Nonprofit organizations play a crucial role in addressing societal issues and improving the lives of people around the world. However, they often face unique financial management challenges preventing their ability to achieve their missions. …

Choosing the right nonprofit accounting software is crucial to the success and efficiency of your organization. Consider factors such as budget, accounting needs, user-friendliness, and integrations with other tools. When selecting nonprofit accounting software, compliance should be a top priority. …

Reading and understanding nonprofit financial statements is essential for making sound decisions about your organization’s future. If you’ve never read one before, they can be daunting documents. Libsyn Podcast Player Libsyn Podcast Playerplay.libsyn.com This step-by-step guide will teach you everything you need to know about reading nonprofit financial statements. By the end, you’ll be able to…

There are many different types of nonprofit funding, each with its own advantages and disadvantages. In order to succeed, it is important to maximize revenue streams by diversifying your funding sources. This will help you weather any bumps in the road and continue to support your mission. What is nonprofit funding? Nonprofit funding is…

Most nonprofits are required to file IRS Form 990, which can be a daunting task. There are many instructions and requirements that must be followed in order to correctly file the form. If you don’t follow the instructions and requirements for filing IRS Form 990, your nonprofit could face penalties. …

This guide provides tips on accounting for grants, including information on the requirements and benefits of using different methods and accounting software for grant management. By following these tips, you can ensure proper reporting and tracking while maximizing the potential benefits of your grant. What is grant accounting? Grant accounting is the method of…

Net assets, presented in the nonprofit Statement of Financial Position report, reveal total revenue, assets and liabilities. The statement of the nonprofit financial position report provides an overview of what an organization is worth. Net Assets and Liabilities: Statement of Financial Position Likewise, for-profit businesses and nonprofit organizations both prepare financial statements showing assets and liabilities. While for-profit…

Nonprofit accounting is the process of recording, managing, and preparing compliant financial statements for 501(c)(3) organizations. This includes everything from tracking income and expenses to tax returns and generating financial reports necessary for maintaining tax exempt status. What is Nonprofit Accounting? This specialized type of accounting helps nonprofits keep track of their finances. Most…

Donor stewardship involves tracking donations, managing expectations, communicating with donors, and setting up systems to track results. What is donor stewardship? Donor stewardship is a system that helps organizations manage and steward donor resources. This includes tracking donations, managing expectations, communicating with donors, and setting up systems to track results. In simple terms, donor…