You will be able to manage, prepare and maintain fund balance reports manually or with a computerized accounting system. Prepare for A-133 audit requirements of some non-profit organizations depending on size of federal funding, and prepare and support grant fund allocations for funding sources. You will also learn to provide fund reports to management, auditors, […]
Why you need the Grant Management Fund Accounting Book Read More »
Payroll is an essential function of every organization, but it is easy for non-profits to make it a low priority as they strive to meet the organizations mission. Many small nonprofits struggle to meet Human Resources needs, lacking the funding for dedicated HR staff and the experience that comes with it. However, not giving enough
Considerations for your Non-profit Payroll Read More »
This can actually happen to you. Your finance committee or board meets. The members are presented with a packet of information that includes financial reports prepared by your accounting department and reports prepared by your development department. As the members review these reports, they notice the contributions from your accounting department do not agree with
Avoid Discrepancies when Recording Contributions Read More »
As you may be aware, there have been several changes in due dates for federal tax returns. These changes are generally effective for tax years starting after December 31, 2015 – that is, for 2016 tax returns prepared during the 2017 filing season. These modifications relate mostly to flow-through entities, including partnerships and S corporations
New Due Dates for Tax Returns Due in 2017 Read More »
It is not surprising that many nonprofit board members do not fully understand financial statements—despite the fact that understanding those statements is very important to good governance. In my consulting career with non-profits I have found that so many executives and board member have no clue about financial statements and not being able to read
Non-Profit Trends Reporting Read More »
First I would like to thank all of you for the support you have given this site. As I have said before I strive to provide only information that I believe will be of value to my readers. Saying that, I will not be posting to fill space or to show that I can post
Updated Resource Center Read More »
This is a re-post from Journal of Accountancy that I would advise you subscribe to for updates on various issues that will affect non-profits. Here is the article: Not-for-profit executives and finance teams—and the boards that oversee those organizations—are facing challenging times. In addition to the uncertainty of the upcoming U.S. election, they are confronting
How Not-for-Profits can stay strong amid uncertainty Read More »
FINANCIAL MANAGEMENT GUIDELINES FOR NON-PROFIT AGENCIES Part 3 of 3 Separation of Duties In parts 1 and 2 we looked at practical information on what is expected from organizations that have or anticipate receiving grants from federal funding either directly or as a sub-recipient regarding fiscal accountability. We also looked at Fiscal Policies that should
FINANCIAL MANAGEMENT GUIDELINES Part 3 Read More »
FINANCIAL MANAGEMENT GUIDELINES FOR NON-PROFIT AGENCIES Part 2 501 (c) (3) Fiscal Policies: Click here for a downloadable link to example Fiscal Policies (PDF) adapted for non-profit sub-section 501 (C) (3) organizations. This is presented as a guide to help you develop your fiscal policies. Some items and/or positions shown may not apply to you
FINANCIAL MANAGEMENT GUIDELINES Part 2 Read More »
A CHECK SIGNER’S RESPONSIBILITIES Most businesses know that segregation of duties is an essential internal control within the accounting function. So, normally, the person with check signing authority is someone different from the person generating the checks within the accounting program. But this example of segregation of duties only works well if the check signer