Accounting and Reporting
How to Read Nonprofit Financial Statements
Nonprofits are unique because the focus is on accountability, not profitability. However, just because there is no rush to distribute…
Do Nonprofit Organizations Have Profit and Loss Statements?
Nonprofit organizations, by definition, operate with the principle of focusing on accountability, not profitability. Nonprofit organizations do not actually generate…
6 Best Practices for Accounts Receivable Collections
An organization’s accounts receivable (AR) balance is made up of the money that is owed to the business but not…
6 Things to Consider When Choosing Your Nonprofit’s Year-End
Running a nonprofit organization is a rewarding process. But, just like any other business venture, there are decisions to be…
The Most Common Mistakes Nonprofit Organizations Make When Filling Out Form 990 (And How to Avoid Them)
Most organizations that have been approved for nonprofit status from their state are also able to obtain tax-exempt status from…
How To Disclose the Impact of Covid-19 on your Organization’s Financial Reporting
Nonprofit organizations exist to serve their communities, members, and neighbors. Local churches, schools, shelters, humane societies, and kids’ clubs are…
Best Practices for E-Filing the Form 990 Series
An unavoidable responsibility of running a nonprofit organization is complying with IRS regulations, including filing the informational return, Form 990,…
Regulatory Requirements for Contribution Revenue of Nonprofit Organizations
Nonprofits earn income from a number of sources so that the revenue can be used to fund the organization’s mission.…
The Basics of Unrelated Business Income Tax (UBIT) and What Nonprofit Organizations Need to Know
One benefit of being designated a nonprofit organization is being exempt from paying income taxes. Many nonprofits that have approved…
Healthcare Accounting Model for Government Grants
Healthcare accounting applies to for-profit and nonprofit healthcare businesses as well as government-run healthcare facilities. While governmental and nongovernmental entities…
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