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Nonprofit Related Topics 
Capital CFO LLC
AUGUST 15, 2022
The growing need for a nonprofit grant consultant is more clear than ever as nonprofits rely heavily on securing grants to fund the programs and initiatives that serve our communities. […]. The post Benefits of a Nonprofit Grant Consultant appeared first on Capital CFO+.
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. .
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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?
The Charity CFO
SEPTEMBER 27, 2022
If you manage a nonprofit, you know very well that every day there are a million and one things to be done. But it’s often seen as “busywork,” it rarely makes the priority list, and under-staffed nonprofit teams often fall behind. Top Nonprofit Bookkeeping Tips.
CFO News Room
SEPTEMBER 21, 2022
Nonprofits also come in various sizes, from those with thousands of employees to those with one or even no employees. . While many herald local governments and business proprietorships, few people appreciate nano nonprofits and many disparage them for being ineffective or inefficient.
The Charity CFO
JULY 10, 2022
Are your nonprofit board committees contributing to the effectiveness of your work or simply checking off the boxes someone gave you when your organization was set up years ago? Nonprofit board committees can have an outsized and positive impact on your organization’s overall mission.
The Charity CFO
JANUARY 21, 2022
Nonprofits often receive donations or grants designated for a specific purpose–like a donation to a specific program or grant you have to spend within a calendar year. We’re going to focus specifically on how it’s applied to small and mid-sized nonprofits and charities.
CFO News Room
MAY 26, 2022
The defining factor between a nonprofit and for-profit organization boils down to IRS code 501(c) , which excuses nonprofits from federal tax liability. Organizations and companies must evaluate the tradeoffs of becoming a tax-exempt nonprofit or a for-profit business.
The Charity CFO
APRIL 29, 2022
Many nonprofit organizations both large and small need to undergo a financial statement audit every year. Preparing for a nonprofit audit can be overwhelming and anxiety-filled, especially if it’s your first audit or you don’t have a strong and experienced financial team.
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. Accounting Expenses Nonprofit Reporting
The Charity CFO
JULY 28, 2022
Updated standards on accounting for nonprofit leases ( ASC 842 ) go into effect this year for most organizations–and next year for the few remaining exceptions. What is ASC 842 for nonprofit lease accounting? Final Thoughts on accounting for nonprofit leases.
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The Charity CFO
AUGUST 31, 2022
In this episode, Tosha will walk you through the most common misconceptions about nonprofit audits to let you know exactly what you can expect (and NOT expect) from a nonprofit audit before you commit. Audits scare the daylights out of nonprofit founders.
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?
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. Don't hire the wrong accountant for your nonprofit!
The Charity CFO
MARCH 3, 2022
Nonprofits are not run to make money. million nonprofits are registered with the IRS. One-quarter of American adults volunteer with a nonprofit, helping their community on a number of issues. You will make a difference as soon as you start a nonprofit.
The Charity CFO
AUGUST 24, 2022
Managing a nonprofit’s finances is not a one-person job. The high-performing organizations we work with all ensure that nonprofit financial management is a collaborative effort. Effective nonprofit financial management is a team effort!
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. . How Can You Avoid Corruption In Your Nonprofit? ??
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. Because no business–including nonprofit businesses– can operate successfully without knowing their numbers. .
CFO News Room
MARCH 25, 2022
A 501(c)(3) nonprofit corporation is a type of charitable organization that the Internal Revenue Service (IRS) recognizes as tax exempt. A nonprofit corporation does not pay income tax on its earnings or the donations it receives. Maintain Your Nonprofit Status.
CFO Selections
SEPTEMBER 29, 2022
Is your organization positioned to navigate the unique strategic and financial challenges inherent in nonprofit settings? As a nonprofit leader, do you need more financial expertise but don’t know if you can afford it?
The Charity CFO
FEBRUARY 9, 2022
And you’re certainly not sure why your nonprofit should care about it. And crypto donations to nonprofits grew over 2200% to $300 million over the past 2 years. Cryptocurrency becomes a bigger force for good in the nonprofit sector year after year.
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. But the term “nonprofit” itself can be misleading.
The Charity CFO
MAY 20, 2022
As a nonprofit Executive Director, the amount of time you invest with your board of directors can vary wildly depending on your organizational culture and the time of year. But make no mistake: Nonprofit board development is critical to your success.
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. Why do nonprofits need to file Form 990? Simple e-postcard for nonprofits earning less than $50,000/year.
The Charity CFO
JANUARY 31, 2022
The Statement of Activities is the Income Statement of a nonprofit organization. As a nonprofit, you call the difference between revenue and expenses the change in net assets. . It shows you the “profit” of your nonprofit. Don't hire the wrong accountant for your nonprofit!
The Charity CFO
DECEMBER 21, 2021
Many nonprofit founders think that they won’t have to worry about taxes. So if you’re new to nonprofit accounting , you shouldn’t make too many assumptions about which taxes you will (or won’t) have to pay. . Do nonprofits pay income tax? Do nonprofits pay sales tax?
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? .
The Charity CFO
AUGUST 30, 2022
ASC 606 Revenue Recognition for Nonprofit Organizations. All US businesses, for-profit and nonprofit, were subject to new revenue recognition standards starting by 2019. ASC 606 is often confused with ASC 958 (which addresses nonprofit entities’ financial statements).
The Charity CFO
JANUARY 25, 2022
The Statement of Financial Position is the Balance Sheet of a nonprofit organization. It gives you a snapshot of a nonprofit’s financial health at a point in time by displaying what the organization owns (assets), what it owes to others (liabilities), and its value (net assets).
Capital CFO LLC
AUGUST 27, 2020
Nonprofit organizations are struggling, and it is as simple as that. According to a recent article by Nonprofit Quarterly, … many organizations, […]. The post Nonprofit organizations face challenges. The financial and staffing challenges often seem insurmountable.
The Charity CFO
JUNE 10, 2022
Your finance committee spends the most time analyzing and studying your nonprofit’s numbers, yet your entire board of directors is responsible for financial oversight. All board members are responsible for the financial health of a nonprofit organization.
The Charity CFO
JANUARY 5, 2022
Functional expense reporting confuses many first-time nonprofit bookkeepers and executives. But it is need-to-know-information in the nonprofit world. Because you’re required to report functional expenses to complete your IRS 990 and maintain nonprofit status.
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? Accurate Budgeting for Your Nonprofit.
The Charity CFO
SEPTEMBER 7, 2022
In this episode, Tosha will walk you through the most common misconceptions about nonprofit audits to let you know exactly what you can expect (and NOT expect) from a nonprofit audit before you commit. Audits scare the daylights out of nonprofit founders.
Capital CFO LLC
MAY 7, 2021
No matter what type of nonprofit you manage, your staff is the backbone of the organization. The post Why You Should Invest in Staff Development for Your Nonprofit appeared first on Capital CFO. Nonprofit Consulting Nonprofits Recruitment Staffing Staff Development
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