Giving Tuesday Is November 29. Here’s How Your Church Can Prepare

With Giving Tuesday just around the corner, there are several ways your church can prepare for full participation but be aware of donor impact on your overall accounting procedures. In the digital age, tracking donors and donations has become more complex, depending on the way your church accounting is set up.

Continue ReadingGiving Tuesday Is November 29. Here’s How Your Church Can Prepare

6 Risks Facing Nonprofit Organizations Everyday

Nonprofit organizations face similar risks as for-profit businesses. However, nonprofits must navigate around tight budgets while honoring their donors’ intentions. This article details 6 risks facing nonprofit organizations on a daily basis.

Continue Reading6 Risks Facing Nonprofit Organizations Everyday

It’s almost Tax Day. What does the tax season mean for nonprofits?

Tax season is upon us, but if you’re a tax-exempt organization, what does that mean for you? Read our article about all the relevant information you need for filing as a nonprofit: 

Continue ReadingIt’s almost Tax Day. What does the tax season mean for nonprofits?

Changes to NFP reporting of gifts-in-kind

There is a new emphasis and an upcoming required change in how your NFP financials will present and disclose gifts-in-kind. Accounting Standard ASU No. 2020-07 has mandated this change. It will be effective for annual periods beginning after June 15, 2021. This Accounting Standard improves transparency for gift-in-kind transactions by requiring the following:

Continue ReadingChanges to NFP reporting of gifts-in-kind

Open Books: How Cultivating an Environment of Financial Transparency Builds Trust in Your Nonprofit

As long as your financial management is protected and handled by a professional staff, financial transparency can offer key benefits to your nonprofit.

Continue ReadingOpen Books: How Cultivating an Environment of Financial Transparency Builds Trust in Your Nonprofit