The Charity CFO

JANUARY 31, 2022

The Statement of Activities is the Income Statement of a nonprofit organization. You may also know it as a profit and loss statement or income and expense report. In the for-profit world, they call the difference between revenues and expenses net income. Or profit. . It shows you the “profit” of your nonprofit.

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The Charity CFO

MARCH 24, 2022

Nonprofit fraud makes for great headlines— like the Minnesota nonprofit Feeding Our Future accused this year of squandering $48 million of federal funding on luxurious trips, fancy mansions, and other personal costs. . According to The New York Times , the value of nonprofit fraud is approximately $40-50 Billion each year.

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Nonprofit Profit and Loss Auditing Leadership 98

The Charity CFO

OCTOBER 9, 2023

In many ways, new nonprofits can figure things out as they go, learning from their mistakes and making adjustments. However, that’s not the case with an organization’s accounting systems. Let’s take a closer look at nonprofit accounting systems, the most frequent mistakes, and how to avoid trouble down the road.

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The Charity CFO

DECEMBER 27, 2023

As a small nonprofit, it can be difficult to determine what benefits mean the most to your employees, especially if you’re working within a strict budget. This nonprofit employee benefits guide goes through the most common types of benefits and how you can add them to your benefits offerings.

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Nonprofit Budgeting Profit and Loss Transportation 52

The Charity CFO

JANUARY 26, 2023

Nonprofit leaders have an especially hard time understanding, preparing and filing their returns. You see, a 501 nonprofit corporation is recognized as tax-exempt by the IRS but this doesn’t mean they are exempt from filing taxes. Fortunately, filing taxes for a nonprofit doesn’t need to be stressful.

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Nonprofit Accounting Principles Profit and Loss Auditing 52

CFO News Room

NOVEMBER 16, 2022

Thanks above all to the pioneering and in-depth work of Eileen Appelbaum and Rosemary Batt, the press, Congresscritters, and the victimized general public have gotten an idea of how private equity’s exploitation of the many chokepoints in health care has enabled them to profit greatly to our collective detriment.

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CFO News Room

JANUARY 19, 2023

These protections help safeguard investors’ funds and securities in the event of a brokerage firm’s failure or other financial losses. It is a nonprofit corporation that provides protection to investors against theft, fraud, and other errors by their broker-dealers such as misappropriation of funds or securities.

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The Charity CFO

JANUARY 17, 2022

If you’re like most nonprofit leaders, you’re not researching nonprofit accounting basics to satisfy your curiosity. with this overview of nonprofit accounting basics. . What is nonprofit accounting? That’s really all that accounting is, so don’t let the terminology intimidate you. .

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Nonprofit Accounting Profit and Loss Accounts Payable 98

Centage

FEBRUARY 2, 2023

The projections are pulled from the profit and loss and balance sheets and balance sheet items, like purchases or depreciation, are added or subtracted. Important Elements of Cash Flow Forecasting Even profitable businesses can be hurt if they don’t have the cash flow to support day to day operations.

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Cash Flow Forecasting Forecasting Financial Planning and Analysis (FP&A) Budgeting 98

The Charity CFO

FEBRUARY 25, 2022

If you’re brand new to nonprofit accounting, the Chart of Accounts might be the best place to start. Because even if you only have one bank account, bill, investment, or expense, you’ll need one. What is a Chart of Accounts? How to Organize a Nonprofit Chart of Accounts . 1000: Assets.

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The Charity CFO

APRIL 15, 2022

During the “Great Recession,” nonprofits have lost their accountants and financial directors at record rates. At the same time, hundreds of nonprofits are waking up to realize that the financial structure they’ve always relied on doesn’t work as well any more. So why do accountants leave nonprofit organizations?

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The Charity CFO

JANUARY 19, 2023

Accounting standards for nonprofits are probably not the first thing you think about, but are crucial for your organization to succeed. Nonprofit organizations distinguish themselves from for-profit entities through their purpose and mission.

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Accounting Standards Nonprofit Accounting GAAP 52

The Charity CFO

FEBRUARY 2, 2022

Every tax exempt nonprofit must file IRS Form 990 (Return of Organization Exempt from Income Tax) every year. That’s right, your nonprofit needs to file an IRS return. In fact, as a nonprofit organization, the expectations for transparency and accountability are higher than those for for-profit businesses.

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CFO News Room

NOVEMBER 22, 2022

Michael: So, it sounds like part of the challenge was, you live in a large company environment where, as is common for a lot of them, they organized study groups of top advisors, of top producers, of those that are doing well and growing well, and driving the business profitably. In fact, we probably would have been much more profitable.

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CFO News Room

DECEMBER 13, 2022

Terry is the CFO and Co-Founder of Innovative Wealth Building, an independent RIA based in California, Maryland that oversees nearly $330 million in assets under management for almost 900 client households. He’s a loss leader.” I mean, I got a plethora of awards, and by all accounts, I was on a meteoric rise to the top.

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