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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Bloomerang

FEBRUARY 16, 2024

Your nonprofit’s purpose and mission cannot be fueled by passion alone; your organization needs funds to do the good work you’ve set out to do. Effective nonprofit financial management helps you maximize the value of the donations you receive and fulfill the vision of your nonprofit.

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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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Finance Nonprofits Nonprofit Accountability Activism 98

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

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 . So having one person, doing it the same way every time adds tremendous value.

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Nonprofit governance and management Public and Nonprofit Management Finance Nonprofit Accountability 98

NonProfit Quarterly

FEBRUARY 27, 2024

Image credit: fizkes on istock.com This article accompanies the recent NPQ webinar, “ Compensation Equity: Operationalizing Justice Values in Nonprofit Pay Structures ,” presented by the authors. They are asking: “Is how we pay our own workers in alignment with our proclaimed values and external-facing work?”

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The Charity CFO

JANUARY 21, 2022

Then you can track that money through your accounting system to see exactly how much is left, where it was spent, and how much value (net assets) it contributes to your organization. In many cases, though, you’re going to want to have more funds in order to optimize accuracy and transparency in your finances.

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Nonprofit governance and management Public and Nonprofit Management Nonprofits Finance 98

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. The post Financial Reports to Share with Nonprofit Board appeared first on The Charity CFO. Get the free guide!

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Public and Nonprofit Management Finance Nonprofit Accountability Health 52

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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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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Health Nonprofit Accountability Finance Nonprofits 52

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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Finance Non-Profits Public and Nonprofit Management Nonprofit Administration and Development 98

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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Finance Culture Nonprofit Accountability Nonprofits 52

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. A nonprofit accountant has in-depth knowledge of the unique financial issues facing nonprofits to help construct an effective COA.

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Nonprofit Accountability Finance Nonprofits Construction 52

The Charity CFO

APRIL 5, 2022

But that’s not quite true—nonprofits face a decision between 2 different accounting methods for tracking their financial activity: cash accounting vs. accrual accounting. Though both systems use the same numbers, looking at those numbers differently can give you a very different perspective on the state of your finances.

Construction 98

Construction Nonprofit governance and management Nonprofits Finance 98

The Charity CFO

FEBRUARY 2, 2022

The 990-EZ may be simpler than the full form, but it’s still a complex declaration of your organization’s finances. Small to mid-sized nonprofits with annual revenue receipts between $50,000 and $200,000 or total assets valued at less than $500,000 can use this form. The filing can be as short as four pages.

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The Charity CFO

JUNE 27, 2024

This process should include: Clarifying the vision, mission, and values of the organization Developing a strategic plan for the organization Establishing clear goals and objectives, such as defining nonprofit KPIs Defining and clarifying the goals and mission of your organization sets you up as a successful leader. Get the free guide!

Public and Nonprofit Management 52

Public and Nonprofit Management Leadership Nonprofits Finance 52

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!

Finance 52

Finance Nonprofits Collaborations Nonprofit Accountability 52

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

The Charity CFO

SEPTEMBER 23, 2024

Not only does this help with leadership succession planning, but it also shows employees that the nonprofit values them and wants to invest in their future. Many nonprofits find their leadership teams lack an experienced financial professional who knows nonprofit accounting and financial strategy.

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Nonprofit Leadership Leadership Non-Profits Recruitment 52

The Charity CFO

DECEMBER 27, 2023

Nonprofits with excess holdings may face an excise tax on the value of shares over the limit. Joint Ventures and Tax Implications Many nonprofits partner with for-profit entities to help advance their mission with the financial backing of their partner. Reach out to us today to get started! Get the free guide!

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Charitable Contribution Activism Nonprofits Nonprofit Accountability 52

The Charity CFO

DECEMBER 22, 2021

Find out: Why Chyla lists “You Need to Eat” as one of her company’s values. And why nonprofits need to learn to put themselves first. (2:47). How you should think about money as a nonprofit leader (11:13). The ONE thing that all financially sustainable nonprofits have in common (24:36). Thanks for listening.

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The Charity CFO

JANUARY 4, 2024

Many people who work in the nonprofit sector join an organization because they have a passion for the cause. In addition, most workers place high value on jobs with comprehensive benefits in addition to reasonable wages. While passionate employees are essential for driving your mission forward, passion can’t pay their bills.

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Recruitment Insurance Finance Values 52

The Charity CFO

JUNE 7, 2023

In this post, we’ll walk through the most important financial statements, and explain the strategic benefit you can gain by pulling the maximum value from the data. It provides insights into cash generated from operating activities, investing activities, and financing activities. Get the free guide!

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Nonprofit governance and management Finance Activism Nonprofits 52

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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Nonprofit governance and management Law Charitable Contribution Nonprofit Accountability 52

The Charity CFO

APRIL 27, 2022

For more nonprofit accounting resources check out www.thecharitycfo.com. And when I give, I actually am now bonded with these people that have this shared value set that I have. Is that nonprofits don’t really know how to effectively communicate their value proposition. Thanks for watching.

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Fundraising Fundraising Non-Profits Nonprofit Administration and Development 98

Non Profit Accounting Academy

FEBRUARY 14, 2022

Even if you did sell, you’ll likely get sale proceeds different than the $50,000 carrying value. Accounts payable means the organization owes money to vendors in the near future. Net assets is the amount of assets not financed by debt. appeared first on Nonprofit Accounting Academy. Why is that?

Finance 52

Finance Nonprofit Accountability Technology Values 52

Nonprofit Megaphone

MARCH 7, 2024

Running a successful nonprofit organization requires accomplishing a long list of goals. From delivering services to fundraising, cultivating partnerships and collaborations, developing marketing and communication strategies, managing finances, and so much more. Nonprofits have a lot to deal with, and limited resources.

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Top Nonprofits

AUGUST 7, 2023

Some nonprofits who are eligible to file Form 990-EZ or -N choose to file the full form for financial transparency, but it’s up to the nonprofit’s discretion. What is e-filing software and why should nonprofits leverage it? Hiring a nonprofit accountant isn’t a feasible solution for all nonprofits.

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Nonprofit governance and management Nonprofits Technology Values 52

The Kindful Blog

DECEMBER 13, 2024

Prospect Visual How this nonprofit software works: Prospect Visual is a relationship cultivation tool that enables nonprofits to map relationships and focus their efforts on high-value prospects. Pricing: Plans start at $29.70 monthly.

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Nonprofits Nonprofit Administration and Development Collaborations Management 52

iMarketSmart

MAY 22, 2023

The gift value is identical. The charity signals that the donor is valued. (We If he was in insurance or finance, we would think of people who we felt were his peers and someone that he would respect. Nonprofit and Voluntary Sector Quarterly, 46 (4), 817-836. You can use it as my gift to you.” In the other, it doesn’t.

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Altruism and Helping Non-Profits Universities Participation and motivation 52

The Charity CFO

JANUARY 19, 2022

For more nonprofit accounting resources check out www.thecharitycfo.com. Dirk van Reenen: So director of services is somebody that really their job is to oversee the service that you are providing, whatever that value is that you are injecting into the world, whether it’s for profit or nonprofit, they own that area.

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Nonprofits Nonprofit Administration and Development Energy Collaborations 52

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. Lets dive in!

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