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.

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Do you know the nonprofit filing requirements this tax season? 

Tax season is here. Is your nonprofit ready? Let’s go over the basics of nonprofit filing so you can confidently file returns in 2023!

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What Can Nonprofits Learn From Patagonia’s $3 Billion Gift?

Patagonia’s recent gift to a nonprofit organization committed to fighting climate change has many other nonprofit’s questioning how and why this particular nonprofit was the chosen one. Read on to discover a few important takeaways from Patagonia’s $3 billion gift as we approach a new year of business:

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Here Are The Biggest Myths About Outsourced Bookkeeping To Watch Out For

Budgeting and forecasting require time. Finding someone within your organization with the ability to look at data and strategically plan for your ministry’s future profit and loss can be difficult. If you don’t have the time, resources, or understanding to tackle this job on your own, an outsourced bookkeeper can be an easy solution. Let’s debunk a few myths before you decide:

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Forecasting For Fall: A Roadmap For Your Church’s Financial Planning This Fall

In recent years, we’ve found that church roadmaps are getting tougher to build and forecasts are becoming harder to predict. All businesses have been impacted by the pandemic, for example, but most of those businesses are not directly reliant on outside or loyal donations to continue thriving. Read on to discover the 4 steps to building your church’s financial plan, which include eliminating virtual bookkeeping myths and empowering you to prioritize your mission.

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