Financial Management

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  • Nonprofit Audit Guide

    The National Council of Nonprofits created this Nonprofit Audit Guide to provide charitable nonprofits with the tools they need to make informed decisions about independent audits.

     

    Table of Contents

  • Nonprofit Financial Policy Guidelines

    Developing and adopting a written financial policy is a valuable practice for any nonprofit organization, no matter how small or large. Financial policies clarify the roles, authority, and responsibilities for essential financial management activities and decisions. In the absence of an adopted policy, staff and board members are likely to operate under a set of assumptions that may or may not be accurate or productive. If the idea of creating a financial policy seems daunting, these guidelines for policy development and this downloadable basic example may be helpful.

  • Nonprofit Fiscal Policies and Procedures

    Establishing good fiscal policies and procedures is more of an investment of time and attention than money. There is no “one size fits all” template that will work for all organizations. This guide offers a recommended structure for policies and procedures as well as some questions to guide you in considering what is best for your organization. (CompassPoint, 2012) 

  • Nonprofit Fraud: It’s a People Problem, So Combat It with Governance

    How can nonprofits' leaders and boards better mitigate their fraud risks? First and foremost, they should focus on governance. (Nonprofit Quarterly)

  • Operating Reserve Policy
    This AICPA tool contains sample elements that can be used in the creation of an operating reserve policy. As with any policy of this nature, the NFP may wish to consult their legal counsel or independent auditor for assistance in developing an operating reserve policy that is appropriate for the organization that has been customized based on the risks, operations and structure of your organization
  • Operating Reserves for Nonprofits

    Operating Reserves for Nonprofits - For seven consecutive years Nonprofit Finance Fund’s State of the Sector report revealed that less than 25% percent of those nonprofits responding had more than 6 months of cash in reserve. In fact the majority of the nonprofits responding reported that they had less than three months of operating reserves on hand.

  • Overhead Cost Definition Worksheet

    The Overhead Cost Definition gives an overview of different overhead definitions from both the IRS and FASB (Financial Accounting Standards Board), and what classifications of expenses may or may not be included. (Propel Nonprofits)

     

  • Prep Ahead for Your Audit

    Preparing for an audit doesn't have to be a daunting task. Here are a few things you can do on an ongoing basis and throughout the year to make the process easier.  

    © North Carolina Center for Nonprofit Organizations, Inc. From Common Ground, a publication of the North Carolina Center for Nonprofits, www.ncnonprofits.org.

     

  • Preparing for Your Audit

    Wow, it's time for your audit again. Time flies when you're having fun! As with much of life, being prepared goes a long way. Here's what you can do.

    © North Carolina Center for Nonprofit Organizations, Inc. From Common Ground, a publication of the North Carolina Center for Nonprofits, www.ncnonprofits.org.

     

  • Questions Regarding Form E-585

    Certain nonprofit entities are allowed semiannual refunds of sales and use taxes they pay on direct purchases and leases of tangible personal property and services. Learn more about form E-585, "Nonprofit and Governmental Entity Claim For Refund State and County Sales and Use Taxes," and how your organization can request refunds. (N.C. Department of Revenue)

    Questions Regarding Form E-585

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