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+.

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. .

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

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?

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.

Polycentric Voluntarism Unbound: The Case for Nano Nonprofits

CFO News Room

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.

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.

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.

The Pros and Cons of Being a Nonprofit

CFO News Room

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.

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.

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

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.

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.

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?

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!

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.

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!

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? ??

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. .

5 Steps to Forming a 501(c)(3) Nonprofit Corporation

CFO News Room

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.

PODCAST: Mastering Your Financial Acumen as a Nonprofit Leader (Kevin Briscoe)

CFO Selections

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?

Cryptocurrency for Nonprofits: 6 Things You Need to Know

The Charity CFO

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.

Financial Oversight Guidelines for Nonprofit Boards

The Charity CFO

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.

3 Tips for Successful Nonprofit Board Development

The Charity CFO

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.

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.

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!

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?

How to Create A Nonprofit Operating Reserve Policy

The Charity CFO

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? .

ASC 606 Nonprofit Revenue Recognition Rules for Exchange Transactions

The Charity CFO

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).

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).

Nonprofit organizations face challenges. We offer solutions.

Capital CFO LLC

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 Finance Committee and Nonprofit Financial Management Tips

The Charity CFO

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.

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.

Do Nonprofits Use Cash or Accrual Accounting?

The Charity CFO

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.

Why “branding” matters to the modern nonprofit with Beth Brodovsky

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.

Why You Should Invest in Staff Development for Your Nonprofit

Capital CFO LLC

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