Tracking volunteer time: sounds like another chore? Actually it can help you meet match requirements, improve your financial statement presentations, and reduce liability. This article explains why and how to include volunteer time in your budgets and financials. (Blue Avocado)
Tracking Volunteer Time to Boost Your Bottom Line: A Complete Accounting Guide
Healthy nonprofit organizations employ financial management practices that build stability and flexibility both today and in the future. In Nonprofit Finance: 12 Golden Rules, Propel Nonprofits sets out the twelve golden rules for nonprofit finance, including budgeting, diverse funding sources, and interdependence.
An Employer Identification Number (EIN) is also known as a Federal Tax Identification Number, and is used to identify a business entity. It is a nine digit number that the IRS assigns to organizations in the following format: 00-0000000 (en español).
Top 5 Missteps to Endowment Management under UPMIFA - "UPMIFA completely overhauled the rules for managing donor-restricted endowments and the accounting standards were also updated in response. However, many organizations have still not realized that the rules have changed; they have continued to follow the principles of the old rules and may not even realize that they are out of compliance." (PBMares, 2021)
This piece is good to share with board members as a base of commonly understood information that will help them manage loans better against the blips, delays and growth tracks in nonprofit finance.
Knowing your nonprofit’s actual costs is common sense. Fortunately, an increasing number of enlightened donors, grantmakers, and government partners are recognizing the reality that essential costs include not only direct program costs, but other costs too – whether referred to as "overhead," "management and general," "administrative," or "indirect costs."
What does it cost to deliver your nonprofit's mission?
What should a board do once it suspects or has discovered evidence of embezzlement? Clifford Perlman details the responsibilities of the board when funds go missing. (Nonprofit Quarterly)
When Funds Go Missing, What Can You Do? What Must You Do?
Exempt Organizations Public Disclosure - Obtaining Copies of Documents from IRS - Sometimes people want to see a specific nonprofit's Form 1023, also known as its exemption application. This question usually comes from would-be nonprofits that want to refer to Form 1023 samples from similar organizations as they fill out their own applications.