The Charity CFO

NOVEMBER 17, 2022

Financial planning and budgeting are vital for the success and sustainability of any nonprofit organization. . That’s why it’s important to start thinking about your budget for 2023 now. Budgeting should go beyond simply tracking money in and money out. . Intro to Budgets for Nonprofits.

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The Charity CFO

OCTOBER 14, 2024

If you want to scale a nonprofit organization, it’s going to take a lot of discipline and patience. On a recent episode of the Modern Nonprofit podcast, host Tosha Anderson sat down with Sarah Silvestri, co-founder of Executive Arm , to discuss the challenges and strategies for scaling nonprofit organizations.

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The Charity CFO

APRIL 20, 2023

How can nonprofit accounting software help your organization with efficiency? However, nonprofit organizations face unique accounting challenges and not all commercial accounting software may be equipped to handle. Where to start with nonprofit accounting software Nonprofits have to comply with strict financial accounting standards.

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The Charity CFO

OCTOBER 28, 2024

In a recent episode of A Modern Nonprofit Podcast, host Tosha Anderson sat down with Dr. Tiffany Slater, an nonproift HR expert and founder of HRTailorMade. The conversation centered around common HR risks faced by nonprofit organizations and best practices for avoiding potential pitfalls. Want to jump right in?

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The Charity CFO

MARCH 28, 2024

Your nonprofit accounting system might not be the most exciting part of your organization, but it’s one of the most important aspects. An effective nonprofit accounting system also helps your organization stay transparent, manage funds wisely, and build trust with donors and the public.

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The Charity CFO

JULY 3, 2024

The middle of the year is the perfect time to pause and reflect on your nonprofit organization’s financial health. A midyear financial review helps you identify problems early and align your nonprofit’s financial performance with planned goals. Step 2: Analyze budget variances. Step 4: Evaluate cash flow and liquidity.

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The Charity CFO

MAY 31, 2024

Transparency and accountability are two of the most important factors in nonprofit accounting. Being transparent in your nonprofit accounting helps build trust in your organization. For-profit businesses also call the statement of financial position a balance sheet, and many nonprofits do the same.

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The Charity CFO

SEPTEMBER 2, 2022

Not surprisingly, this above-average employee turnover impacted nearly every industry, but it has hit nonprofits and financial professionals particularly hard. . However, nonprofit accountant turnover is not a new problem in the sector. Why Do Nonprofit Accountants Quit? Why Do Nonprofit Accountants Quit? Low salaries.

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The Charity CFO

MAY 22, 2024

What do many successful nonprofits have in common? In nonprofits, managing your finances effectively is essential to running a sustainable organization. Not only does good financial management help keep your organization running, but it also helps bolster trust in your nonprofit. What is the Role of a Nonprofit CFO?

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The Charity CFO

JULY 1, 2024

Choosing the right accounting services is crucial for the financial health of your nonprofit. The right nonprofit accountant helps your organization properly manage its finances, which improves trust and transparency with stakeholders and donors. This can be especially important when it comes to reporting and filing requirements.

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The Charity CFO

SEPTEMBER 22, 2022

Nonprofits exist to meet a societal need or provide a public benefit. Unlike an organization whose primary goal is to make money, nonprofits exist to meet a community’s needs. That said, while it’s not your primary purpose, your nonprofit must find ways to make money. . How do nonprofits make money?

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The Charity CFO

JULY 12, 2024

While many nonprofits start with cash-basis accounting due to its simplicity, this method often falls short of providing a comprehensive view of a nonprofit’s financial health. Cash-basis accounting is most common for smaller nonprofits, where financials tend to be less complicated.

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The Charity CFO

APRIL 18, 2024

It’s no secret that running a nonprofit isn’t always easy, especially if you don’t know what challenges await you in the coming months. Luckily, we’ve put together a list of the five most common challenges for nonprofits in 2024. Let’s look closer at the challenges nonprofits will face in 2024–and how to solve them!

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The Charity CFO

NOVEMBER 15, 2023

If you’re like most nonprofit leaders, you probably have questions — and possibly mixed feelings — about nonprofit debt. That’s because you’ve also probably received mixed messages about nonprofits and debt. Nonprofits aren’t often encouraged to take on debt. the why behind nonprofit debt.

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The Charity CFO

AUGUST 24, 2022

The high-performing organizations we work with all ensure that nonprofit financial management is a collaborative effort. Assign each department responsibility for their own budget. You can even break it down further and give individual program managers responsibility for the budget of their program or programs.

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The Charity CFO

MAY 18, 2022

Financial oversight is one of the primary roles of your nonprofit board of directors. . Every nonprofit is required to have a board of directors. And they create a lot of confusion for people new to the nonprofit sector. Nonprofits are fundamentally different from other businesses. What is Financial Oversight?

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The Charity CFO

OCTOBER 4, 2022

million nonprofits globally. To ensure that a nonprofit runs efficiently, several people work behind the scenes to make things much easier, and one of those people is the operations manager. The operations manager might be the secret weapon of the most successful nonprofits we know. There are more than 1.54

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The Charity CFO

APRIL 22, 2024

In many nonprofits, burnout is the emotional, physical, and mental exhaustion of employees due to prolonged stress. Understanding Burnout in Nonprofit Organizations Burnout at work can happen to anyone. Consider these four strategies to improve your workplace culture and reduce burnout in your nonprofit employees.

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The Charity CFO

MAY 31, 2022

It’s a myth that all stakeholders need to be experts in every aspect of nonprofit finances. Even on nonprofit financial committees, some members may be skilled in accounting, others in banking, and others in investing or financial analysis. Because the basics of nonprofit finances are easy to grasp. . Is that the case here?

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The Charity CFO

DECEMBER 7, 2023

Welcome back to the Modern Nonprofit Podcast at The Charity CFO. Whether you are a consistent listener or joining for your first time, the podcast dives deep into the world of nonprofits, and sometimes for profit spaces to share industry specific principles, unique business practices, and much more. Based out of St.

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The Charity CFO

JUNE 27, 2024

Leading a nonprofit organization isn’t just about passion–it’s about effective leadership. Nonprofit executive directors play an irreplaceable role in steering their organizations toward success. This guide will explore key strategies and insights to help you excel as a nonprofit executive director.

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The Charity CFO

JANUARY 12, 2024

Financial forecasting is a term you’ll hear thrown around in the business world quite often—but in the world of nonprofits, it can be difficult (and even downright impossible) to plan your organization’s finances with any degree of certainty. What Is a Financial Forecast for Nonprofits?

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Centage

NOVEMBER 8, 2023

Building and maintaining an effective budget is daunting no matter what industry you’re in — but financial planning for nonprofits is especially tough. The specific circumstances of how nonprofits operate and get funded adds a layer of complexity to their FP&A processes. No programming. No formulas.

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The Charity CFO

AUGUST 15, 2023

The nonprofit sector is full of rewarding and impactful careers because it plays a crucial role in addressing various social, environmental, and humanitarian challenges. In this section, we will debunk the three most common nonprofit accounting myths. However, most of it is actually the same. However, most of it is actually the same.

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VCFO

JUNE 29, 2023

Restoring and Ensuring Effective Nonprofit Finance Practices Decades ago, healthcare trailblazer Sister Irene Kraus moved her mantra of “No Margin. And when shortcomings and lapses in those crucial cornerstones persist in a nonprofit, so too do risks to the organization and those they serve. No Mission.” into the limelight.

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The Charity CFO

JUNE 12, 2024

Today we welcome Josi Garfield on the Modern Nonprofit Podcast for a topic that is particularly modern – artificial intelligence (AI). As the founder of Branch Out Social , a platform dedicated to empowering nonprofits through social media and marketing strategies, Josi has her finger on the pulse of digital marketing trends.

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The Charity CFO

FEBRUARY 4, 2022

Do a Google search on nonprofit bookkeeping, and you’ll find page after page of articles on nonprofit accounting. Because while nonprofit bookkeeping and accounting are related, they’re not the same thing. Furthermore, nonprofit bookkeeping differs in some critical ways from for-profit bookkeeping too.

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The Charity CFO

FEBRUARY 17, 2022

Why does your nonprofit need an operating reserve? . A report released last year by Candid and the Center for Disaster Philanthropy estimated the worst-case scenario would lead to the closure of 38% of nonprofits in the United States. What is a nonprofit operating reserve? . How well does your organization budget?

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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.

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The Charity CFO

JUNE 26, 2024

Dana and Tosha’s conversation today will focus on digital marketing and how this tool can be leveraged, especially in nonprofit organizations, to assist in fundraising. This misconception even stretches into nonprofits. ’ – Some nonprofit (probably). Marketing is a fun game in the business world.

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The Charity CFO

APRIL 2, 2024

Managing a nonprofit can be complex, especially when it comes to nonprofit accounting. Nonprofits face unique financial challenges and responsibilities that require specialized expertise and support. Finding the right accounting partner for your nonprofit is essential to the financial success of your nonprofit organization.

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The Charity CFO

MARCH 22, 2024

How does your nonprofit make strategic decisions? Additionally, leaders can use data to tell the story of their organizations, giving you a better overall picture of the state of your nonprofit. Learn more about using data for decision-making in your nonprofit in this complete guide. What Does Nonprofit Data Look Like?

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The Charity CFO

DECEMBER 27, 2023

As a small nonprofit, it can be difficult to determine what benefits mean the most to your employees, especially if you’re working within a strict budget. This nonprofit employee benefits guide goes through the most common types of benefits and how you can add them to your benefits offerings. Get the free guide!

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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. What is fund accounting?

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The Charity CFO

JULY 14, 2022

A lot of nonprofit leaders are asking us about how to prepare their organizations for the possibility of a recession. 6 Steps to Recession-Proof Your Nonprofit. 6 Steps to Recession-Proof Your Nonprofit. So we’ll plan a 10% increase for this year and budget based on that.”. Is Your Nonprofit Recession-Ready?

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The Charity CFO

AUGUST 23, 2024

Download the Article For nonprofits, audits are more than just a regulatory requirement–they’re a tool for safeguarding the organization’s mission and financial health. Why is Your Nonprofit Being Audited? Revenue and Donations An organization’s revenue and donations are perhaps the most important aspects of running a nonprofit.

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The Charity CFO

APRIL 5, 2022

But that’s not quite true—nonprofits face a decision between 2 different accounting methods for tracking their financial activity: cash accounting vs. accrual accounting. Is your nonprofit required to use accrual accounting? So which accounting method is right for you? What is the Accrual Accounting Method? Accounts payable.

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