The Charity CFO

AUGUST 15, 2023

The nonprofit sector is full of rewarding and impactful careers because it plays a crucial role in addressing various social, environmental, and humanitarian challenges. In this section, we will debunk the three most common nonprofit accounting myths. Ready to dive deep into this exciting realm?

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The Charity CFO

APRIL 25, 2024

To learn more about how The Charity CFO can use technology to streamline nonprofit accounting, you can set up a consultation here. The Goal in Your Nonprofit Accounting Software Before stepping into the details of how these organizations’ accounting is set up, let’s start at the foundation level.

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Non Profit Accounting Academy

JANUARY 9, 2025

Redesigned Smart Nonprofit Money We are reconfiguring Smart Nonprofit Money, our online community. The post Your Best (QuickBooks) Year Ever appeared first on Nonprofit Accounting Academy. The SNM Free level does not include access to other members.) Or so you can land the position you really want?

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Blue Avocado

OCTOBER 22, 2024

Obtain permits and Licenses : Check on regulatory requirements before undertaking activities such as serving liquor at a special event, conducting a raffle, or starting a bingo night. It may be helpful as a starting point to talk to another nonprofit leader whose organization is engaged in the same activity.

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NonProfit Hub

JUNE 29, 2021

This blog will be a great place to start, but if you find yourself praying no one asks you questions about the financials in your next board meeting, you may want to check out our Nonprofit Accounting Essentials course in partnership with The Charity CFO. . I signed on to further a cause, not to be the accountant!

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The Charity CFO

JULY 28, 2022

We’ll tell you all you need to know about complying with these new rules when accounting for leases of all types. What is ASC 842 for nonprofit lease accounting? All nonprofit accounting rules in the United States are defined and codified by the Financial Accounting Standards Board, or “FASB”.

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NonProfit Hub

MARCH 11, 2025

Monitor website activity. Track login attempts, changes to files and other activity to identify unusual patterns that may indicate a breach. They monitor and filter incoming data to detect and prevent attacks. Website firewall protection is essential for safe online operations and site security checks.

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Nonprofit Tech for Good

MARCH 21, 2019

One of the biggest misconceptions of social fundraising is that it just means to be active on social media using your nonprofit account. Move offline activities online. And, each time you add more online presence to your nonprofit, the more opportunities you’ll have to encourage social fundraising.

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The Charity CFO

DECEMBER 21, 2021

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. . In this article, we’ll do our best to answer the most the most common tax-related questions for 501(c)(3) nonprofits. Do nonprofits pay property tax? What’s a Form 990?

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Nonprofit Tech for Good

MAY 18, 2020

Advocating by galvanizing grassroots activism, signing petitions, and contacting elected officials. The application is available through Google for Nonprofits. If your organization does not yet have a Google for Nonprofits account, the first step is to create one. . Account Structure: .

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Nonprofit Marketing Insights by GlobalOwls

FEBRUARY 24, 2021

It’s free and painless to switch to a nonprofit account across platforms, so I wouldn’t waste any time getting on board with this. Here are some ways to access the numerous nonprofit benefits for some specific platforms: Facebook. You want your audience to know that you’re responsive, active, and that your content is up-to-date.

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NonProfit Leadership Alliance

OCTOBER 5, 2022

However, due to the nature of nonprofit accounting, your organization may need to use several different budgets regularly. . On a monthly or quarterly basis, pull reports such as your statement of activities and your statement of cash flows. Define the Types of Budgets You Need. These types of budgets include your: .

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The Charity CFO

FEBRUARY 25, 2022

If you’re brand new to nonprofit accounting, the Chart of Accounts might be the best place to start. Because even if you only have one bank account, bill, investment, or expense, you’ll need one. What is a Chart of Accounts? Your Chart of Accounts is the foundation for any accounting system.

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The Charity CFO

FEBRUARY 2, 2022

16 “schedules” that provide supplemental information on funding sources, campaign activities, international activities, in-kind donations , etc. We recommend you always partner with a CPA familiar with nonprofit accounting to ensure compliance and proper reporting. . Form 990-T : Report unrelated business income .

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The Charity CFO

MAY 31, 2024

Transparency and accountability are two of the most important factors in nonprofit accounting. Being transparent in your nonprofit accounting helps build trust in your organization. Donors, the board of directors, and the public all want to know what your organization does with the funds it brings in.

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The Charity CFO

MAY 31, 2022

In this article, we’ll walk you through the elements of nonprofit finance that every executive director, CFO, and accountant should know. But you won’t understand a nonprofit’s finances based on financial statements alone. And in most organizations, others on your finance committee or accounting team are glad to help.

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The Charity CFO

FEBRUARY 9, 2022

And they want that anonymity to apply to their charitable activities as well. Want to learn the basics of nonprofit accounting? . The basics of nonprofit accounting are actually pretty simple. Don't hire the wrong accountant for your nonprofit! Yes, even if you were bad at math in high school.) .

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The Charity CFO

JANUARY 25, 2022

There are three sections on the Statement of Financial Position, and together they illustrate the nonprofit accounting equation : Assets = Liability + Net Assets. In nonprofit accounting, we refer to it as Net Assets. .’ There are no hard-and-fast rules when it comes to internal reports.

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Bloomerang

FEBRUARY 16, 2024

Using a nonprofit banking account can simplify nonprofit financial management and provide benefits that personal and business accounts do not offer. For example, Crowded , one of the leading nonprofit-centered financial institutions, offers free fundraising tools and donation collection for its nonprofit account holders.

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The Charity CFO

OCTOBER 9, 2023

Let’s take a closer look at nonprofit accounting systems, the most frequent mistakes, and how to avoid trouble down the road. Well-functioning accounting systems can have a massive impact on how an organization runs outside of conventional financial ways, as well.

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The Charity CFO

JANUARY 21, 2022

So let’s take a look at where you’ll see restricted funds on your financial reports: Statement of Activities. You’ll see restricted and unrestricted revenue segmented on your Statement of Activities. This adds transparency to your finances, but it also makes them a bit harder to read. . And inevitably lead to mistakes.

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The Charity CFO

JULY 19, 2024

A Chief Financial Officer (CFO) is a senior executive in charge of the strategic direction and goal setting of a nonprofit’s accounting and financial management. The CFO role generally includes: responsible for the strategic direction and goal setting of a nonprofits accounting and financial management.

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NonProfit Hub

MARCH 25, 2025

” Instead, your focus needs to be on consolidation, adoption, activation, removing friction, and regular review. For example, Pinky Swear Foundation a nonprofit in Minneapolis/St. Just explore a few of the LUMAscapes to see how quickly you can drive off a cliff pursuing “tools.”

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Top Nonprofits

MAY 24, 2024

According to Double the Donation , board members have a fiduciary responsibility to monitor your organization’s financial activity and health, meaning financial oversight is their job. To receive individualized support for your organization, consult a professional accountant with experience in nonprofit finances.

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Get Fully Funded

OCTOBER 26, 2022

Getting your programs off the ground, ensuring legal compliance, recruiting staff and volunteers, and correctly managing your nonprofit’s finances can be daunting. This checklist is a great starting point, and don’t be afraid to reach out to an expert like a nonprofit accountant for help or answers to any questions that arise.

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Nonprofit Tech for Good

JANUARY 10, 2022

Over 100,000 nonprofits worldwide have taken advantage of Google Grants since the program was established in 2003, yet most nonprofits have never taken part in the program and many more are no longer receiving Google Ad Grants, because they did not take the necessary steps to keep their account active.

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The Charity CFO

DECEMBER 27, 2023

Tax-exempt status makes it easier for your organization to retain nonprofit revenue and meet the goals of your mission. However, your nonprofit may engage in revenue-generating activities that don’t relate to the purpose of your organization. The nonprofit must have control over the charitable activities of the venture.

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Get Fully Funded

AUGUST 16, 2024

While your nonprofit should be careful not to overload its COA with too many categories, you also must provide enough detail to accurately reflect your financial activity. Remember to consider how each category impacts your nonprofit’s financial decision-making. Work With a Nonprofit Accountant.

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The Charity CFO

JULY 12, 2024

Improved Financial Transparency Accrual accounting provides stakeholders with a detailed view of your organization’s financial activities, improving trust and confidence. With increased transparency through accrual accounting, donors can see how their contributions are being used and the impact they’re making.

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Get Fully Funded

FEBRUARY 1, 2022

Create a fundraising plan to bring in the money you need, mapping out all your fundraising activities for the year. Contact people through Facebook, LinkedIn, and Instagram, if you are active on those platforms. And if you aren’t active, get active!) Sports equipment? Next, think about revenue.

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The Charity CFO

AUGUST 30, 2022

All US businesses, for-profit and nonprofit, were subject to new revenue recognition standards starting by 2019. Nonprofit accounting departments often move slowly, so while hopefully you’ve already implemented these standards, you should ensure that you have. And Does It Impact Nonprofits? ASC 606 5-Step Process.

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The Charity CFO

APRIL 18, 2024

For instance, working with a nonprofit accountant, like The Charity CFO, can help you reduce your risk of financial non-compliance. Nonprofit Technology Integration and Data Security One of the best things you can do for your nonprofit is to start leveraging data. Need Help Facing Nonprofit Accounting Challenges?

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NonProfit Hub

MARCH 27, 2025

How To Get Started with Salesforce Identify pain points in your current fundraising and donor management activities: Examples include duplicate data, difficulty in generating fundraising reports, and spreadsheets used as system work – arounds. Then, explore how Salesforce addresses these challenges.

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The Charity CFO

JANUARY 5, 2023

They should clarify the roles, authority, and responsibilities for essential financial management activities and decisions. . Accountability for everyone involved. Nonprofit fiscal policy. They provide a framework for the oversight and governance of financial operations and activities. Statement of activities.

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The Charity CFO

OCTOBER 12, 2022

And one of the key differences is that nonprofits talk about net assets rather than net income or equity. It’s mostly a difference in terminology in nonprofit accounting vs. for-profit accounting. But it’s not a term that most non-accountants are familiar with, and there are a few differences in how it’s reported.

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Stanford Social Innovation Review

FEBRUARY 8, 2023

million) to 15 nonprofits through its Impact Ground Project. Among the grantees, early-stage nonprofits accounted for 66.7 The foundation has also started a capacity-development program for nonprofits in collaboration with Root Impact , an intermediate support organization. billion won (about $9.7

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The Charity CFO

APRIL 8, 2022

When you’re not giving a percentage of your income to the IRS, you can use those financial resources to carry out your nonprofit’s mission. . PRO TIP: Only income from activities “related to your mission” are exempt from tax. That means you should go about your activities as if you are exempt from federal taxes.

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