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Attract & Retain Nonprofit Employees

VCFO

How Nonprofits Can Attract and Retain Talented Employees. Given this extremely competitive environment, what can nonprofits do to improve their ability to sufficiently staff and sustain their organizations? Providing growth opportunities at a nonprofit can seem challenging.

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Benefits of a Nonprofit Grant Consultant

Capital CFO LLC

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+.

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Nonprofit Board Committees In A Modern Nonprofit

The Charity CFO

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.

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Creating an Effective Board – Executive Director Relationship

Capital CFO LLC

Creating an effective Board – Executive Director relationship is critical to the success and strategic growth of a nonprofit organization. Nonprofit bookkeeping Nonprofit Consulting Nonprofits nonprofit Nonprofit consulting Nonprofit grant writing Nonprofit services nonprofits

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How To Avoid Nonprofit Accountant Turnover

The Charity CFO

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?

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The Basics of Nonprofit Bookkeeping

The Charity CFO

Do a Google search on nonprofit bookkeeping, and you’ll find page after page of articles on nonprofit accounting. Because while nonprofit bookkeeping and accounting are related, they’re not the same thing. What is nonprofit bookkeeping? .

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Understanding the Job of a Nonprofit Operations Manager

The Charity CFO

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.

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How Do Nonprofits Make Money?

The Charity CFO

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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How Companies Can Partner with Nonprofits

CFO News Room

In today’s ESG-focused world, there is no taboo about corporations seeking advice and partnership opportunities with nonprofits. What contact they have had with nonprofits has usually been through their corporate giving or corporate social responsibility programs.

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Fund Accounting for Nonprofits & Charities

The Charity CFO

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.

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The 5-Minute Guide to Nonprofit Finances

The Charity CFO

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

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6 Nonprofit Bookkeeping Tips to Save You Time & Money

The Charity CFO

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.

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Nonprofit Audit Checklist (+ Free PDF Download)

The Charity CFO

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.

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The 5 BIG Myths of Nonprofit Accounting

The Charity CFO

In this episode, A Modern Nonprofit Podcast host Tosha Anderson comes to you directly, to talk about the 5 biggest myths she’s encountered time and again while working with nonprofits. For more nonprofit accounting resources check out www.thecharitycfo.com.

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Nonprofit Tax Filing: 7 Steps to Peace of Mind

The Charity CFO

Nonprofit leaders have an especially hard time understanding, preparing and filing their returns. You see, a 501 nonprofit corporation is recognized as tax-exempt by the IRS but this doesn’t mean they are exempt from filing taxes. Most people dread filing taxes.

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A Beginner’s Guide to Nonprofit Budgeting

The Charity CFO

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.

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When Does Your Nonprofit Need an Audit?

The Charity CFO

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!

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Financial Statements Nonprofit: What You Really Need

The Charity CFO

As a nonprofit leader, your financial stewardship is important to remain compliant with the IRS. Not only that, these statements need to be sound and easy to understand so as to provide a window into the financial health of your nonprofit. Accounting Nonprofit Operations Reporting

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How to Comply with Accounting Standards for Nonprofits

The Charity CFO

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.

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New Rules For Nonprofit Lease Accounting: ASC 842 Explained

The Charity CFO

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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Nonprofit Accounting Services: The Right Solution

The Charity CFO

What should you look for when evaluating nonprofit accounting services? Nonprofit organizations exist to further a mission or goal. The truth is, many nonprofits tend to fumble when it comes to their books. . Benefits of Nonprofit Accounting Services.

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Revenue Recognition for Nonprofits: 4 Mistakes to Avoid

The Charity CFO

Revenue recognition for nonprofits may seem fairly straightforward, but has unique complexities with important compliance consequences. Nonprofits rely on a mix of sources for their income, from fundraising, grants, and investments to earned income and individual contributions.

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Budgets for Nonprofits: Get ready for 2023

The Charity CFO

Financial planning and budgeting are vital for the success and sustainability of any nonprofit organization. . A nonprofit budget helps your organization: Stay fiscally healthy. Intro to Budgets for Nonprofits. Budgets differ greatly between nonprofits and for-profits.

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Do Nonprofits Pay taxes? It’s Complicated.

The Charity CFO

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?

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3 Types of Nonprofit Fraud to Watch Out for Today

The Charity CFO

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? ??

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Understanding Unrelated Business Income in Nonprofits

The Charity CFO

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?

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Understanding Functional Expenses for Nonprofits

The Charity CFO

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.

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How to Set Up Your Nonprofit Organizational Chart

The Charity CFO

A nonprofit organizational chart is essential for the company’s success and growth. It provides an effective way to organize, plan, and manage resources within the nonprofit structure. So, what do you need to know and consider when setting up a nonprofit organizational chart?

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The Secret To Better Nonprofit Financial Management

The Charity CFO

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!

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Is Your Nonprofit Ready for Recession?

The Charity CFO

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. .

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Which IRS Form 990 Should Your Nonprofit File?

The Charity CFO

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.

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Statement of Financial Position: Reading a Nonprofit Balance Sheet

The Charity CFO

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).

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Mastering Nonprofit Cash Flow Projections

CFO Selections

Nonprofits, on the other hand, are not typically as “cash flow savvy.” For-profit companies understand the importance of cash flow projections because they are inextricably tied to their goal of generating ongoing revenue.

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Statement of Activities: Reading a Nonprofit Income Statement

The Charity CFO

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!

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The Truth About Nonprofit Audits

The Charity CFO

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.