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

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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The Charity CFO

MARCH 27, 2024

As a nonprofit leader, you’ve probably heard of QuickBooks or may have even used it before. And you might be wondering if you can use QuickBooks for your nonprofit accounting. The answer is yes, QuickBooks Online can be configured for nonprofit use. Nonprofits also need to record expense receipts.

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Nonprofit Accounts Payable Compliance Invoicing 40

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. That’s why you need a strong accounting partner who specializes in nonprofits.

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Nonprofit Accounting Accounting Firms Communication 52

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

JULY 13, 2022

This article will summarize the principal criteria the top 3 charity watchdogs use to evaluate your nonprofit organization. Charity Watchdogs is a term used to describe various organizations attempting to measure the quality of a nonprofit organization. They’ve been providing ratings for nonprofits in some form since the 1920s.

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Nonprofit CFO Accounting Strategic Planning 98

The Charity CFO

MAY 11, 2023

Bookkeeping is a critical component of running a successful nonprofit organization. It involves the management of financial transactions and the maintenance of accurate records to ensure that your organization remains financially healthy and compliant with the law.

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Nonprofit Communication Auditing GAAP 52

The Charity CFO

FEBRUARY 27, 2023

Does your organization get bogged down with nonprofit treasurer duties? Nonprofits don’t exist for the purpose of earning profits. With that being said, money is central to a nonprofit’s success. How does a nonprofit manage its money? One of the most important board members for a nonprofit is the treasurer.

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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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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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Centage

MAY 8, 2023

Lowe, CPA, CGMA As a nonprofit finance leader, you are accountable to many stakeholders – especially your Board of Directors. Your role is critical and complex as you know and understand the financial operations of your organization inside and out – and are ultimately responsible. and “what is it you want us to do about it?”

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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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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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The Charity CFO

NOVEMBER 23, 2022

The finance director role is critical to the success of any nonprofit, making it one of the most important hires an organization can make. They are responsible for the financial health of the organization. They create and maintain financial records, prepare financial reports, and oversee the organization’s budget.

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Nonprofit Finance Strategic Planning Budgeting 52

Collectiv

JUNE 13, 2023

Nonprofit organizations are essential for our communities, yet they’re often underfunded. Data analysis is a treasure trove for non-profits. Let’s look at three ways to leverage Power BI for nonprofits so you can use your data effectively. Build Trust in the Community Data is a powerful tool.

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Centage

NOVEMBER 27, 2023

As businesses, nonprofits have a unique set of needs and challenges. Nowhere is that more apparent than in financial planning. Budgeting and financial forecasting are two of the most important business activities for nonprofit FP&A.

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Nonprofit Budgeting Forecasting Planning 40

The Charity CFO

OCTOBER 9, 2024

Modern nonprofit leaders are always looking for ways to use technology to make everyday tasks easier. One of the most sought-after tools is a platform or software to integrate your fundraising and accounting data seamlessly. For nonprofits, GAAP ensures transparency, accuracy, and consistency in financial statements.

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Accounting GAAP Nonprofit Accounting Principles 52

The Charity CFO

JULY 19, 2024

Common nonprofit bookkeeping tasks include: Recording donations Entering accounts payable and receivable Organizing and reviewing bank statements Maintaining the general ledger These everyday financial duties help bookkeepers provide a clear and up-to-date picture of the nonprofit’s financial status.

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The Charity CFO

AUGUST 21, 2024

The relationship between fundraisers and accountants in a nonprofit organization can be challenging. Fundraising and accounting departments provide vital services to the organization, but when they fail to communicate, it can lead to financial errors. For a nonprofit to thrive, these two departments have to work together.

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The Charity CFO

JULY 29, 2024

Your committee might also lack the ability to accurately interpret financial data or reports, making the committee less effective overall. Consider providing financial committee members with financial training to improve their financial literacy. Need help with nonprofit finances?

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Finance Nonprofit Communication Budgeting 52

The Charity CFO

AUGUST 28, 2023

Running a successful nonprofit requires many diverse skill sets, from experts in your particular field to fundraising and event pros. Unfortunately, one area where many otherwise thriving nonprofits lack experience is financial and money issues. That’s where advisory finance committees come in.

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PYMNTS

APRIL 12, 2016

Nonprofits can face greater pressure than their for-profit peers when it comes to compliance. Making sure the books add up properly is key to keeping their legal nonprofit status, and that means cash management is paramount. Nonprofits are well-positioned to benefit from virtual credit cards,” the report concluded.

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Nonprofit Accounts Payable Reconciliations Cash Management 40

The Charity CFO

FEBRUARY 8, 2024

Does the idea of a financial audit on your nonprofit leave you feeling nervous? For many nonprofits, a full financial audit can help ensure the accuracy of their financial recordkeeping. Luckily, not all financial situations require an audit. Do You Struggle to Make Sense of Your Financial Statements?

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Auditing Nonprofit Compliance CFO 52

The Charity CFO

MAY 2, 2022

How financially healthy is your organization? Just by reading these three section of the 990, your donors can get a pretty accurate picture of the financial health of your nonprofit. . It’s another chance for you to control the story your donors will read about your nonprofit–so don’t take it lightly! Parts I, VII, and X.

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PYMNTS

NOVEMBER 23, 2020

There’s no shortage of consulting advice and press clippings that will state the importance of actionable data for companies as a selling, operational and marketing strategy. Big data, it used to be called. Last week, the Department of Justice gave the green light to Mastercard’s $825 million acquisition of data aggregator Finicity.

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PYMNTS

SEPTEMBER 19, 2019

Our agreement with Plaid, a leading data platform for many financial management apps, will help our customers share their financial data with these apps with greater control and transparency.”. The API is aligned with the Financial Data Exchange , a nonprofit providing a standard for the finance industry. .

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CFO Plans

SEPTEMBER 24, 2024

These platforms offer real-time financial reporting, automated accounting services, and seamless integration with other business tools. With cloud-based solutions, small businesses can access their financial data from anywhere, at any time, ensuring they stay on top of their financial health.

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PYMNTS

FEBRUARY 5, 2020

The ACH payments and financial data exchange nonprofit NACHA is developing a digital platform to streamline payments by facilitating data sharing via a centralized hub, NACHA announced Wednesday (Feb. The NACHA Phixius platform enables connected service providers to securely exchange payment-related data.

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PYMNTS

DECEMBER 5, 2019

The malware was used to lift banking credentials, financial data and personal information from victims, and for deploying ransomware. The duo allegedly — and with the help of more than a dozen others — worked to deploy malware known as Dridex (aka Cridex and Bugat) and for committing wire and bank fraud.

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PYMNTS

DECEMBER 5, 2019

The malware was used to lift banking credentials, financial data and personal information from victims, and for deploying ransomware. The duo allegedly — and with the help of more than a dozen others — worked to deploy malware known as Dridex (aka Cridex and Bugat) and for committing wire and bank fraud.

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Banking Treasury Nonprofit Advertising 52

PYMNTS

MARCH 13, 2019

To compete, finance providers should be utilizing data-derived insights to secure their customer base, improve their service and capitalize on their brand strength.” According to a release by the companies, TRADEDATA will offer data feeds selected by FinTech Sandbox to develop and test new financial products and services.

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Banking Nonprofit Startups Financial Data 62

PYMNTS

MARCH 7, 2017

Three broad areas of special interest to the bureau were discussed – encouraging consumer-friendly innovations, the issue of consumer control over their personal financial data and the benefits and risks of using unconventional sources of data to underwrite loans and provide access to credit to more consumers.

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Nonprofit Compliance Financial Data Startups 49

Centage

OCTOBER 3, 2022

Limited Visibility To conduct financial data analysis, your business needs to test various hypothetical scenarios. If your business is outgrowing Excel, you are not alone, and it may be time to switch to another financial forecasting solution. A single miscalculation could lead to significant monetary loss.

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PYMNTS

JUNE 8, 2018

Operating in both California and India, Crowdera provides nonprofits a way to raise funds via crowdfunding on its platform. The company focuses its operating system on SMBs that need to manage eCommerce and B2B wholesale distribution operations, including inventory and order management, financial data management and sales.

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Construction B2B Startups Finance 46

Centage

OCTOBER 3, 2022

To conduct financial data analysis, your business needs to test various hypothetical scenarios. If your business is outgrowing Excel, you are not alone, and it may be time to switch to another financial forecasting solution. A single miscalculation could lead to significant monetary loss. Limited Visibility.

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PYMNTS

JUNE 19, 2019

That move includes new rails (the Libra Blockchain), the new currency (Libra), and the new Geneva-headquartered nonprofit (the Libra Association) that will act as its governing network structure and hold the Libra reserves. Virginia Senator Mark Warner expressed worry, given Facebook’s rocky relationship with consumer trust in the U.S.,

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Currencies Nonprofit Banking Accounting 59

PYMNTS

JUNE 19, 2019

That move includes new rails (The Libra Blockchain), the new currency (Libra) and the new Geneva headquartered nonprofit that will act as its governing network structure (The Libra Association) and hold the Libra reserves. The move also includes the first application that will run on those rails, a digital wallet called Calibra.

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