The Charity CFO

MARCH 22, 2024

How does your nonprofit make strategic decisions? Additionally, leaders can use data to tell the story of their organizations, giving you a better overall picture of the state of your nonprofit. Learn more about using data for decision-making in your nonprofit in this complete guide. What Does Nonprofit Data Look Like?

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The Charity CFO

OCTOBER 4, 2022

million nonprofits globally. To ensure that a nonprofit runs efficiently, several people work behind the scenes to make things much easier, and one of those people is the operations manager. The operations manager might be the secret weapon of the most successful nonprofits we know. There are more than 1.54

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Centage

NOVEMBER 8, 2023

Building and maintaining an effective budget is daunting no matter what industry you’re in — but financial planning for nonprofits is especially tough. The specific circumstances of how nonprofits operate and get funded adds a layer of complexity to their FP&A processes. No programming. No formulas.

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The Charity CFO

APRIL 13, 2023

Nonprofit financial management is one of the primary concerns for organizations. Nonprofits are special types of organizations, in both their structure and their purpose. This meaning is the driving force behind what nonprofit organizations do day in and day out. Compliance requirements vary by state and funding sources.

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The Charity CFO

MAY 19, 2023

Cash management for a nonprofit organization is possibly the most important consideration for success. In a previous article, we discussed the benefits, risks, and compliance requirements of outsourcing bookkeeping for nonprofit organizations. This supports informed decisions about spending, budgeting, and resource allocation.

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The Charity CFO

AUGUST 15, 2023

The nonprofit sector is full of rewarding and impactful careers because it plays a crucial role in addressing various social, environmental, and humanitarian challenges. In this section, we will debunk the three most common nonprofit accounting myths. However, most of it is actually the same. However, most of it is actually the same.

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The Charity CFO

MAY 31, 2022

It’s a myth that all stakeholders need to be experts in every aspect of nonprofit finances. Even on nonprofit financial committees, some members may be skilled in accounting, others in banking, and others in investing or financial analysis. Because the basics of nonprofit finances are easy to grasp. .

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The Charity CFO

FEBRUARY 4, 2022

Do a Google search on nonprofit bookkeeping, and you’ll find page after page of articles on nonprofit accounting. Because while nonprofit bookkeeping and accounting are related, they’re not the same thing. A bookkeeper records and organizes financial data; an accountant interprets and presents that data. .

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The Charity CFO

NOVEMBER 8, 2023

But it’s often not the case at many charities and nonprofits, which can gauge an employee’s value by their impact, not just their hours spent in the office. Both of these are vital to operating in the most efficient way possible, allowing the most funding and effort to go toward the nonprofit’s mission.

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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. Get the free guide!

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The Charity CFO

JUNE 7, 2023

Nonprofit financial statements. Is this just a necessary evil just to meet compliance requirements , and make sure there’s enough cash in the bank? Or can your financial statements be a lens to view your organization and fuel the mission?

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The Charity CFO

FEBRUARY 27, 2023

Does your organization get bogged down with nonprofit treasurer duties? Nonprofits don’t exist for the purpose of earning profits. With that being said, money is central to a nonprofit’s success. How does a nonprofit manage its money? One of the most important board members for a nonprofit is the treasurer.

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The Charity CFO

MAY 11, 2023

Bookkeeping is a critical component of running a successful nonprofit organization. It involves the management of financial transactions and the maintenance of accurate records to ensure that your organization remains financially healthy and compliant with the law.

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The Charity CFO

JANUARY 5, 2023

Many nonprofit organizations tend to let their financial management slip on the backburner as they get busy fulfilling their mission. Maintaining healthy financial management is critical for the organization’s sustainability, stability, and flexibility, now and in the future. Poor financial reporting.

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The Charity CFO

SEPTEMBER 14, 2022

If you know only one thing about 501(c)(3) nonprofit organizations , you probably know that they don’t pay federal taxes on their income. . So how do you know if your nonprofit organization has taxable unrelated business income? Not Sure If Your Nonprofit Income Is Taxable Or Not? But what if I told you that’s not always true?

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The Charity CFO

DECEMBER 30, 2021

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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The Charity CFO

APRIL 19, 2022

As a CPA working exclusively with nonprofits and a former nonprofit auditor, I’ve looked at thousands of nonprofit financial statements over the past 10 years. Over the years, I’ve identified a set of 5 nonprofit financial red flags that are fairly common and almost always lead to trouble sooner or later.

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The Charity CFO

NOVEMBER 10, 2022

What should you look for when evaluating nonprofit accounting services? Nonprofit organizations exist to further a mission or goal. The truth is, many nonprofits tend to fumble when it comes to their books. . Sound financial management helps avoid jeopardizing tax-exempt status and the success of your operation. .

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The Charity CFO

JUNE 19, 2023

If your nonprofit is growing, you have a lot on your plate. But one of the most underrated things you can do to make life easier and improve your future prospects is to work with a nonprofit financial advisor. Read on as we explore more about this crucial role and how it can help your nonprofit.

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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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Collectiv

JUNE 13, 2023

Nonprofit organizations are essential for our communities, yet they’re often underfunded. Solid processes around nonprofit data give you critical information to highlight unique aspects of your organization, boost morale, increase credibility, enhance transparency, and build community awareness to support your mission.

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The Charity CFO

NOVEMBER 23, 2022

The finance director role is critical to the success of any nonprofit, making it one of the most important hires an organization can make. They are responsible for the financial health of the organization. They create and maintain financial records, prepare financial reports, and oversee the organization’s budget.

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Centage

NOVEMBER 22, 2021

Building and managing an effective budget and plan can be daunting no matter what industry, but financial planning for nonprofits can be particularly difficult. And while no industry was spared in the wake of the pandemic, nonprofits were hit hard. Nonprofit budgeting software also easily enables driver-based budgeting.

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The Charity CFO

FEBRUARY 8, 2024

Does the idea of a financial audit on your nonprofit leave you feeling nervous? For many nonprofits, a full financial audit can help ensure the accuracy of their financial recordkeeping. Luckily, not all financial situations require an audit. However, it can also feel invasive and overwhelming.

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The Charity CFO

JULY 24, 2023

When hiring your first employee at a growing nonprofit, it is crucial to understand the essential steps to hiring. Understand your budget and resources to ensure you can sustain the new hire long-term. Before making a final decision, conduct background checks, call references, and ensure compliance with all legal requirements.

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The Charity CFO

DECEMBER 8, 2022

Grants are the lifeblood of nonprofits, giving them the much-needed cash injection to market the organization, fund a project, or get an initiative off the ground. Having a full grant pipeline increases your nonprofit’s chances of success and improves your visibility and credibility. Develop strong financial reporting procedures.

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The Charity CFO

AUGUST 28, 2023

Running a successful nonprofit requires many diverse skill sets, from experts in your particular field to fundraising and event pros. Unfortunately, one area where many otherwise thriving nonprofits lack experience is financial and money issues. However, financially-minded folks are crucial for a variety of reasons.

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The Charity CFO

JUNE 7, 2023

A healthy nonprofit requires leadership, marketing, structure, and of course financial stability to make the impact it sets out to make. The financial piece of this is the mission of The Charity CFO. We give you expert bookkeeping and accounting support to help your nonprofit thrive.”

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The Finance Weekly

OCTOBER 31, 2021

Many of the same financial issues that profit-seeking enterprises face, such as increasing revenue, managing audits, and dealing with compliance, encounter non-profit organizations (NPOs). Many of the same issues that private-sector businesses face, such as raising revenue and managing budgets, apply.

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The Charity CFO

MAY 18, 2022

Financial oversight is one of the primary roles of your nonprofit board of directors. . Every nonprofit is required to have a board of directors. And they create a lot of confusion for people new to the nonprofit sector. What is Financial Oversight? Financial oversight refers to a broad range of responsibilities.

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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. So you can understand what’s happening in your business and communicate effectively with your board members, donors, and financial team. with this overview of nonprofit accounting basics. . And guess what?

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The Charity CFO

APRIL 25, 2024

For nonprofit organizations, accounting comes with a lot of complexity. Categorizing transactions, reporting income, and meeting compliance requirements can be overwhelming. About The Charity CFO The Charity CFO is an accounting firm specializing in serving nonprofits through outsourced accounting and fractional CFO services.

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The Charity CFO

APRIL 28, 2023

Is there an advantage to working with accounting firms specializing in nonprofits? Nonprofit organizations play a crucial role in addressing social, environmental, and cultural issues in our society. Grant Accounting Many nonprofit organizations rely on grants to fund their programs and services.

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The Charity CFO

MARCH 25, 2024

Grants can be an important source of funding for nonprofit organizations. Our tip: Try to seek out grants that come from agencies with similar missions to your organization and look for specific grants that align with your nonprofit goals. Grant writing can feel intimidating, especially if you’re just starting with seeking funding.

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The Charity CFO

NOVEMBER 2, 2023

But charities and nonprofits are focused on one of the most important days of their year – Giving Tuesday. Since it was first organized more than a decade ago, it’s become a significant part of the financial picture for many nonprofits, who look forward to a surge in donations related to the giving-focused event.

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The Charity CFO

MARCH 2, 2022

“I don’t know if my nonprofit’s accounting systems are bad… and I probably won’t know for sure until something bad happens.”. 99% of nonprofit founders we work with don’t have a background in finance. This week on A Modern Nonprofit Podcast we discuss common red flags you can check today to verify your organization’s financial health.

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