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

SEPTEMBER 22, 2022

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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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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The Charity CFO

SEPTEMBER 20, 2023

No matter what corner of the nonprofit world you find yourself in, every organization has one thing in common – the need for nonprofit operating reserves. While it may sound complex, it’s a vital part of the financial picture for nonprofit leaders to consider. What is a Nonprofit Operating Reserve?

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The Charity CFO

SEPTEMBER 2, 2022

Not surprisingly, this above-average employee turnover impacted nearly every industry, but it has hit nonprofits and financial professionals particularly hard. . However, nonprofit accountant turnover is not a new problem in the sector. Why Do Nonprofit Accountants Quit? Why Do Nonprofit Accountants Quit? Low salaries.

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Centage

NOVEMBER 27, 2023

As businesses, nonprofits have a unique set of needs and challenges. Budgeting and financial forecasting are two of the most important business activities for nonprofit FP&A. There are innovative ways to solve the five biggest challenges to financial planning faced by nonprofits today.

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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. Ready to dive deep into this exciting realm?

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The Charity CFO

AUGUST 2, 2023

Welcome to the Modern Nonprofit Podcast! Sarah is a seasoned leader in the nonprofit sector, leverages over 18 years of experience to guide organizations towards success. As the CEO and Founder of PivotGround , Olivieri implements her innovative Impact Method™ to simplify operations, create aligned teams, and increase impact.

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The Charity CFO

APRIL 12, 2022

Cash flow isn’t just an issue for small nonprofits that depend on donations to meet payroll each month. A lack of cash on hand impacts nonprofit organizations of all sizes. A few years ago, we were working with a fully-funded nonprofit. . Their budget projected a surplus, and they were hitting those numbers.

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The Charity CFO

DECEMBER 7, 2023

Welcome back to the Modern Nonprofit Podcast at The Charity CFO. Whether you are a consistent listener or joining for your first time, the podcast dives deep into the world of nonprofits, and sometimes for profit spaces to share industry specific principles, unique business practices, and much more. Based out of St.

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The Charity CFO

NOVEMBER 17, 2022

Financial planning and budgeting are vital for the success and sustainability of any nonprofit organization. . That’s why it’s important to start thinking about your budget for 2023 now. Budgeting should go beyond simply tracking money in and money out. . Intro to Budgets for Nonprofits.

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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. increase in charitable giving in 2022. The time for change is now. No formulas.

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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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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

AUGUST 21, 2023

Nonprofit communications can be complicated, and sometimes awkward. The secret comes down to how well nonprofit leaders understand what donors are thinking and feeling and how charities communicate with them. Think about an operating reserve as a sort of savings account and safety net for the nonprofit.

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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. Without a good grasp of your finances, your nonprofit risks: Exposure to fraud. So, how can you guarantee that your organization is not exposed to any of these risks? Nonprofit fiscal policy.

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The Charity CFO

JULY 14, 2022

A lot of nonprofit leaders are asking us about how to prepare their organizations for the possibility of a recession. 6 Steps to Recession-Proof Your Nonprofit. 6 Steps to Recession-Proof Your Nonprofit. As in, how much of your much-needed cash are you tying up in debt payments every month? Assess Your Cash Flow.

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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. Let’s take a closer look at how and when it’s best used. These include both under- and overstaffing. In other cases, it may not be up to your organization.

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Centage

NOVEMBER 3, 2022

We offer a comprehensive range of services and business management solutions that create meaningful experiences for their customers. & Caribbean Operations. Where is your organization located and how many people do you employ? How long have you been a Centage partner? Our partnership started over 5 years ago.

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The Charity CFO

MARCH 23, 2023

Nonprofit accounting financial statements may seem like a chore. Nonprofits use financial statements to comply with IRS regulations, build trust with donors, and plan for the future. You may think that nonprofit financial statements are the same as those at for-profit companies, but this is not the case.

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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

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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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. Additionally, determine how you will attract potential candidates. It can be overwhelming.

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The Charity CFO

MARCH 20, 2023

How to grow your nonprofit is, after all, the key to strengthening your work, achieving your mission, and making an impact. Strategy decisions ultimately come down to being able to continually operate your programs and execute on your goals. There is a prevailing idea that marketing doesn’t make money in the nonprofit world.

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Centage

FEBRUARY 2, 2023

Businesses talk a lot about budgets, revenue projections, and actuals. With less cash to count on, knowing your cash flow position has never been more important: how much is really in the bank, how much is available on short notice, what revenues are coming in and when, and what resources are going out. It isn’t your revenue.

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The Charity CFO

JANUARY 5, 2022

Nonprofit leaders often struggle to create an open, trusting culture that supports their staff in executing their mission. If you’re looking for proven ways to engage your team and improve the mindset of your nonprofit team, this episode is for you. What too many nonprofit leaders do to lose the trust of their staff (18:00).

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The Charity CFO

APRIL 8, 2022

Starting a nonprofit organization can be confusing and tricky, especially if it’s your first time and you don’t have any experience filling out a 501c(3) application. However, filling out the application is an essential step in setting up a nonprofit charity with the full benefits of tax-exempt status.

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PYMNTS

JANUARY 9, 2019

Build or buy — or how about buy, then build? million deal closed at the end of last year, and is the second transaction in two months for Paya, which said in November that it bought Stewardship Technology , a payments facilitator (payFAC) that serves nonprofits and faith-based organizations.

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PYMNTS

FEBRUARY 28, 2020

percent of the former said they would not leave their CUs for other FIs even if offered the same financial services — an indicator of how important trust is in influencing members’ decisions. It also revealed that 60.8 Failing to prevent a data breach is a surefire way to lose that trust, however. Data Breaches Within And Without.

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PYMNTS

JUNE 10, 2017

But the somewhat disappointing other side of that vacation coin is that family vacation budgets, worldwide, will be down even though the number of Americans planning to take a family vacation this summer is up over last year. “The travelers are dropping their budgets by 20 percent to an average to $2,679…. By The Numbers.

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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? The basic accounting principles for nonprofit organizations are the same as accounting for for-profit companies. .

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The Charity CFO

FEBRUARY 17, 2022

Why does your nonprofit need an operating reserve? . A report released last year by Candid and the Center for Disaster Philanthropy estimated the worst-case scenario would lead to the closure of 38% of nonprofits in the United States. What is a nonprofit operating reserve? . Revenue sources: .

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Centage

MAY 8, 2023

Lowe, CPA, CGMA As a nonprofit finance leader, you are accountable to many stakeholders – especially your Board of Directors. Your role is critical and complex as you know and understand the financial operations of your organization inside and out – and are ultimately responsible.

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The Charity CFO

APRIL 5, 2022

But that’s not quite true—nonprofits face a decision between 2 different accounting methods for tracking their financial activity: cash accounting vs. accrual accounting. Is your nonprofit required to use accrual accounting? So which accounting method is right for you? Cash vs. Accrual Accounting: What’s the difference?

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The Charity CFO

APRIL 25, 2024

For nonprofit organizations, accounting comes with a lot of complexity. In this case study, we’ll explore real stories of nonprofits who have transformed their organizations by using technology to streamline their financial infrastructure. Let’s meet these organizations. About Vermont Adult Learning Joe Przyperhart, M.S.

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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. Form 990-N.

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The Charity CFO

JANUARY 12, 2022

How do you grow your mission without chasing the money? Are you a nonprofit leader struggling with how prioritize revenue to avoid the trap of money becoming the mission? Curious about how you can be sure a new revenue stream is a great fit for your organization? For more nonprofit accounting resources check out [link].

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