The Charity CFO

FEBRUARY 13, 2025

As a nonprofit leader, you’re passionate about your mission. But to truly make an impact, you need to master the financial skills that will keep your organization thriving. At The Charity CFO, we’ve seen firsthand how understanding these key areas can transform your nonprofit’s financial health.

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Nonprofit Strategic Planning CFO Budgeting 52

The Charity CFO

JANUARY 15, 2025

Nonprofit success depends on many things. In the latest episode of A Modern Nonprofit Podcast, host Tosha Anderson sat down with Paul Morris, Executive Fundraising Coach at Auxilia , to discuss the critical partnership between finance and development in nonprofits. Learn more about compliance requirements for nonprofits here.

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Nonprofit Finance Budgeting Leadership 52

The Charity CFO

MARCH 20, 2025

The Silent Threat Lurking in Your Nonprofit Think your nonprofit is safe from fraud? Fraud happens in nonprofits far more often than leaders realizeand its not just the obvious scams. Its the trusted employees padding expense reports, the volunteer quietly redirecting donations, the longtime bookkeeper creating fake vendors.

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Nonprofit Auditing Accounting Standards CFO 52

The Charity CFO

FEBRUARY 19, 2025

The Power of Mission Clarity in Nonprofit Fundraising In this enlightening episode of A Modern Nonprofit Podcast, host Tosha Anderson engages in a thought-provoking conversation with Erin Straza, CEO and Chief Donor Engagement Strategist for nonprofits at ErinStraza.com.

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Nonprofit Communication CFO Prioritization 52

The Charity CFO

FEBRUARY 26, 2025

In the latest episode of A Modern Nonprofit Podcast, host Tosha Anderson sits down with Drew Reynolds, Principal Consultant at Common Good Data , to explore the critical intersection of data, storytelling, and fundraising in the nonprofit sector. And what did you learn from it?”

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Nonprofit Strategic Planning Problem Solving Education 52

The Charity CFO

MARCH 6, 2025

The Importance of Setting Goals and Tracking Them in Nonprofit Management As nonprofit leaders, one of our biggest responsibilities is to set clear expectations, measure progress, and hold teams accountable. Why Nonprofits Need Data KPIs allow nonprofit leaders to: Set measurable goals for fundraising, programs, and operations.

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Nonprofit Accounting CFO Compliance 52

The Charity CFO

DECEMBER 23, 2024

Successful nonprofits and for-profit businesses alike use a variety of key performance indicators (KPIs) to help track their organizations performance. This guide will explore some of the most common nonprofit KPIsincluding how to calculate themto help you pick the right KPIs for your nonprofit.

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Nonprofit Numbers Profit and Loss Concentration 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

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

MAY 6, 2022

According to The Nonprofit Times, almost 80% of all nonprofit revenue comes from the US government in the form of federal grant funding or fees for services. Your financial system must be in good working order before you even consider applying for federal funding. Are my finances ready to apply for federal grants?

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Nonprofit Auditing Financial Systems CFO 119

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. A bookkeeper records and organizes financial data; an accountant interprets and presents that data. .

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Nonprofit Invoicing General Ledger Accounting 98

The Charity CFO

APRIL 29, 2022

Many nonprofit organizations both large and small need to undergo a financial statement audit every year. Preparing for a nonprofit audit can be overwhelming and anxiety-filled, especially if it’s your first audit or you don’t have a strong and experienced financial team. What is a financial statement audit?

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Nonprofit Auditing General Ledger Reconciliations 105

The Charity CFO

SEPTEMBER 28, 2022

If you manage a nonprofit, you know very well that every day there are a million and one things to be done. But it’s often seen as “busywork,” it rarely makes the priority list, and under-staffed nonprofit teams often fall behind. But nonprofit bookkeeping doesn’t have to be so stressful.

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Nonprofit Invoicing Accounting CFO 105

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. .

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Nonprofit Finance Auditing Accounts Payable 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. . After all, their financial reports showed they had much more revenue than expenses.

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Nonprofit Accounting CFO Accounts Payable 105

The Charity CFO

OCTOBER 19, 2022

In this episode, A Modern Nonprofit Podcast host Tosha Anderson comes to you directly, to talk about the 5 biggest myths she’s encountered time and again while working with nonprofits. Don’t be misinformed, join Tosha as she reveals the truth behind concepts that tie nonprofit founders, board members, and bookkeepers in knots.

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Nonprofit Accounting CFO Financial Reporting 95

The Charity CFO

MARCH 13, 2023

Fundraising ideas for nonprofits are one of the more exciting ways to add needed momentum to your mission. The idea behind nonprofits is to support the public good. million nonprofits in the United States, there are countless organizations available to provide shelter, medical assistance, and education, you name it! With over 1.3

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Nonprofit GAAP CFO Accounting 98

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. But, in practice, the terms fiduciary duty or financial oversight are a bit ambiguous. And they create a lot of confusion for people new to the nonprofit sector.

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Nonprofit Auditing Compliance Budgeting 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 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

OCTOBER 1, 2024

Welcome to another Modern Nonprofit Podcast , with our host as always Tosha Anderson! Jennifer is at the top of her game, helping healthcare, senior living, and nonprofit organizations implement vision and data-driven strategies to assist with their growth. Do You Struggle to Make Sense of Your Financial Statements?

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Strategic Planning Nonprofit Planning Leadership 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!

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Nonprofit Auditing Accounting GAAP 96

The Charity CFO

JANUARY 31, 2022

The Statement of Activities is the Income Statement of a nonprofit organization. You may also know it as a profit and loss statement or income and expense report. Simply, it reports your organization’s revenue and expenses during a specific period and the difference between them. . It shows you the “profit” of your nonprofit.

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Nonprofit Profit and Loss GAAP Accounting Principles 98

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. But what financial reports are most important to build that trust through transparency with your board of directors?

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Nonprofit Financial Reporting Budgeting CFO 52

The Charity CFO

MARCH 31, 2023

The IRS does not require nonprofit audits in most cases, however, they may periodically request an audit (examination) or a compliance check. Should My Nonprofit Obtain an Independent Audit? Do your research and select Firms that specialize in nonprofits. With appropriate planning, they can go smoothly.

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Nonprofit Auditing Compliance CFO 98

The Charity CFO

APRIL 20, 2023

How can nonprofit accounting software help your organization with efficiency? For-profit companies have long used accounting software to track their financial transactions and monitor their bottom lines. 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

FEBRUARY 7, 2024

John Renouard is the founder and executive director of the nonprofit organization, WHOlives. Like many nonprofit entrepreneurs, John’s career path wasn’t centered around becoming a 501c(3) director. John couldn’t either and so his nonprofit, WHOlives, was created. Do You Struggle to Make Sense of Your Financial Statements?

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Nonprofit Problem Solving Economics CFO 97

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

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

JANUARY 25, 2022

What is the Statement of Financial Position? The Statement of Financial Position is the Balance Sheet of a nonprofit organization. It gives you a snapshot of a nonprofit’s financial health at a point in time by displaying what the organization owns (assets), what it owes to others (liabilities), and its value (net assets).

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Nonprofit Auditing Accounting CFO 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. So you can understand what’s happening in your business and communicate effectively with your board members, donors, and financial team. with this overview of nonprofit accounting basics. . And guess what?

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Nonprofit Accounting Profit and Loss Accounts Payable 98

The Charity CFO

JULY 30, 2024

So, Alyssia started looking for a career in the nonprofit space. Between these two roles, she learned in tremendous detail about the nonprofit industry and gained confidence in how these organizations can work together to solve the world’s most complex problems. Do You Struggle to Make Sense of Your Financial Statements?

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Nonprofit Leadership Education CFO 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

NOVEMBER 3, 2022

Likely to the dismay of many nonprofit leaders, nonprofit organizations must practically live and breathe bureaucracy to maintain their tax-exempt status and ensure the continuation of their mission. What is the Form W-9 for Nonprofits? Reasons Your Nonprofit Might Need to Fill the Form W-9. The type of entity.

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Nonprofit Numbers CFO Accounting 98

The Charity CFO

APRIL 2, 2025

When it comes to Federal Single Audits , nonprofits often make costly mistakes that lead to compliance issues, financial weaknesses, and material deficiencies. Below, we break down the top audit findings and what nonprofits need to know to stay compliant. Make sure your documentation is complete.

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Auditing Nonprofit Compliance CFO 52

The Charity CFO

FEBRUARY 25, 2022

If you’re brand new to nonprofit accounting, the Chart of Accounts might be the best place to start. It’s a list of the accounts you use in your organization to track your financial transactions. How to Organize a Nonprofit Chart of Accounts . Equity is referred to as Net Assets in the nonprofit world.

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Nonprofit Accounting Accounts Payable GAAP 98

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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