid cash shortfalls. By pinpointing deficits during a 12-month period, your nonprofit can avoid a crisis before it becomes a major problem. 5 steps to...
Nonprofit operating reserves is revenue set aside for future use. Planning for this ensures long-term financial heath. Where does this money come from and how can nonprofits plan for the future? Establishing nonprofit cash reserves Nonprofit operating reserves are...
Tax-exempt status under IRS 501(c)(3) refers to an organization which must be organization and operated exclusively for exempt purposes. None of its earnings may be for private or individual use. Nonprofit Tax-Exempt Criteria The tax-exempt status of an organization...
Hiring a nonprofit accountant is critical to a nonprofit’s success in fulfilling its mission. Selecting an accountant with the proper skills and understanding can be a daunting task. Before you hire your next nonprofit accountant, be sure they have the knowledge...
Nonprofit financial transparency is essential, both legally and ethically, for building trust and accountability to funding sources. Nonprofits are required to publicly disclose current tax forms and financial information. But, nonprofit accountability goes beyond...
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? How to Pay Expenses Using Donor Restricted Donations In...
Technology can simplify your event management, saving you time. Try these effective digital event management strategies when planning your nonprofit’s next fundraising event! Nonprofits have relied on fundraising events to earn a portion of the revenue they need to...