Jun 7, 2022 | Not-for-Profit
A budget is a planning tool that reflects an organization’s programs, mission and strategic plan. The process should begin at least three, maybe even four months before the end of your nonprofit’s fiscal year — you need enough time for the budget to be...
Mar 8, 2022 | Not-for-Profit
At many nonprofits, managers may be spending too much time trying to decide if it’s worth the money to engage a CPA firm to help the organization with its finances. After all, resources are often very limited at nonprofits. However, managers would do well to consider...
Feb 17, 2022 | Not-for-Profit
The regulations on nonprofit auditing vary from state to state. There are federal laws that mandate audits for certain nonprofits too. First and foremost, you should educate yourself on the laws in your state and investigate whether you are legally required to undergo...
Nov 22, 2021 | Not-for-Profit
Charity Navigator is the world’s largest independent evaluator of nonprofit organizations. In July of 2020, the organization released the Encompass Rating System which now allows it to evaluate smaller nonprofit organizations that do not meet the revenue and...
Nov 2, 2021 | Not-for-Profit
Few people start a career in the nonprofit sector because they love finance. However, the higher you rise in your organization, the more you need to know about accounting and budgeting. The first thing you need to understand is the yearly accounting cycle, which...
Oct 12, 2021 | Not-for-Profit, Tax News
The rules governing the deduction of charitable contributions can be pretty strict. However, legislation has relaxed a number of them as long as donors take advantage of them by the end of 2021. So, both individual and businesses taxpayers should get up to speed on...
