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.

Nonprofit 52

Nonprofit Accounting Firms Accounting Auditing 52

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. What is the actual goal in a nonprofit accounting setup? Let’s meet these organizations.

Nonprofit 52

Nonprofit Accounting CFO Auditing 52

Nerd's Eye View

JANUARY 27, 2023

Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that CFP Board announced this week that it is splitting into two separate organizations with the same leadership but different nonprofit statuses.

Nonprofit 77

Nonprofit Practice Management Advertising Leadership 77

Centage

FEBRUARY 2, 2023

However, one of the most important planning tools for a business of any size is cash flow forecasting – and it’s especially important in times of uncertainty. Knowing the timing, amount and predictability of future cash flows with cash flow forecasting should be an essential component of the budgeting and planning process.

Cash Flow Forecasting 98

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

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.

Nonprofit 52

Nonprofit Leverage Budgeting Analyzing Data 52

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. Collaboration issues. Tax issues and non-compliance with regulatory requirements. Nonprofit fiscal policy.

Nonprofit 52

Nonprofit GAAP Budgeting Auditing 52

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. Another difference is in fund accounting.

Accounting Standards 52

Accounting Standards Nonprofit Accounting GAAP 52

VCFO

JUNE 29, 2023

Restoring and Ensuring Effective Nonprofit Finance Practices Decades ago, healthcare trailblazer Sister Irene Kraus moved her mantra of “No Margin. And when shortcomings and lapses in those crucial cornerstones persist in a nonprofit, so too do risks to the organization and those they serve. No Mission.” into the limelight.

Nonprofit 69

Nonprofit Finance CFO Compliance 69

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.

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) Nonprofit Budgeting GAAP 52

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.

Nonprofit 40

Nonprofit Budgeting Forecasting Planning 40

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. What is a Grant?

Accounting 52

Accounting Nonprofit Auditing Compliance 52

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. increase in charitable giving in 2022.

Financial Planning and Analysis (FP&A) 72

Financial Planning and Analysis (FP&A) Nonprofit Planning Finance 72

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.

Nonprofit 98

Nonprofit Auditing Reconciliations Accounting 98

PYMNTS

APRIL 7, 2020

This collaboration provides small businesses with all of these benefits, as well as a practical cash flow management tool.”. As reported in September, consumer and commercial cards issued in the United States brought in $6.13 trillion in spending for goods and services in 2018. Commercial card spending is up 11.7

Nonprofit 58

Nonprofit Invoicing Finance Accounting 58

PYMNTS

AUGUST 24, 2020

eBay reduced its rate of customer attrition by 67 percent simply by supporting nonprofits. The Nonprofit Effect. Partnering with a nonprofit can reap benefits, as consumers seek out companies that support socially responsible causes and are more willing to buy their products over those of peer companies.

Sales 57

Sales Nonprofit Retail eCommerce 57

PYMNTS

DECEMBER 4, 2019

Instead of using traditional credit scores, lenders can look at alternative data like borrowers’ cash flow. According to the nonprofit research firm FinRegLab , approximately 45-60 million people lack the payments history to generate reliable credit scores.

Nonprofit 54

Nonprofit Education Banking Finance 54

PYMNTS

JANUARY 21, 2020

Healthcare providers must carefully safeguard their cash flows to operate, but many face hurdles to getting fully compensated for provided services. One key intervention focuses on strategically filing claims to maximize approval odds, which can smooth healthcare providers’ cash flows.

Healthcare 52

Healthcare B2B Nonprofit Planning 52

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). Financial Planning for NPOs Financial planning for nonprofits entails optimizing your activities by meticulously managing all aspects of your finances.

Planning 52

Planning Auditing Nonprofit Accounts Payable 52

PYMNTS

DECEMBER 5, 2019

Ingvoldstad highlighted top hurdles in employee spending, pointing to the “inconvenience” professionals face when employees are forced to use their personal cash and cards to make payments while on the clock, only to wait weeks for reimbursement. Many of those pain points are, by now, well-known in the B2B payments space.

Accounts Payable 52

Accounts Payable B2B Problem Solving Nonprofit 52

The Charity CFO

MARCH 30, 2022

When a founder plays a significant role in building and running a nonprofit, it’s easy for people to think that the founder “is” the nonprofit. Now she helps counsel nonprofit leaders on how to make their transition successful. For more nonprofit accounting resources check out [link]. A Modern Nonprofit Podcast.

Nonprofit 52

Nonprofit Leadership Planning Strategic Planning 52

PYMNTS

APRIL 28, 2020

based nonprofit organizations the ability to access its Basic plan for free for up to six months, a product set that includes integrations with messaging solutions like Slack and accounting company QuickBooks as well as access to its billing portal. Co mpanies like digital invoicing firm Invoiced are responding to SMBs’ COVID-19 struggles.

Invoicing 94

Invoicing B2C B2B Accounts Payable 94

PYMNTS

MARCH 16, 2020

Advance notice, the retailers’ groups say, will help merchants prepare for potential panic-buying and enable stores to scope out supply chain issues. “We The commitment will be distributed between the foundation’s nonprofit partners, Feeding America and No Kid Hungry.

Nonprofit 56

Nonprofit Retail Planning Banking 56

Centage

OCTOBER 3, 2022

Distribution Issues Distributing your individual Excel spreadsheets can be another hurdle. Losses of historical data could lead to issues with comparisons and data analysis, which makes it harder to spot trends. The multi-dimensional model could also be challenging to envision, which may lead to errors and oversights.

Forecasting 98

Forecasting Budgeting Data Analysis Financial Modeling 98

PYMNTS

APRIL 30, 2019

However, large financial institutions (FIs) and personal financial advisors typically don’t want to offer services like accounts payable to this customer segment, she noted, due to liability issues. ” Cash flow visibility is also a critical component of family office financial management.

Corporate Finance 61

Corporate Finance Accounts Payable Finance Invoicing 61

PYMNTS

JUNE 7, 2016

There was an incident in 2013 in which nonprofit firm MusicBrainz sent a cake — yes, the edible dessert — to Amazon’s finance department to satirically celebrate the three-year mark of an unpaid invoice. Only this time, vendors are taking a less tongue-in-cheek — and far more direct — approach to tackling the issue.

Accounts Payable 43

Accounts Payable Invoicing Nonprofit Communication 43

Centage

OCTOBER 3, 2022

Distribution Issues. Losses of historical data could lead to issues with comparisons and data analysis, which makes it harder to spot trends. You may overlook these mistakes or spend hours consolidating the spreadsheet and resolving the issues, adding significantly more time to your budgeting cycle.

Forecasting 52

Forecasting Budgeting Data Analysis Financial Modeling 52

PYMNTS

JUNE 6, 2016

New data on the struggles facing small business borrowers — from frustration surrounding the rejection of a bank loan to unexpected, sky-high APRs linked to alternative financing — means banks have a long way to go to fill in the gaps for entrepreneurs when it comes to their cash management, payments and expansion needs.

Banking 41

Banking Finance Cash Management Invoicing 41

CFO News Room

NOVEMBER 30, 2022

Almost every financial planning issue – whether it is retirement, investments, cash flow, insurance, or estate planning – has tax considerations, and advisors provide a great deal of value in helping clients minimize their overall tax burden. Executive Summary. Taxes are a central component of financial planning.

Tax Planning 130

Tax Planning Compliance Planning Communication 130

CFO News Room

NOVEMBER 22, 2022

So, we realized that issue, and we didn’t want anyone…we didn’t want our biggest clients paying the way for young…our smallest clients to have similar amount of advice. Michael: So, talk to us how growth has evolved and flowed. Then you still had a flow of insurance business as well. We have the ACHs?

Planning 130

Planning Communication Profit and Loss Education 130

Barry Ritholtz

AUGUST 29, 2022

BALCHUNAS: Or a coop almost, yeah, or a nonprofit. Now, the Vanguard effect is everybody is saying, oh, they’re getting all these flows. The problem is, overall, Vanguard still leads in flows every year …. The only thing that can actually grow your assets or stop the asset loss is flows. BALCHUNAS: Yes. It’s unique.

Profit and Loss 64

Profit and Loss Marketing Investments Benchmarking 64

Barry Ritholtz

APRIL 11, 2023

DAMODARAN: Forty years ago, 95 percent of cash returned by companies took the form of dividends. In 1981, when I started, dividends were the way to go for returned cash. Last year, 67 percent of all cash returned by companies took the form of buybacks. RITHOLTZ: I’m curious as to what your answer is. RITHOLTZ: Right.

Valuation 114

Valuation Education Finance Investments 114

Barry Ritholtz

AUGUST 23, 2022

And if that situation in Poland had gotten my juices flowing, my God, this is even crazier. But if you look at the financials, they were nonprofit. You would already essentially wound down operations, removed everybody except for one secretary and gotten all of the cash out of Russia. And so then I went to Moscow.

Investments 124

Investments Math Banking Profit and Loss 124