5 Steps for Nonprofits to Develop a Wise Investment Policy Nonprofit boards have a fiduciary responsibility to protect the organization’s assets and ensure that they’re used to further the mission. Often, an important part of the board’s responsibility is deciding how to invest the nonprofit’s cash. That requires implementing a sound investment policy that balances…
Whether building endowments, funding specific projects, or growing reserves, investments can significantly impact a nonprofit’s financial health. However, managing these investments requires careful coordination between accountants, investment advisors, and investment committees. Sometimes it can be tricky to keep this all straight, so let’s explore the distinct roles of nonprofit accountants and investment advisors in investment…
5 Keys to Develop Your Operating Reserve Policy Every nonprofit needs to have sufficient cash flow to meet obligations. Setting aside an operating reserve is a smart practice as it provides a cushion against unexpected events that could temporarily impact the cash flow. Following are five best practices to follow when establishing your operating reserve…
Overview Speakers Resources Podcast From GAAP to Form 990, this episode of Counting on Chazin will help you understand the key compliance issues that nonprofits face. Michelle Jilek Director of New Client Experience and Technical Services Over seventeen (17) years of experience including accounting, consulting, and auditing services for nonprofit organizations. Michelle manages new client…
Nonprofit financial statements are essential to optimizing financial health. Read this guide to deepen your understanding and explore strategic insights….
For nonprofits, it is essential to sustain a consistent cash flow to fulfill obligations. Establishing an operating reserve serves as a strategic measure, offering a safety net against unforeseen events that could temporarily impact cash flow. Here are five key practices to consider when developing your operating reserve policy, ensuring its effectiveness and availability when…
Endowments are a vital source of funding for many educational institutions, especially in times of economic uncertainty and budgetary constraints. Endowments are funds that are invested to generate income, while the principal is preserved in perpetuity. The income from endowments can support various purposes, such as scholarships, faculty salaries, research, academic programs, and campus facilities….
As the season of gratitude unfolds, it’s a perfect time for nonprofit organizations to reflect on the foundational elements that safeguard their financial integrity and reputation. Let’s express thanks for these 6 essential nonprofit accounting standards. They not only help mitigate fraud risk but also ensure a well-run and well-respected accounting function. 1. Segregation of…
In the vast and diverse landscape of nonprofit organizations, few roles are as critical as that of the board treasurer. A nonprofit board treasurer holds the key to the organization’s financial stability and sustainability, ensuring that its resources are managed responsibly and directed toward fulfilling the mission. In this blog, we will explore the indispensable…
It is not uncommon to go to the Board meeting of a nonprofit and discover that they don’t have a Board Treasurer. Having someone who oversees the organization’s finances seems like such an important job, so why is it neglected? The Treasurer role of a nonprofit is not an easy role. A quick look at the Treasurer’s duties outlined in any organization’s bylaws…
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