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Nonprofits are Important to our Community
Nonprofit organizations are essential to our quality of life not only because of the valuable programs they provide local citizens, but also because of the positive economic impact within our local communities.
Nonprofit organizations play a growing role in the social and economic well-being of the United States. They provide services, goods and resources to meet community needs. They are businesses, most often charitable, that assist other businesses in the community to drive economic development, the arts, cultural awareness, education, health, and spirituality — virtually every sector of society. As government agencies and the private sector have scaled back their charitable giving in recent years, nonprofits have become indispensible.
It is very important that your organization remains in compliance with non-profit rules and regulations so you cn continue to be an integral contributor to the health and welfare of our society and be able to give others the means to help those who are not as fortunate as others by giving them reliable resources to help.
Grant Management Non-profit Fund Accounting is a requirement for non-profit organizations that we cannot get around and expect to keep or increase funding for our projects. This site is designed to introduce an invaluable resource to new start-ups, existing organizations, board of directors and others on how to setup and maintain compliance systems for funding sources and donors.
Why is this information Important? Non-profits have very specific compliance and governance regulations. This book will assist in ensuring organizations have the resources and information required to track grant expenditures, create meaningful reporting and maintain records for agency decision making.
Funders require detailed reporting of how grant funds are spent. In addition to deliverables funders review financial statements and budgets to determine if an organization is fiscally sound and spending grant funds according to the agencies stated purpose.
Start-up organizations as well as established charities will benefit from plain and simple illustrations and instruction on how to set up fiscal and document systems, helping to ensure compliance with federal, state, local and private grant makers.
We have made this book affordable to give you the basic information you will need and included in the book are links to free forms for your use. You will gain great insight into the reporting requirements, accounting requirements and you will be able to provide periodic status report on the agency’s health
Recent Posts
Financial Reports for Non-profit Compliance
A nonprofit’s main focus is to carry out its mission to the best of its ability yet there’s one thing that cannot be lost in the desire to do good: A fiduciary responsibility to its funding sources and the community to use those resources efficiently and responsibly. All nonprofits have three to four, depending on
What are Bylaws and why do we need them?
How can they protect the board? Bylaws are the written rules by which an organization is governed. They set forth the structure of the board and the organization. They determine the rights of participants and they determine the procedures by which rights can be exercised. In other words, bylaws guide the board in conducting business.
Revocation of Federal Tax Exemption
Revocation of Federal Tax Exemption at Historic African-American Theater Holds Warning for Others Source Non Profit Quarterly May 12, 2016; Plain Dealer (Cleveland, OH) In April, leadership of Karamu House, a settlement house that includes the oldest African-American theater in the United States, suddenly became aware that the IRS had revoked its tax-exempt status after
IRS Subsection Codes
Ever wonder what the IRS Subsection codes stand for? Below is a list of the codes and what they stand for. Most, if not all, of the information provided on this site concerns subsection 501 (C)3 but the information I provide is so basic that every type of organization whether non-profit, for profit and any
Fund Accounting Non-Profit Expenses
Allocating Expenses Expenses are allocated to show the total cost of operating your program(s) that include activities, services, and projects related to a specific program. It is very important for the Executive Director, Board of Directors and other agency management to know the total costs of running the program so all can see how the
Basic Responsibilities of Nonprofit Boards
As noted in our post “Board of Directors Responsibilities” being a Board Member is a very integral component of the executive order in the non-profit and should not be taken lightly. The full participation of an active and qualified board will help to ensure the organization is in compliance and that the organization is prepared