Accounting and Reporting
Understanding The Nonprofit Annual Report (The Basics + Downloadable Template)
Nonprofit organizations are treated differently from for-profit companies by governing and taxing authorities because they are different. Nonprofits exist to…
What Is A Statement of Financial Position?
Running a nonprofit organization is no simple task. Between grant management, organizing fundraisers, collecting membership dues, and scheduling volunteers, every…
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.…
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RECENT POSTS
Nonprofit Accounting Basics: Understanding Accounts Payable Cycle
Nonprofit Balance Sheet (or Statement of Financial Position)
ASU 2014-09: A Summary of Revenue Recognition for Not-for-Profit Organizations
What Is Earned Revenue In Accounting?
Bank Reconciliation Statement: What It Is & Why It’s Important
What Is A Statement of Activities for Nonprofits?