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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Top Nonprofits

AUGUST 22, 2022

Nonprofit accounting is unique when compared to for-profit accounting. This is primarily because nonprofits agree to reinvest all of their revenue back into the mission at hand in exchange for tax-exempt status. Internal controls are policies and decisions made to prevent the misappropriation of nonprofit funds.

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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

SEPTEMBER 23, 2024

Your nonprofit organization relies on the knowledge and guidance of its leadership team to advance its mission. A strong leadership team makes it easy for your organization to reach its goals by effectively using resources and managing strategy. Attract a diverse group of candidates by using targeted recruitment strategies.

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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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NonProfit Leadership Alliance

OCTOBER 5, 2022

However, due to the nature of nonprofit accounting, your organization may need to use several different budgets regularly. . These allow you to discover additional insights into your organization’s finances that will help you craft future budgets. Define the Types of Budgets You Need. These types of budgets include your: .

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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 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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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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The Charity CFO

SEPTEMBER 17, 2024

Nonprofit organizations rely on their leadership team to help shape and implement the mission, making succession planning a key part of long-term success. While CEO succession typically grabs the spotlight, you also need to consider other teams that contribute to the everyday operation of your nonprofit. 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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The Charity CFO

FEBRUARY 27, 2023

First things first: Treasurers aren’t accountants. A position to oversee finances may sound a lot like an accountant, but there are important distinctions between the two. Many nonprofits do not have in-house accountants and choose to outsource instead. What are the qualifications for nonprofit treasurer duties?

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The Charity CFO

JUNE 27, 2024

Leading a nonprofit organization isn’t just about passion–it’s about effective leadership. Nonprofit executive directors play an irreplaceable role in steering their organizations toward success. This guide will explore key strategies and insights to help you excel as a nonprofit executive director. Get the free guide!

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The Charity CFO

MAY 11, 2023

Using the scalability mentioned above, outsourced accounting services typically have access to these softwares to ensure that your accounting, reporting and filing is done accurately and efficiently. Many organizations are close to the heart of their leadership, and letting go can be difficult. Get the free guide!

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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

JUNE 29, 2023

However, it might lead you to wonder whether your nonprofit is also exempt from audits. Although the answer to that question is no , nonprofit audits tend to work differently from audits of businesses’ or individuals’ finances, which are usually conducted by the IRS. What are the benefits of auditing?

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The Charity CFO

DECEMBER 22, 2021

The ONE thing that all financially sustainable nonprofits have in common (24:36). For more nonprofit accounting resources check out www.thecharitycfo.com. For more information on how to get your nonprofit financially established so that you can achieve your goals, visit CNRG Accounting Advisory @ [link].

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The Charity CFO

JUNE 19, 2023

The second is the financial advisor role that we will refer to, which takes on more of an accounting services perspective. At the most basic level, they can help ensure your organization’s finances are in order and help resolve issues involving financial reports and compliance. Get the free guide!

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The Charity CFO

AUGUST 27, 2024

Track the Right Nonprofit KPIs for the Best Results! Using these key indicators can help your leadership team make more informed decisions regarding budgeting, spending, and fundraising for a more financially well-rounded organization. The post A CFO’s Favorite KPIs for Nonprofits appeared first on The Charity CFO.

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The Charity CFO

MARCH 30, 2022

When a founder plays a significant role in building and running a nonprofit, it’s easy for people to think that the founder “is” the nonprofit. When that happens, it makes the transition to new leadership very hard, when they do decide to step down. The first things to do when moving into the leadership role (14:00).

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The Charity CFO

JANUARY 19, 2022

Are you ready to scale, but you’re afraid that growth will make you even more alone in your leadership role? This week on A Modern Nonprofit Podcast we’ll show you how to build the right team to scale your organization effectively. How to feel less alone in your leadership role. (28:09). Thanks for watching.

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NonProfit Quarterly

FEBRUARY 27, 2024

Similarly, its dominant work culture is likely collaborative, although some functions may be more competitive (fundraising), creative (programming), and controlling (finance and operations). It stands to reason that nonprofits are not simply trying to minimize their costs and maximize their output.

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NonProfit Leadership Alliance

FEBRUARY 18, 2025

Its no secret that effective financial management is critical for nonprofits to thrive. However, many aspects of nonprofit finance can be confusing or difficult to navigate, from deciding how much of your budget to spend on overhead to choosing an accounting platform to organize your records. Did you enjoy this story?

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The NonProfit Times

NOVEMBER 14, 2024

This is commonly found with executive leadership but is not necessarily limited to those roles. From accounting software to data analytics, tech solutions offer an opportunity to improve accuracy and efficiency in financial reporting. Most nonprofit accounting systems aim to ease the burden of reporting expenses by functional category.

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