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Accounting for In-Kind Donations to Nonprofits

The Charity CFO

In-kind donations help your nonprofit get the resources you need to carry out your programs without asking for more cash. But accounting for in-kind donations presents its own unique challenges. Hopefully you already know a bit about what in-kind donations are and how they help grow your mission.

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How to Properly Record Revenue for Nonprofits

The Charity CFO

While the nature of a nonprofit means you’re focusing more on your mission than making money, bringing in revenue is still essential. This can lead to unique accounting and recordkeeping challenges that for-profit businesses don’t have to face—especially related to revenue classification.

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Updated Accounting Standards for In-Kind Donations (2022)

The Charity CFO

If your nonprofit uses donations of supplies, services, and even time to help fund your operations, you need to know about recent changes in accounting standards for in kind donations. Or, in other much simpler words, in kind donations. . When do the changes to in kind gift reporting go into effect?

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How Do Nonprofits Make Money?

The Charity CFO

Nonprofits exist to meet a societal need or provide a public benefit. Unlike an organization whose primary goal is to make money, nonprofits exist to meet a community’s needs. That said, while it’s not your primary purpose, your nonprofit must find ways to make money. . How do nonprofits make money?

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What is Financial Forecasting and Why Does it Matter to Nonprofits?

The Charity CFO

Financial forecasting is a term you’ll hear thrown around in the business world quite often—but in the world of nonprofits, it can be difficult (and even downright impossible) to plan your organization’s finances with any degree of certainty. What Is a Financial Forecast for Nonprofits?

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Statement of Activities: Reading a Nonprofit Income Statement

The Charity CFO

The Statement of Activities is the Income Statement of a nonprofit organization. As a nonprofit, you call the difference between revenue and expenses the change in net assets. . It includes donations, grants, fundraising, earned revenue, government funding, and special events. Or profit. . Change in Net Assets .

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New Rules For Nonprofit Lease Accounting: ASC 842 Explained

The Charity CFO

Updated standards on accounting for nonprofit leases ( ASC 842 ) go into effect this year for most organizations–and next year for the few remaining exceptions. We’ll tell you all you need to know about complying with these new rules when accounting for leases of all types. What is ASC 842 for nonprofit lease accounting?