Total Software Solution for Nonprofits
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. Who Files Form...
Nonprofit restricted assets refers to the management of net assets: net assets with donor restrictions and net assets without donor restrictions. In order to avoid unintentionally misappropriate funds, it is important to understand the practical management of...
Nonprofit stewardship means cultivating an ongoing relationship with a donor. Accountability is demonstrating to funding sources that funds were used for its donor designated purpose. Nonprofit Stewardship Requires Donor Designation In 2018, new reporting...
What is a nonprofit statement of financial position report and how can it determine if a nonprofit is healthy financially? In a previous blog we explained what Net Assets are on a nonprofit’s statement of financial position (commonly referred to a Balance...
The Statement of Financial Position of net assets presents current revenue, assets, and liabilities for nonprofits. This is the key difference between for profit vs nonprofit accounting. Net Assets and Liabilities: Statement of Financial Position The...
GAAP for nonprofits has set new fund classifications under FASB, altering the presentation of financial statements. What is GAAP for Nonprofits? GAAP stands for Generally Accepted Accounting Principles. It provides accounting definitions for entities such as...
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...
Nonprofit financial statements must show all incoming and outgoing funding to demonstrate accountability and compliance. For-Profit and Nonprofit Financial Statements In previous blog posts, we discussed the for-profit vs nonprofit accounting. A for-profit’s...
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...
Nonprofits face many challenges when it comes to tracking and reporting to funding sources. This is the time to think about switching to nonprofit fund accounting software. Why nonprofits face many financial challenges. One of the biggest challenges is preparing and...