Nonprofit MDA CFO attributes $5M cost reduction to streamlined operations, tech
CFO Dive
MAY 16, 2024
Since rising to the CFO chair in 2018, Michael Kennedy pared down the nonprofit’s back-end from 65 systems to one platform.
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CFO Dive
MAY 16, 2024
Since rising to the CFO chair in 2018, Michael Kennedy pared down the nonprofit’s back-end from 65 systems to one platform.
CFO Selections
FEBRUARY 19, 2024
Our team is used to discussing what’s included in a CFO’s job description. But this type of conversation usually centers around the commonalities that unite all CFO roles, not the nuanced differences for a specific industry or type of organization.
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The Charity CFO
MAY 9, 2024
During today’s conversation on a Modern Nonprofit Podcast, Tosha welcomes Dr. Krystal White. The latter is key for today’s conversion as Tosha and Krystal discuss what it takes to start a nonprofit from the ground up. So the question is, many people seek to start a business, but why specifically a nonprofit organization?
Capital CFO LLC
OCTOBER 23, 2023
Introduction Nonprofit agenda management at its core is a game changer. Building the right agenda is a tool in your […] The post Nonprofit Agenda Management: Empowering Organizational Success appeared first on Capital CFO+. It helps you to run efficient, effective and productive meetings.
The Charity CFO
FEBRUARY 7, 2024
John Renouard is the founder and executive director of the nonprofit organization, WHOlives. Like many nonprofit entrepreneurs, John’s career path wasn’t centered around becoming a 501c(3) director. John couldn’t either and so his nonprofit, WHOlives, was created. Can you imagine walking miles every morning, just to get water?
The Charity CFO
APRIL 24, 2024
A key performance indicator (KPI) is a data metric you can use to gauge the overall success of your nonprofit organization. Let’s explore how you can define your nonprofit KPIs and some examples of common metrics. This, of course, is what makes defining nonprofit KPIs complicated. Have measurable data readily available.
The Charity CFO
APRIL 26, 2024
That’s why it’s so important to know what to look for in a nonprofit accountant. The next step is to ask your potential nonprofit accountant a few questions to see if they’d be a good fit for your organization. Here are seven questions to ask a nonprofit accountant before working with them.
Capital CFO LLC
APRIL 19, 2024
You’re thinking of a rebrand for your nonprofit—how can you reignite its presence and impact? Rebrand Your Nonprofit: Assessing the Need for Change Before committing to a rebranding […] The post Rebrand Your Nonprofit: Revamp Now for Success appeared first on Capital CFO+. Rebranding could be the catalyst.
The Charity CFO
APRIL 18, 2024
It’s no secret that running a nonprofit isn’t always easy, especially if you don’t know what challenges await you in the coming months. Luckily, we’ve put together a list of the five most common challenges for nonprofits in 2024. Let’s look closer at the challenges nonprofits will face in 2024–and how to solve them!
The Charity CFO
APRIL 1, 2024
Implementing technology into your nonprofit accounting process can help solve a variety of issues—from tracking receipts to properly recording donations. In most cases, technology helps improve the efficiency and accuracy of nonprofit accounting. Nonprofits are subject to a lot of legal and financial scrutiny.
The Charity CFO
APRIL 22, 2024
In many nonprofits, burnout is the emotional, physical, and mental exhaustion of employees due to prolonged stress. Understanding Burnout in Nonprofit Organizations Burnout at work can happen to anyone. Consider these four strategies to improve your workplace culture and reduce burnout in your nonprofit employees.
Capital CFO LLC
MARCH 22, 2024
Volunteers are the lifeblood pulsing through the veins of your nonprofit. The landscape of volunteer engagement is transforming, demanding innovative strategies that resonate with a diverse pool […] The post Creative Volunteer Recruitment Strategies for Nonprofits appeared first on Capital CFO+.
The Charity CFO
APRIL 2, 2024
Managing a nonprofit can be complex, especially when it comes to nonprofit accounting. Nonprofits face unique financial challenges and responsibilities that require specialized expertise and support. Finding the right accounting partner for your nonprofit is essential to the financial success of your nonprofit organization.
The Charity CFO
MARCH 29, 2024
Do you know the financial health of your nonprofit organization? Knowing where your finances stand is essential to effective nonprofit management. One of the best ways to get a quick read on your organization’s financial health is to compare your nonprofit budget to actual performance.
The Charity CFO
MARCH 28, 2024
Your nonprofit accounting system might not be the most exciting part of your organization, but it’s one of the most important aspects. An effective nonprofit accounting system also helps your organization stay transparent, manage funds wisely, and build trust with donors and the public.
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.
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.
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?
CFO News Room
NOVEMBER 27, 2022
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. The very best nonprofits have much to teach corporations.
The Charity CFO
MARCH 21, 2024
As Tosha mentions, a survey produced by BDO stated that 45% of nonprofits are going to combat inflation through fundraising efficiencies. The entire idea is essentially saying, how does the nonprofit get more out of doing less? You can find Tosha and the Charity CFO team on Youtube or our website, thecharitycfo.com !
The Charity CFO
MARCH 13, 2023
Fundraising ideas for nonprofits are one of the more exciting ways to add needed momentum to your mission. The idea behind nonprofits is to support the public good. million nonprofits in the United States, there are countless organizations available to provide shelter, medical assistance, and education, you name it! With over 1.3
The Charity CFO
FEBRUARY 27, 2024
Effective budget tracking is essential to financial transparency, efficient resource allocation, and strategic planning for your nonprofit. Tracking your budget helps with overall budget management, which contributes to your financial stability and the success of your nonprofit mission. This will look different for every organization.
The Charity CFO
JANUARY 22, 2024
The nonprofit exists today to provide a central network for America’s Heroes to find volunteers willing to board their pets during times of service or hardship. Alisa mentions in the interview that her start literally began with two books: HTML for Dummies and Nonprofit for Dummies. Alas, Dogs on Deployment (DoD) was then created.
The Charity CFO
JANUARY 30, 2024
Many nonprofits use mergers to strengthen their organizations. Ultimately, nonprofit mergers can help an organization better fulfill its mission. Are you considering merging with another nonprofit? A struggling nonprofit might have to close its doors if it can’t find the money to operate.
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. Traditional Nonprofit Board Committees.
Capital CFO LLC
JANUARY 15, 2024
Every nonprofit has a heartbeat, a rhythmic pulse of values that fuels its mission. Imagine your organization as a body: The heart pumps life-sustaining blood, much like core values circulate […] The post Storytelling for Your Nonprofit: Building Emotional Connections appeared first on Capital CFO+.
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.
The Charity CFO
JANUARY 12, 2024
If you dream of devoting more time to a cause you believe in and taking it to the next level, you might ponder starting a nonprofit. The prospect of serving your community is certainly a calling worth pursuing, and nonprofits serve an essential role in their clients’ lives. 5 Reasons Why You Shouldn’t Start a Nonprofit 1.
The Charity CFO
MARCH 31, 2023
The IRS does not require nonprofit audits in most cases, however, they may periodically request an audit (examination) or a compliance check. Should My Nonprofit Obtain an Independent Audit? Do your research and select Firms that specialize in nonprofits. With appropriate planning, they can go smoothly.
The Charity CFO
MARCH 27, 2024
As a nonprofit leader, you’ve probably heard of QuickBooks or may have even used it before. And you might be wondering if you can use QuickBooks for your nonprofit accounting. The answer is yes, QuickBooks Online can be configured for nonprofit use. Nonprofits also need to record expense receipts.
The Charity CFO
MARCH 6, 2024
On today’s episode of A Modern Nonprofit Podcast , our special guest is the one and only Tosha Anderson, our very own founder and CEO. The conversation today has a very simple focus, 5 red flags that your nonprofit accounting needs improvement, even when it may not be recognized. Revenue in business works best when it’s consistent.
The Charity CFO
DECEMBER 15, 2023
While the nature of a nonprofit means you’re focusing more on your mission than making money, bringing in revenue is still essential. Accurate revenue recognition, classification, and records are some of the most important aspects of nonprofit accounting. That depends on your organization’s size and complexity.
The Charity CFO
APRIL 9, 2024
Good morning from a Modern Nonprofit Podcast! Maya and her team specialize in investing for nonprofit organizations. Sustainability matters and speaks volumes to how a social impact can shape the public’s view of the nonprofit organization. Do You Struggle to Make Sense of Your Financial Statements? Get the free guide!
The Charity CFO
FEBRUARY 4, 2022
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. Furthermore, nonprofit bookkeeping differs in some critical ways from for-profit bookkeeping too.
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. How to prepare for your nonprofit audit: Step 1: The Roadmap.
The Charity CFO
APRIL 20, 2023
How can nonprofit accounting software help your organization with efficiency? However, nonprofit organizations face unique accounting challenges and not all commercial accounting software may be equipped to handle. Where to start with nonprofit accounting software Nonprofits have to comply with strict financial accounting standards.
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?
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. Because the basics of nonprofit finances are easy to grasp. . Is that the case here?
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. Because no business–including nonprofit businesses– can operate successfully without knowing their numbers. .
The Charity CFO
OCTOBER 19, 2022
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. Don’t be misinformed, join Tosha as she reveals the truth behind concepts that tie nonprofit founders, board members, and bookkeepers in knots.
The Charity CFO
SEPTEMBER 28, 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. But nonprofit bookkeeping doesn’t have to be so stressful.
The Charity CFO
NOVEMBER 15, 2023
If you’re like most nonprofit leaders, you probably have questions — and possibly mixed feelings — about nonprofit debt. That’s because you’ve also probably received mixed messages about nonprofits and debt. Nonprofits aren’t often encouraged to take on debt. the why behind nonprofit debt.
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. You will make a difference as soon as you start a nonprofit.
The Charity CFO
OCTOBER 13, 2023
The mission is simple, to connect nonprofit organizations with corporate excess inventory. WIN Warehouse Catalog To clarify, WIN Warehouse is a nonprofit organization, which is key to how everything works. In essence, corporations have the need to get rid of old supplies and nonprofits need the supplies to go about business function.
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