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? Inflexible or antiquated accounting systems.

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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. .

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Bloomerang

FEBRUARY 16, 2024

Financial management is possibly the most important aspect of your nonprofit’s operation. The services and programs your organization delivers are vital, but improper or ineffective fund management is a disservice to your donors and the people and cause you serve.

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Get Fully Funded

JUNE 5, 2023

When set up right, your nonprofit accounting system will help you manage your nonprofit and streamline processes like budgeting, projecting cash flow, and even hiring. The problem is that if you’re like most, you haven’t paid a lot of attention to your accounting system. Maybe that’s you! I promise you will.

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The Charity CFO

JANUARY 17, 2022

If you’re like most nonprofit leaders, you’re not researching nonprofit accounting basics to satisfy your curiosity. You need to get a better grasp of your organization’s finances now. with this overview of nonprofit accounting basics. . What is nonprofit accounting? It’s a necessity.

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Top Nonprofits

MAY 24, 2024

Effective financial management is essential for any organization. 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. Your advocacy group’s leadership can also help ensure each policy aligns with compliance standards.

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The Charity CFO

MARCH 16, 2022

Today we’re proud to announce another amazing addition to the industry’s best nonprofit accounting team! Theresa Guest is joining The Charity CFO team in the role of Accounting Manager. The post Theresa Guest Joins The Charity CFO as Accounting Manager appeared first on The Charity CFO.

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The NonProfit Times

SEPTEMBER 3, 2024

Flexible advanced functionality to streamline essential finance and accounting processes like nonprofit revenue recognition, grant tracking and billing, spend management and Sage Intacct Mateo to make savings and loans management uncomplicated and effortless.

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Non Profit Accounting Academy

JANUARY 9, 2025

What would make 2025 your best year ever for managing the finances of your organization? For any organization to achieve such financial goals, it takes someone with nonprofit financial management knowledge and the willingness to lead. What would make 2025 your best QuickBooks year ever? What an amazing vision.

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The Charity CFO

JULY 1, 2024

Choosing the right accounting services is crucial for the financial health of your nonprofit. The right nonprofit accountant helps your organization properly manage its finances, which improves trust and transparency with stakeholders and donors.

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The Charity CFO

DECEMBER 23, 2024

As a nonprofit leader, you’re constantly looking for ways to streamline operations and maximize resources. When it comes to managing your organization’s workforce, you have two primary options: traditional payroll services or a Professional Employer Organization (PEO).

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NonProfit Hub

SEPTEMBER 5, 2017

When your nonprofit stays on the ball about adapting to new tools, it can work to achieve its mission. Part of this comes from good customer relationship management tools, but it can also include day-to-day operational things, like accounting and fundraising. . QuickBooks. Additional users must purchase additional product keys.

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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.

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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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The Charity CFO

APRIL 25, 2024

Summary For each of these organizations, Connections and Vermont Adult Learning, their growth resulted in increased complexity in their finances. To learn more about how The Charity CFO can use technology to streamline nonprofit accounting, you can set up a consultation here. This is built upon our mission and values.”

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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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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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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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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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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. That’s why you need a strong accounting partner who specializes in nonprofits.

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The Charity CFO

AUGUST 15, 2023

Myths of Nonprofit Accounting and Why They Matter to Job Seekers Unfortunately, many job seekers fall victim to the stereotypes and believe the myths surrounding nonprofit accounting. In this section, we will debunk the three most common nonprofit accounting myths. However, most of it is actually the same.

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Nonprofit Accountability Nonprofit governance and management Non-Profits Public and Nonprofit Management 52

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.

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The Charity CFO

MARCH 13, 2025

This ensures accountability and makes audits or donor inquiries easier to manage. Pro Tip: Use expense management software like Bill Spend and Expense to track and categorize expenses automatically. With 85% of our clients undergoing audits, we know how critical it is to have a robust accounting foundation in place.

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The Charity CFO

DECEMBER 4, 2024

In the latest episode of A Modern Nonprofit podcast, host Tosha Anderson sat down with Sawyer Nyquist, a data expert who specializes in analytics and data management for nonprofits. The post Decision-Making in Nonprofits: Insights from a Data Expert appeared first on The Charity CFO. Get the free guide!

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The Charity CFO

APRIL 15, 2022

Triná Owens is a former nonprofit financial director who left her job to become an Accounting Manager at The Charity CFO. In this episode, she and Tosha tell you the top reasons that your accountants don’t stick around. In this episode, you’ll discover: The top 3 reasons nonprofit accountants walk out the door.

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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. Calculate your fundraising efficiency.

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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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Management Nonprofit governance and management Nonprofit Administration and Development Finance 52

Top Nonprofits

JULY 2, 2024

Managing your nonprofit’s finances is about more than just raising money and recording what you earn and spend. This means it’s crucial not only to manage your organization’s reserve funds well but also to stay aware of the current financial best practices and trends in the nonprofit sector.

Management 52

Management Nonprofit governance and management Non-Profits Finance 52

The Charity CFO

APRIL 19, 2022

In our experience, nonprofits with little in reserve and/or low cash balances tend to have financial management challenges, often including: Poor collection of accounts or pledges receivable. Over-reliance on high-interest short–term financing . Preferably someone with some accounting experience.

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Top Nonprofits

FEBRUARY 23, 2024

In this guide, we’ll explore how to manage payroll for your staff. The first step to effectively manage staff payroll is to gain a holistic understanding of your employees’ efforts and compensation. This data is crucial to effective financial management and nonprofit compliance, especially for annual filings such as Form 990.

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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. Top Nonprofit Bookkeeping Tips. Use A Simple Accounting Software .

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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. What is a Bookkeeper?

Public and Nonprofit Management 52

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The Charity CFO

JANUARY 21, 2022

But once you start getting larger donations or grants, fund accounting quickly becomes a necessity. . What is fund accounting? . Fund accounting is an accounting system created to help not-for-profit organizations and agencies manage streams of revenue designated for specific purposes. .

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Top Nonprofits

FEBRUARY 13, 2024

Nonprofits are typically composed of hardworking professionals who wear many hats. While each staff member may have a specific title like “fundraising director” or “project manager,” they often take on a wider range of responsibilities. No matter which option you choose, make sure your accountant specializes in nonprofit work.

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The Charity CFO

MAY 22, 2024

What do many successful nonprofits have in common? Good financial management. In nonprofits, managing your finances effectively is essential to running a sustainable organization. Not only does good financial management help keep your organization running, but it also helps bolster trust in your nonprofit.

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