The Charity CFO

MARCH 4, 2025

Surviving (and Thriving) in Fundraising: The Nonprofit Wake-Up Call Lets be honestfundraising isnt getting any easier. In fact, if it feels like raising money for your nonprofit has become an uphill battle, thats not just a feeling. He dropped some truth bombs that nonprofit leaders need to hear. So, whats the game plan?

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Nonprofit CFO Budgeting Sales 52

The Charity CFO

DECEMBER 23, 2024

As a nonprofit leader, you’re constantly looking for ways to streamline operations and maximize resources. As a nonprofit organization, there are many pitfalls around payroll and you need to be aware of the rules. Many nonprofits handle payroll in-house or outsource to a payroll provider.

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Nonprofit Compliance CFO Risk Management 52

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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Nonprofit Auditing Compliance Budgeting 105

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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Nonprofit Accounting CFO Budgeting 98

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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Nonprofit Budgeting Auditing CFO 98

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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Nonprofit Accounting Accounting Standards Budgeting 98

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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Nonprofit Finance Auditing Accounts Payable 98

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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Nonprofit Budgeting CFO Accounting 98

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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Nonprofit Invoicing General Ledger Accounting 98

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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Nonprofit Budgeting Compliance CFO 98

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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Nonprofit Budgeting CFO Math 98

The Charity CFO

APRIL 12, 2022

Cash flow isn’t just an issue for small nonprofits that depend on donations to meet payroll each month. A lack of cash on hand impacts nonprofit organizations of all sizes. A few years ago, we were working with a fully-funded nonprofit. . Their budget projected a surplus, and they were hitting those numbers.

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Nonprofit Accounting CFO Accounts Payable 105

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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Nonprofit Accounting GAAP Accounting Principles 98

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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Nonprofit CFO Economics Accounting 105

The Charity CFO

DECEMBER 30, 2021

Contrary to what many people envision, a nonprofit audit doesn’t usually start with a letter from the IRS. Instead, an independent nonprofit audit is something you choose to build trust in your nonprofit organization. An audit can be a critical step for a growing nonprofit that needs to raise increasing amounts of funds.

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Nonprofit Auditing GAAP Accounting Principles 98

The Charity CFO

JANUARY 17, 2022

If you’re like most nonprofit leaders, you’re not researching nonprofit accounting basics to satisfy your curiosity. with this overview of nonprofit accounting basics. . What is nonprofit accounting? The basic accounting principles for nonprofit organizations are the same as accounting for for-profit companies. .

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Nonprofit Accounting Profit and Loss Accounts Payable 98

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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Nonprofit Accounting GAAP Auditing 98

The Charity CFO

MARCH 29, 2024

Do you know the financial health of your nonprofit organization? Knowing where your finances stand is essential to effective nonprofit management. One of the best ways to get a quick read on your organization’s financial health is to compare your nonprofit budget to actual performance.

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Nonprofit Budgeting CFO Prioritization 52

The Charity CFO

FEBRUARY 2, 2022

Every tax exempt nonprofit must file IRS Form 990 (Return of Organization Exempt from Income Tax) every year. That’s right, your nonprofit needs to file an IRS return. In fact, as a nonprofit organization, the expectations for transparency and accountability are higher than those for for-profit businesses. Form 990-N.

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Nonprofit Profit and Loss Auditing Accounting 98

The Charity CFO

SEPTEMBER 14, 2022

If you know only one thing about 501(c)(3) nonprofit organizations , you probably know that they don’t pay federal taxes on their income. . So how do you know if your nonprofit organization has taxable unrelated business income? Not Sure If Your Nonprofit Income Is Taxable Or Not? But what if I told you that’s not always true?

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Nonprofit Profit and Loss Education CFO 98

The Charity CFO

MARCH 24, 2022

Nonprofit fraud makes for great headlines— like the Minnesota nonprofit Feeding Our Future accused this year of squandering $48 million of federal funding on luxurious trips, fancy mansions, and other personal costs. . According to The New York Times , the value of nonprofit fraud is approximately $40-50 Billion each year.

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Nonprofit Profit and Loss Auditing Leadership 98

The Charity CFO

FEBRUARY 16, 2023

Nonprofit budgeting best practices are often the difference between success and failure for the organization. Budgeting is a crucial element of understanding the financial health of your organization. While nonprofit budgeting can seem daunting and complex, it doesn’t have to be.

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Nonprofit Budgeting CFO Leadership 52

The Charity CFO

FEBRUARY 27, 2024

Budget tracking is the process of monitoring your nonprofit’s income and expenses to ensure they stay within your planned budget. Effective budget tracking is essential to financial transparency, efficient resource allocation, and strategic planning for your nonprofit.

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Nonprofit Budgeting Profit and Loss CFO 52

The Charity CFO

APRIL 19, 2022

As a CPA working exclusively with nonprofits and a former nonprofit auditor, I’ve looked at thousands of nonprofit financial statements over the past 10 years. Over the years, I’ve identified a set of 5 nonprofit financial red flags that are fairly common and almost always lead to trouble sooner or later.

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Nonprofit Compliance Auditing Accounting 98

The Charity CFO

JANUARY 5, 2022

Nonprofit leaders often struggle to create an open, trusting culture that supports their staff in executing their mission. If you’re looking for proven ways to engage your team and improve the mindset of your nonprofit team, this episode is for you. Why a “kitchen in the living room” is typical weakness for nonprofit teams (4:58).

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Nonprofit Leadership Investments CFO 98

Centage

MAY 8, 2023

Lowe, CPA, CGMA As a nonprofit finance leader, you are accountable to many stakeholders – especially your Board of Directors. You then have your financial statements – cash flows, performance, budgets and audits. ” The “it” can be anything from investments to budget shortfalls to cash flow challenges. with Susan C.

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Nonprofit Budgeting Finance CFO 98

The Charity CFO

DECEMBER 18, 2024

Federal funding can be an attractive option for nonprofits looking to expand their programs and reach. In this episode of A Modern Nonprofit Podcast, host Tosha Anderson and guest Rachel Schmidt discuss the top five considerations nonprofits should keep in mind when considering federal dollars. Are you ready to expand?

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Nonprofit Auditing Compliance Budgeting 52

Lime Light

DECEMBER 20, 2024

Effective budgeting is vital for nonprofit organizations, ensuring transparency, compliance, and mission alignment amidst complex financial and accounting demands.

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Nonprofit Budgeting Compliance Accounting 52

The Charity CFO

DECEMBER 22, 2021

Ever wondered why so many nonprofits are stuck in their financial struggles that they end up failing their communities? Want to make sure your nonprofit doesn’t suffer the same fate? She helps nonprofits get financially established so they can achieve their goals. And why nonprofits need to learn to put themselves first. (2:47).

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Nonprofit Accounting Budgeting Planning 90

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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Nonprofit Budgeting Forecasting CFO 52

The Charity CFO

JUNE 26, 2023

Whether you’re a new organization or an established one working to get its finances under better control, there are few more important things to get right than your nonprofit operating budget. It serves as the backbone of your nonprofit’s spending, fundraising, and much more.

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Nonprofit Budgeting Benchmarking CFO 52

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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Nonprofit Finance CFO Compliance 67

PYMNTS

FEBRUARY 1, 2021

More consumers are struggling with food insecurity and unemployment, placing greater demand on food banks and other nonprofits. Nonprofits have hit hurdles in raising money, due in part to health concerns that make it unsafe to host in-person fundraising events like benefits, concerts and dinners. Virtual Fundraising.

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Nonprofit Advertising Budgeting Finance 75

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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Nonprofit Accounting Budgeting Compliance 52

The Charity CFO

FEBRUARY 12, 2025

On this episode of A Modern Nonprofit Podcast, host Tosha Anderson welcomed Sheri Chaney Jones , CEO and Founder of SureImpact , to discuss how nonprofits can leverage data to better engage donors and stakeholders. The Shift Towards Impact Investing Sheri highlighted a significant shift in the nonprofit world over the past two decades.

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Nonprofit Leadership Communication Prioritization 52

The Charity CFO

AUGUST 27, 2024

An organization’s Key Performance Indicators (KPIs) provide a clear measure of how well the nonprofit is maintaining financial health while working toward its mission. Many nonprofits must balance their goals with limited resources or strict compliance regulations. Unsure of which KPIs you should be tracking for your nonprofit?

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Nonprofit Budgeting CFO Financial Analysis 52

Centage

NOVEMBER 22, 2021

Building and managing an effective budget and plan can be daunting no matter what industry, but financial planning for nonprofits can be particularly difficult. And while no industry was spared in the wake of the pandemic, nonprofits were hit hard. Nonprofit budgeting software also easily enables driver-based budgeting.

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