For nonprofit organizations, maintaining transparency, accountability, and adherence to regulatory requirements is paramount. Among the various compliance considerations, one crucial concept that every nonprofit should be aware of is private inurement. In this blog, we will delve into the concept of private inurement, its implications for nonprofit organizations, and the importance of understanding and addressing it.

When it comes to compensating nonprofit directors, organizations often face the question of whether to provide stipends or salaries. The decision carries implications for transparency, fairness, and compliance.

More and more nonprofit organizations are opting to outsource certain aspects of their daily operations, including their financial management duties.

Running a nonprofit organization takes passion and talent, but there’s more to building a successful organization than willpower. Nonprofit organizations exist to fulfill a mission, serve a purpose, and reach as many members, communities, or individuals as they can. To serve and grow, nonprofit leaders must look forward to the future. That’s where cash forecasting can help. Creating a cash forecasting process at your organization can help you plan for the future while efficiently managing cash flows today.

Nonprofit organizations are not exempt from dealing with issues of fraud. Since not-for-profit entities keep their focus on funding the organization’s purpose, resources are sometimes spread thin. Nonprofits tend to have a smaller staff than for-profit businesses, which can complicate fraud prevention tactics and make segregating duties and confidential reporting a challenge. However, even in organizations with the smallest staff, there are simple steps you can take to prevent fraud at your organization.

Nonprofit leaders have a lot on their plates, including serving members and the community, motivating volunteers, complying with state and federal regulations, and creating and monitoring accounting processes. Since many organizations rely on grant revenue to fund their missions, managing one, two, or several grants becomes a time-consuming, overwhelming task that can’t be avoided.

Sorting through your operating budget is probably not high on your favorite parts about running a nonprofit. However, it is integral to running a successful operation. With the busy holiday season still months away, now is the perfect time to take a closer look at your nonprofit’s finances.

In today’s business world, data is king. The nonprofit world is no different. That’s why getting comfortable using KPIs is so important.

In this article, I’ll explain what exactly is a KPI and which KPIs you should be using to track the success of your nonprofit.

For nonprofits handling multiple grants at a single time, it is easy for things to fall through the cracks. As an accountant, I encourage all my clients to really focus on building processes that help improve efficiency and reduce errors. This is true for both your accounting operations and grant management!

If you own a nonprofit you likely are aware of the challenges that come with finding tools and workers with experience in your industry. Not every app is designed for our needs and can be missing essential features you need in order to run your operations as efficiently as possible.

You’ve just pulled off a wildly successful fundraiser. Now it’s time to look at the most crucial thing, how much money did you actually raise from your event. Knowing exactly what your event brought in after expenses is key to your organizational health.

Grants do present a series of unique challenges. Researching and writing grants proposals is only half the battle. Once your organization has been given any foundation support, these funds must be carefully managed and tracked.