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
Nonprofit Fund Accounting
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 Ultimate Guide to Selecting the Perfect Accounting Software for Nonprofits
IRS Form 990 instructions can seem overwhelming for many nonprofits. Yet, it’s crucial to follow the requirements for correct submission. If your nonprofit fails to comply with these instructions and stipulations, you could face penalties.
This guide simplifies the process by offering a step-by-step walkthrough on how to accurately file IRS 990 for your nonprofit organization.[Read more…] about IRS Form 990 Instructions 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 are Nonprofit Net Assets?
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