The Charity CFO

JANUARY 31, 2022

The Statement of Activities is the Income Statement of a nonprofit organization. As a nonprofit, you call the difference between revenue and expenses the change in net assets. . NOTE: For a nonprofit organization, revenue also includes non-cash gifts, like in-kind donations of goods or services. Or profit. .

Nonprofit 98

Nonprofit Profit and Loss GAAP Auditing 98

The Charity CFO

JANUARY 5, 2022

Functional expense reporting confuses many first-time nonprofit bookkeepers and executives. But it is need-to-know-information in the nonprofit world. Because you’re required to report functional expenses to complete your IRS 990 and maintain nonprofit status. Don't hire the wrong accountant for your nonprofit!

Nonprofit 96

Nonprofit Auditing Accounting GAAP 96

The Charity CFO

JANUARY 21, 2022

Nonprofits often receive donations or grants designated for a specific purpose–like a donation to a specific program or grant you have to spend within a calendar year. And the issue of restricted funds presents unique bookkeeping and accounting challenges for a nonprofit that a for-profit company doesn’t face.

Nonprofit 98

Nonprofit Accounting GAAP Accounting Principles 98

The Charity CFO

APRIL 13, 2023

Nonprofit financial management is one of the primary concerns for organizations. Nonprofits are special types of organizations, in both their structure and their purpose. This meaning is the driving force behind what nonprofit organizations do day in and day out. They live in the hearts of many as symbols of good in the world.

Nonprofit 52

Nonprofit Compliance Accounting Standards Budgeting 52

The Charity CFO

NOVEMBER 10, 2022

What should you look for when evaluating nonprofit accounting services? Nonprofit organizations exist to further a mission or goal. The truth is, many nonprofits tend to fumble when it comes to their books. . Benefits of Nonprofit Accounting Services. Saves time and money. Boosts donor confidence.

Nonprofit 52

Nonprofit Accounting Auditing GAAP 52

The Charity CFO

JANUARY 26, 2023

Nonprofit leaders have an especially hard time understanding, preparing and filing their returns. You see, a 501 nonprofit corporation is recognized as tax-exempt by the IRS but this doesn’t mean they are exempt from filing taxes. Fortunately, filing taxes for a nonprofit doesn’t need to be stressful.

Nonprofit 52

Nonprofit Accounting Principles Profit and Loss Auditing 52

The Charity CFO

JANUARY 5, 2023

Many nonprofit organizations tend to let their financial management slip on the backburner as they get busy fulfilling their mission. Without a good grasp of your finances, your nonprofit risks: Exposure to fraud. Well, the answer lies in understanding and implementing these 7 essentials of nonprofit financial management.

Nonprofit 52

Nonprofit GAAP Budgeting Auditing 52

The Charity CFO

JANUARY 13, 2022

In-kind donations help your nonprofit get the resources you need to carry out your programs without asking for more cash. But accounting for in-kind donations presents its own unique challenges. Accounting for in-kind donations isn’t just important; it’s required for many nonprofit organizations. .

Nonprofit 98

Nonprofit Accounting GAAP Accounting Principles 98

The Charity CFO

JANUARY 18, 2022

Zack joins us after two decades as a not-for-profit accountant in both public accounting and the nonprofit industry. In this new role, he will serve as one of our in-house experts on existing and emerging nonprofit accounting standards and auditing best practices. Louis and nationwide.

CFO 52

CFO Nonprofit GAAP Accounting Principles 52

The Charity CFO

MAY 10, 2022

If your nonprofit uses donations of supplies, services, and even time to help fund your operations, you need to know about recent changes in accounting standards for in kind donations. Typically, a CPA would prepare these statements as part of a yearly review or audit. What exactly is changing about in kind donation reporting?

Accounting Standards 98

Accounting Standards Accounting GAAP Nonprofit 98

CFO Leadership

AUGUST 12, 2021

Her consulting experience included audit and risk advisory services, project management, business process improvement and information technology, primarily serving financial institutions. Denye has over fifteen years of accounting and finance experience and has spent eight years in the non profit industry. Denye received his B.A.

Leadership 98

Leadership CFO Financial Planning and Analysis (FP&A) Finance 98