Choosing the right nonprofit accounting software is crucial to the success and efficiency of your organization. Consider factors such as 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 can meet nonprofit requirements such as financial reporting standards, grant tracking, and donor management.[Read more…] about Nonprofit Accounting Software: How to Make the Right Choice
Nonprofit Fund Accounting
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.[Read more…] about IRS Form 990: Instructions and Requirements for Filing Correctly
The statement of the nonprofit financial position report provides an overview of what an organization is worth and a birds eye view of the health of the organization. Net assets, presented in the nonprofit Statement of Financial Position report, reveal total revenue, assets and liabilities.[Read more…] about Statement of Financial Position: What Nonprofit Net Assets Reveal
Nonprofit accounting is the process of recording, managing, and preparing compliant financial statements for 501(c)(3) organizations. This includes everything from tracking income and expenses to tax returns to generating financial reports necessary for maintaining tax exempt status.[Read more…] about Nonprofit Accounting: Best Practices for Preparing Financial Statements
Donor stewardship involves fundraising, tracking donations, managing expectations, communicating with donors, and setting up systems to track results.[Read more…] about Donor Stewardship: Relationship Building Strategy for Nonprofits