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. Closer to 90 is ideal. Why should you use this KPI?

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Nonprofit Budgeting CFO Financial Analysis 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

MAY 31, 2024

Efficient bookkeeping is essential to the success and sustainability of any nonprofit. As a nonprofit leader, it can be difficult to give your bookkeeping the time it needs to stay accurate. The rise in modern nonprofit accounting software and tech tools is making it easier than ever for nonprofit leaders to manage their finances.

Nonprofit 52

Nonprofit Technology Auditing Profit and Loss 52

The Charity CFO

APRIL 1, 2024

Implementing technology into your nonprofit accounting process can help solve a variety of issues—from tracking receipts to properly recording donations. In most cases, technology helps improve the efficiency and accuracy of nonprofit accounting. Nonprofits are subject to a lot of legal and financial scrutiny.

Nonprofit 52

Nonprofit Accounting CFO Accounts Payable 52

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.

Nonprofit 52

Nonprofit Accounting Budgeting GAAP 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.

Nonprofit 52

Nonprofit Accounting Profit and Loss Budgeting 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.

Nonprofit 52

Nonprofit Finance Strategic Planning Budgeting 52

The Charity CFO

MARCH 27, 2024

As a nonprofit leader, you’ve probably heard of QuickBooks or may have even used it before. And you might be wondering if you can use QuickBooks for your nonprofit accounting. The answer is yes, QuickBooks Online can be configured for nonprofit use. Nonprofits also need to record expense receipts.

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Nonprofit Accounts Payable Compliance Invoicing 40

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

PYMNTS

APRIL 12, 2016

Nonprofits can face greater pressure than their for-profit peers when it comes to compliance. Making sure the books add up properly is key to keeping their legal nonprofit status, and that means cash management is paramount. Nonprofits are well-positioned to benefit from virtual credit cards,” the report concluded.

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Nonprofit Accounts Payable Reconciliations Cash Management 40

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. Instead, accounting software prioritizes accuracy, standardization, and regulatory compliance.

Accounting 52

Accounting GAAP Nonprofit Accounting Principles 52

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.

CFO 52

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.

Communication 52

Communication Accounting Nonprofit Budgeting 52

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?

Finance 52

Finance Nonprofit Communication Budgeting 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. That’s where advisory finance committees come in.

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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

PYMNTS

MARCH 7, 2017

Three broad areas of special interest to the bureau were discussed – encouraging consumer-friendly innovations, the issue of consumer control over their personal financial data and the benefits and risks of using unconventional sources of data to underwrite loans and provide access to credit to more consumers.

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Nonprofit Compliance Financial Data Startups 49