How to Achieve Tax-Exempt Status
Confusing IRS requirements shouldn’t stand in your way of doing important work! Learn more about filing for tax-exempt status.
Overcoming the Limitations: Challenges of Using Off-the-Shelf Accounting Software for Nonprofits
While off-the-shelf accounting software may seem like a cost-effective solution, it often falls short in meeting the specific requirements of nonprofit organizations, leading to various challenges. These generic systems typically lack the specialized features necessary for detailed fund tracking, grant management, and reporting that nonprofits require. As a result, organizations may face difficulties in maintaining financial transparency, reporting accurately to stakeholders, and ultimately, in achieving their mission effectively.
What is Nonprofit Enterprise Risk Management
A solid ERM plan can help your nonprofit to save money and emerge from crises stronger than ever!
5 Ways a Virtual Accountant Can Help with a Church’s Finances
Wondering whether your church really needs accounting services? Here are 5 ways a virtual accountant can help improve your church finances.
Is Your Financial Reporting System Still Working for You?
Take a look at some of the ways you can assess your reporting system and make changes to adapt to your individual needs.
Decoding the Essentials: Key Components of Nonprofit Financial Statements
In this article, we will delve into the key components of nonprofit financial statements, exploring their purpose, structure, and how to interpret the information they convey.
It’s been three years since COVID-19 hit. How have nonprofit finances changed?
It’s been three years since the COVID-19 pandemic “stopped the world.” In its wake, we have seen a significant, foundational impact on economies worldwide — and the nonprofit sector is no exception. From reduced funding and flat budgets to a surge in demand for services, nonprofits were challenged to adapt and rebuild on a massive scale. Even now, after the pandemic has seemingly faded into the past like a bizarre alternate reality, nonprofits are still feeling pressure from the impact of inflation on donors, in the ending of much emergency federal financial support, and in the scarcity of available (or retainable) talent. In this blog post, we'll explore a few pieces of how nonprofit finances have changed in the past three years since the pandemic, and what long-term effects you can consider as you navigate your own nonprofit’s finances. It’s been three years since the COVID-19 pandemic “stopped the world.” In its wake, we have seen a significant, foundational impact on economies worldwide — and the nonprofit sector is no exception. From reduced funding and flat budgets to a surge in demand for services, nonprofits were challenged to adapt and rebuild on a massive scale. Even now, after the pandemic has seemingly faded into the past like a bizarre alternate reality, nonprofits are still feeling pressure from the impact of inflation on donors, in the ending of much emergency federal financial support, and in the scarcity of available (or retainable) talent.
Questions to Ask an Accounting Firm before Working Together
The best way to find the right accountant for your company is by simply asking questions
It’s Never too Late to Get Your Nonprofit’s Finances in Order!
A lack of order in finances can keep nonprofits from succeeding but it's never too late to get your nonprofit’s finances in order.