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5 Steps to Prepare your Organization for a Financial Audit

E78 Partners

Audits, while essential for maintaining the integrity and trustworthiness of an organization’s financial reporting, can be a daunting task. With adequate preparation, the process can be made seamless. These five steps are below.

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5 Challenges Nonprofits Face in 2024

The Charity CFO

These challenges include financial issues, data security compliance, and talent retention problems. Financial Sustainability For nonprofits, financial sustainability means the financial security to cover expenses and advance your mission. This leaves your organization with higher expenses and lower revenues.

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When Does Your Nonprofit Need an Audit?

The Charity CFO

Contrary to what many people envision, a nonprofit audit doesn’t usually start with a letter from the IRS. Instead, an independent nonprofit audit is something you choose to build trust in your nonprofit organization. An audit can be a critical step for a growing nonprofit that needs to raise increasing amounts of funds.

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Nonprofit Accounting Cleanup: How to Deal with a Mess

The Charity CFO

The conversation today has a very simple focus, 5 red flags that your nonprofit accounting needs improvement, even when it may not be recognized. Once these have been transferred into the accounting system, QuickBooks for example, reconciliation is the next step. Consider it like an internal audit and a necessity.

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10 Tips for Nonprofit Financial Health

The Charity CFO

Just like a human body’s health situation can be complex, nonprofit financial health is similarly nuanced. That’s why staying financially healthy and keeping your nonprofit in tip-top shape requires the occasional “checkup” to see where you’re doing well and where you can improve.

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Nonprofit Tax Filing: 7 Steps to Peace of Mind

The Charity CFO

Nonprofit leaders have an especially hard time understanding, preparing and filing their returns. Most still need to file a tax return to maintain their nonprofit status and keep their organization tax compliant. Most still need to file a tax return to maintain their nonprofit status and keep their organization tax compliant.

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Beyond the Basics: 7 Key Focus Areas for New CFOs

CFO Talks

Introduction to the Evolving Role of the CFO In our previous discussion, we outlined the critical first steps a newly appointed CFO should take to establish a solid foundation within their organization. The position of Chief Financial Officer has evolved significantly over the past few decades.