The Charity CFO

NOVEMBER 10, 2022

What should you look for when evaluating nonprofit accounting services? Nonprofit organizations exist to further a mission or goal. Whether you are an educational, charitable, religious, sports, or other public-benefit organization, you need to have a good handle on your finances in order to make the most impact.

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Get Fully Funded

FEBRUARY 10, 2025

When you start a nonprofit, one of the most important things to figure out is how to manage your organizations finances. However, nonprofit accounting is often more complicated than it sounds. The post 4 Nonprofit Financial Management Challenges (& Solutions) appeared first on Get Fully Funded.

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Top Nonprofits

MAY 24, 2024

No matter your purpose, well-managed finances yield data-driven insights that allow those in financial positions to plan and achieve the organization’s goals. To help, we’ve compiled this list of four best practices your advocacy group can implement to manage its finances more effectively.

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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 accounting system helps you stay in compliance with tax and legal regulations–helping you maintain your exempt status. However, effective accounting isn’t just about following rules.

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Get Fully Funded

JANUARY 16, 2024

Now that your new nonprofit is up and running, developing a solid foundation for financial management should be a top priority. The ins and outs of nonprofit accounting may seem overwhelming at first, but effectively recording and reporting your organization’s finances is essential to fund your mission.

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Bloomerang

FEBRUARY 16, 2024

Effective nonprofit financial management helps you maximize the value of the donations you receive and fulfill the vision of your nonprofit. 8 strategies for effective nonprofit financial management There’s more to managing your charity or nonprofit’s finances than collecting donations, although that is a critical part.

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Nonprofit Fixer

NOVEMBER 20, 2024

When you’re busy leading a nonprofit—developing program strategies, cultivating donors, supporting staff—thinking about accounting and finance can feel like an afterthought. But to be successful, nonprofit leaders need a functional grasp of the basics of nonprofit accounting and financial management.

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The Charity CFO

DECEMBER 23, 2024

Whether you choose traditional payroll or a PEO, ensure that the provider understands the unique needs of nonprofit organizations. At The Charity CFO , we understand the complexities of nonprofit finances and operations. Do You Struggle to Make Sense of Your Financial Statements? Get the free guide!

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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

MARCH 23, 2023

Nonprofit accounting financial statements may seem like a chore. Nonprofits use financial statements to comply with IRS regulations, build trust with donors, and plan for the future. You may think that nonprofit financial statements are the same as those at for-profit companies, but this is not the case.

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Nonprofit Megaphone

JUNE 23, 2022

Your nonprofit does what you need to do to keep the core of your finances compliant. But this is often not enough for nonprofit organizations to get the most from their finances. In this guide, we’ll cover the core elements of healthy nonprofit financial management. Are you even sure your Form 990 is correct?

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NonProfit Leadership Alliance

OCTOBER 5, 2022

And having an effective budget is key for your organization’s overall financial health —as long as you’re able to follow it throughout the year. . However, due to the nature of nonprofit accounting, your organization may need to use several different budgets regularly. . Define the Types of Budgets You Need. Operational budget.

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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

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. For-profit businesses also call the statement of financial position a balance sheet, and many nonprofits do the same.

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The Charity CFO

JULY 3, 2024

The middle of the year is the perfect time to pause and reflect on your nonprofit organization’s financial health. A midyear financial review helps you identify problems early and align your nonprofit’s financial performance with planned goals. Conducting a review is important, but where do you start?

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The Charity CFO

JULY 12, 2024

While many nonprofits start with cash-basis accounting due to its simplicity, this method often falls short of providing a comprehensive view of a nonprofit’s financial health. Transitioning to accrual-basis accounting can offer a more accurate representation of finances and enhance long-term planning.

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Getting Attention

MARCH 9, 2015

Please post YOUR nonprofit marketing job here: Featuring jobs with nonprofit organizations, grantmakers, B Corps, and agencies and other vendors serving nonprofits. Account Coordinator, Digital Fenton Communications (Washington, DC). Business Development Manager Nonprofit Finance Fund (New York, NY).

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The Charity CFO

JULY 19, 2024

Bookkeepers, accountants, and Chief Financial Officers (CFOs) all serve critical roles in managing an organization’s finances. A bookkeeper is a financial professional responsible for recording and managing a nonprofit’s daily financial transitions. An accountant generally holds a bachelor’s degree in accounting or finance.

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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. Get the free guide!

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Top Nonprofits

FEBRUARY 13, 2024

Nonprofit Accountant According to Jitasa , a nonprofit accountant is a professional who helps your organization “ensure financial health and stability, analyze financial data, and make decisions based on the nonprofit’s unique financial position.” Let’s get started!

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Get Fully Funded

AUGUST 16, 2024

Work With a Nonprofit Accountant. When handling your nonprofit’s finances in any capacity, a professional’s expertise is always your best bet for getting it right. When handling your nonprofit’s finances in any capacity, a professional’s expertise is always your best bet for getting it right.

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The Charity CFO

JANUARY 12, 2024

Financial forecasting is a term you’ll hear thrown around in the business world quite often—but in the world of nonprofits, it can be difficult (and even downright impossible) to plan your organization’s finances with any degree of certainty. What Is a Financial Forecast for Nonprofits? Get the free guide!

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The Charity CFO

MARCH 2, 2022

“I don’t know if my nonprofit’s accounting systems are bad… and I probably won’t know for sure until something bad happens.”. 99% of nonprofit founders we work with don’t have a background in finance. For more nonprofit accounting resources check out www.thecharitycfo.com. ??

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Top Nonprofits

FEBRUARY 23, 2024

Despite their tax-exempt status, nonprofits must still follow certain tax requirements when managing staff payroll, such as filing Form 990. According to Double the Donation’s nonprofit accounting guide , nonprofits must also issue Form 1099 to contract workers who are paid at least $600 for their services.

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The Charity CFO

JANUARY 5, 2023

Many nonprofit organizations tend to let their financial management slip on the backburner as they get busy fulfilling their mission. Sure, your mission should be a priority, but managing finances can’t be neglected either. Without a good grasp of your finances, your nonprofit risks: Exposure to fraud.

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Top Nonprofits

JULY 2, 2024

Managing your nonprofit’s finances is about more than just raising money and recording what you earn and spend. It also involves financial stewardship—the practice of saving, storing, and investing your cash reserves wisely to boost your organization’s long-term financial health. Share This Post!

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The Charity CFO

AUGUST 27, 2024

An organization’s Key Performance Indicators (KPIs) provide a clear measure of how well the nonprofit is maintaining financial health while working toward its mission. Many nonprofits must balance their goals with limited resources or strict compliance regulations. Track the Right Nonprofit KPIs for the Best Results!

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The Charity CFO

MAY 22, 2024

Financial Nonprofit KPIs Financial KPIs focus on how your organization earns and uses money. Tracking your organization’s finances can help you spot financial issues and find solutions before they become major headaches. You can use financial KPIs to get a better idea of the overall financial health of your organization.

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The Charity CFO

APRIL 22, 2024

In addition to communication, you can help reduce burnout by prioritizing employee wellness and mental health. Offering wellness programs, family-friendly policies, or other mental health benefits for employees gives them the resources they need to proactively manage stress and stop burnout. Get the free guide!

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The Charity CFO

DECEMBER 27, 2023

Joint Ventures and Tax Implications Many nonprofits partner with for-profit entities to help advance their mission with the financial backing of their partner. For example, a mental health organization might create a joint venture with a for-profit healthcare system to establish mental health facilities in underserved areas.

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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. You can use KPI data to track your organization’s performance in various areas, such as finance or operations. Contact us today to learn more. Do You Struggle to Make Sense of Your Financial Statements?

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The Charity CFO

DECEMBER 8, 2022

The IRS has strict regulations on how to handle grants and charitable contributions, so it is essential that you understand the best practices when accounting for them. Because accurate nonprofit accounting can help with reporting and auditing requirements, and ensure that the funds are being used in accordance with the grantor’s wishes.

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The Charity CFO

JUNE 7, 2023

Strategic Uses Financial Planning : Provides insights into the financial health of the organization. It provides an overview of the nonprofit’s financial activities, highlighting its financial stability, sustainability, and the impact of its programs. accounts payable, loans). Get the free guide!

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Non Profit Accounting Academy

JANUARY 27, 2022

Her focus is on sharing with nonprofit finance directors her lessons learned from 25 years of on-the-job training. About ten years into my fifteen-year term at a Catholic Charities agency in upstate New York a relatively new finance committee member, Mr. Shea we’ll call him, disappeared. Shea we’ll call him, disappeared.

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The Charity CFO

APRIL 5, 2023

Having a CPA as a resource, whether internally or outsourced will be crucial to understanding the basics of nonprofit accounting. Get our FREE GUIDE to nonprofit financial reports, featuring illustrations, annotations, and insights to help you better understand your organization's finances. Get the free guide!

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Fundraising Coach

APRIL 28, 2021

Effective organizational management is imperative for nonprofits to be successful in achieving their missions. Today, Jon Osterburg, Vice President of Sales and Marketing at Jitasa, lends the knowledge he’s gained helping over 100 nonprofits globally with their finances. Ready to dive deeper into profitable fundraising?

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Fundraising Coach

APRIL 28, 2021

Effective organizational management is imperative for nonprofits to be successful in achieving their missions. Today, Jon Osterburg, Vice President of Sales and Marketing at Jitasa, lends the knowledge he's gained helping over 100 nonprofits globally with their finances. Ready to dive deeper into profitable fundraising?

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