The Charity CFO Blog
Nonprofit Financial Education, Trends & News
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6 Nonprofit Bookkeeping Tips to Save You Time & Money
If you manage a nonprofit, you know very well that every day there are a million and one things to be done. And, of those a million and one things, bookkeeping is not at the top of your favorite things to do list. Good bookkeeping requires extreme accuracy and...
How Do Nonprofits Make Money?
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...
Understanding Unrelated Business Income in Nonprofits
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. But what if I told you that’s not always true? It’s true that due to their uniquely valuable societal contributions, such as...
Why branding matters to the modern nonprofit with Beth Brodovsky
In this episode, Tosha will walk you through the most common misconceptions about nonprofit audits to let you know exactly what you can expect (and NOT expect) from a nonprofit audit before you commit. Audits scare the daylights out of nonprofit founders. But at The...
How To Avoid Nonprofit Accountant Turnover
I’m sure you’ve heard about the “Great Resignation” that’s been taking place over the last year or so. Not surprisingly, this above-average employee turnover impacted nearly every industry, but it has hit nonprofits and financial professionals particularly hard. ...
The Truth About Nonprofit Audits
In this episode, Tosha will walk you through the most common misconceptions about nonprofit audits to let you know exactly what you can expect (and NOT expect) from a nonprofit audit before you commit. Audits scare the daylights out of nonprofit founders. But at The...
ASC 606 Nonprofit Revenue Recognition Rules for Exchange Transactions
All US businesses, for-profit and nonprofit, were subject to new revenue recognition standards starting by 2019. These new standards are detailed in ASC 606 and impact all companies that contract with customers to transfer goods or services. Nonprofit accounting...
The Secret To Better Nonprofit Financial Management
Managing a nonprofit’s finances is not a one-person job. Sure, your financial team– your bookkeeper, accountant, and CFO (if you have one)–take the lead role in managing your finances. But keeping financial responsibility “siloed” within the accounting team is both...
Can You Fundraise While Your 501(c)(3) Application Is Pending?
Beyond your mission, you need two big things you need to start a nonprofit organization– money and paperwork. Raising funds is critical to getting your project off the ground, but the paperwork can stand in your way-- while the IRS says that 501(c)(3) applications...
The Psychology of Fundraising: Why Do Donors Give?
Why do people donate to nonprofits? After all, giving away money isn’t rational. Moreover, from a human behavior standpoint, the psychology of fundraising doesn’t appear to make sense. And yet, people across cultures and contexts give generously to organizations that...
See Financial Statements Through Your Accountant's Eyes
Get our FREE guide to nonprofit financial reports, featuring illustrations, annotations, and insights to help you better understand your organization's finances.
