The Charity CFO

JUNE 26, 2023

Whether you’re a new organization or an established one working to get its finances under better control, there are few more important things to get right than your nonprofit operating budget. It serves as the backbone of your nonprofit’s spending, fundraising, and much more.

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Nonprofit Budgeting Benchmarking CFO 52

The Charity CFO

AUGUST 27, 2024

An organization’s Key Performance Indicators (KPIs) provide a clear measure of how well the nonprofit is maintaining financial health while working toward its mission. Many nonprofits must balance their goals with limited resources or strict compliance regulations. Unsure of which KPIs you should be tracking for your nonprofit?

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Nonprofit Budgeting CFO Financial Analysis 52

The Charity CFO

MARCH 28, 2024

Your nonprofit accounting system might not be the most exciting part of your organization, but it’s one of the most important aspects. An effective nonprofit accounting system also helps your organization stay transparent, manage funds wisely, and build trust with donors and the public.

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Nonprofit Accounting Budgeting Compliance 52

The Charity CFO

JULY 1, 2024

Choosing the right accounting services is crucial for the financial health of your nonprofit. The right nonprofit accountant helps your organization properly manage its finances, which improves trust and transparency with stakeholders and donors.

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The Charity CFO

JULY 12, 2024

While many nonprofits start with cash-basis accounting due to its simplicity, this method often falls short of providing a comprehensive view of a nonprofit’s financial health. Cash-basis accounting is most common for smaller nonprofits, where financials tend to be less complicated.

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Nonprofit Accounting Budgeting GAAP 52

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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Nonprofit Communication Accounting Auditing 52

The Charity CFO

MAY 31, 2024

Transparency and accountability are two of the most important factors in nonprofit accounting. Being transparent in your nonprofit accounting helps build trust in your organization. But what financial reports are most important to build that trust through transparency with your board of directors?

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Nonprofit Financial Reporting Budgeting CFO 52

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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Nonprofit Accounting Profit and Loss Budgeting 52

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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Nonprofit Compliance CFO Leadership 52

The Charity CFO

MARCH 22, 2024

How does your nonprofit make strategic decisions? A better way to make decisions is using data. Leveraging data for strategic decision-making has many benefits–from improving your efficiency to increasing the success rate of campaigns or strategies. What Does Nonprofit Data Look Like?

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Nonprofit Leadership Benchmarking Leverage 52

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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Nonprofit Finance Strategic Planning Budgeting 52

The Charity CFO

APRIL 2, 2024

Managing a nonprofit can be complex, especially when it comes to nonprofit accounting. Nonprofits face unique financial challenges and responsibilities that require specialized expertise and support. That’s why you need a strong accounting partner who specializes in nonprofits.

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Nonprofit Accounting Accounting Firms Communication 52

Collectiv

JUNE 13, 2023

Nonprofit organizations are essential for our communities, yet they’re often underfunded. Data analysis is a treasure trove for non-profits. Let’s look at three ways to leverage Power BI for nonprofits so you can use your data effectively. Build Trust in the Community Data is a powerful tool.

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Nonprofit Leverage Analyzing Data Budgeting 52

Centage

NOVEMBER 27, 2023

As businesses, nonprofits have a unique set of needs and challenges. Nowhere is that more apparent than in financial planning. Budgeting and financial forecasting are two of the most important business activities for nonprofit FP&A. What does the financial plan look like if donations suddenly drop?

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Nonprofit Budgeting Forecasting Planning 40

The Charity CFO

JULY 19, 2024

Common nonprofit bookkeeping tasks include: Recording donations Entering accounts payable and receivable Organizing and reviewing bank statements Maintaining the general ledger These everyday financial duties help bookkeepers provide a clear and up-to-date picture of the nonprofit’s financial status.

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CFO Accounting Nonprofit General Ledger 52

The Charity CFO

AUGUST 21, 2024

The relationship between fundraisers and accountants in a nonprofit organization can be challenging. Fundraising and accounting departments provide vital services to the organization, but when they fail to communicate, it can lead to financial errors. For a nonprofit to thrive, these two departments have to work together.

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Centage

OCTOBER 3, 2022

This accessible program can accomplish various tasks, such as financial forecasting and budgeting. If your business has used Excel for financial forecasting, you may have found some challenges with the program. With these spreadsheets, you can store, organize and analyze valuable data.

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The Charity CFO

JULY 29, 2024

Your committee might also lack the ability to accurately interpret financial data or reports, making the committee less effective overall. Consider providing financial committee members with financial training to improve their financial literacy. Need help with nonprofit finances?

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The Charity CFO

OCTOBER 9, 2024

Modern nonprofit leaders are always looking for ways to use technology to make everyday tasks easier. One of the most sought-after tools is a platform or software to integrate your fundraising and accounting data seamlessly. For nonprofits, GAAP ensures transparency, accuracy, and consistency in financial statements.

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Accounting GAAP Nonprofit Accounting Principles 52

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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Nonprofit Problem Solving Finance CFO 52

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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Auditing Nonprofit Compliance CFO 52

Centage

OCTOBER 3, 2022

This accessible program can accomplish various tasks, such as financial forecasting and budgeting. If your business has used Excel for financial forecasting, you may have found some challenges with the program. Why Businesses Use Spreadsheets for Financial Forecasting. Risk of Errors. Limited Visibility.

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Forecasting Budgeting Data Analysis Financial Modeling 52

CFO Plans

SEPTEMBER 24, 2024

These platforms offer real-time financial reporting, automated accounting services, and seamless integration with other business tools. With cloud-based solutions, small businesses can access their financial data from anywhere, at any time, ensuring they stay on top of their financial health.

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