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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
Not all Non-Profits are Tax Exempt
Did you know that not all Non-profits and Charitable Organizations are Tax Exempt. To be tax-exempt under section 501(c)(3) of the Internal Revenue Code, an organization must be organized and operated exclusively for exempt purposes set forth in section 501(c)(3), and none of its earnings may inure to any private shareholder or individual. In addition,
QuickBooks Caveat – Closing Books
As of the printing of Grant Management Non-Profit Fund Accounting and 2015 QuickBooks, QuickBooks does not close your books at month-end or year-end. You are allowed to only set a closing date so that you are prompted for approval when entering data that is on or before the date set as the closing date. The
QuickBooks Caveat – Recording Revenues
QuickBooks has many limitations in all versions of their products, especially where the non-profit versions are concerned. The Grant Management Non-Profit Fund Accounting book focuses on only one of those peculiarities. One of QuickBooks’ peculiarities that is covered and that those who use QuickBooks non-profit have to live with or find a work around is
Return Due Dates for Exempt Organizations
Exempt Organizations: Annual Return Form 990, 990-EZ, or 990-PF must be filed by the 15th day of the 5th month after the end of your organization’s accounting period. Thus, for a calendar year taxpayer, Form 990, 990-EZ, or 990-PF is due May 15 of the following year. Use Form 8868 to request an automatic 3-month
2015-2016 Mileage Tax Deductions
Mileage rate deductions Business Moving Medical Charitable 2015 per-mile rates 57.5 cents 23 cents 23 cents 14 cents 2016 per-mile rates 54 cents 19 cents 19 cents 14 cents Read more:
What is Fund Accounting and its’ Purpose
Fund Accounting is a term used for investment accounting as well as non-profit accounting. With investments it is used as portfolio accounting or securities accounting. In this instance it describes the process of accounting for a portfolio of investments such as securities, commodities and/or real estate held in an investment fund such as a mutual