For many nonprofits, a June 30 fiscal year-end means July kicks off not only a new reporting cycle, but a fresh opportunity to reflect, reset, and prepare for what’s ahead. Whether you’re breathing a sigh of relief or gearing up for an audit, now is the ideal time to close out the year thoughtfully. At…
By Chris Huntley, CFO & Advisory Solutions Manager at Chazin In April 2025, Federal Reserve Chairman Jerome Powell told the Economic Club of Chicago: “The…administration’s tariffs are significantly larger than anticipated. The same is likely to be true of the economic effects, which will include higher inflation and slower growth.” That small and between higher…
Navigating the financial landscape of a nonprofit can be tricky, which is why smart financial decisions are crucial to achieving your mission. Unfortunately, some pitfalls can derail even the most well-intentioned organizations. Let’s walk through some of them and more importantly, address how to avoid them. 1. Relying Too Heavily on One Source of Funding…
As we start the year with renewed clarity and vision, we recognize that data visualization is key to achieving nonprofit success. But there’s another crucial element that often gets overlooked—how we present the data that reflects our progress. Data is the backbone of any nonprofit’s operations, yet too often, it’s presented in a dry, impersonal…
As the fog rolls in and shadows lengthen across the books, we beckon you to gather ‘round for a night of financial fright. In this chilling collection of tales, we’ll peel back the cobwebs on some of the most terrifying trials faced by nonprofits—where unchecked ledgers, runaway expenses, and haunted software conversions lead to unspeakable…
If you are approaching an annual audit or if you’ve had an annual audit, you’ve likely encountered the term “PBC.” But what exactly does it entail? To truly grasp the significance of an audit, it’s essential to redefine its purpose. Many organizations perceive audits solely as a means to generate financial statements. It’s not uncommon…
For a nonprofit, your stakeholders are more than just donors, board members, or volunteers. They’re the lifeblood of your mission and the lovestruck supporters who champion your cause. Valentine’s Day is a celebration of love and connection, and what better time to reflect on the relationships you build with stakeholders? Just as in any healthy…
Understanding nonprofit accounting is essential for anyone operating within the nonprofit sector, and staying prepared for the challenges of 2024 requires a keen awareness of the distinctive features that set it apart from for-profit businesses. Contrary to common assumptions, nonprofit accounting is far from simple and straightforward. One key difference is that most nonprofits operate…
In the hustle and bustle of holiday shopping and festivities, there’s a special day that stands out as a beacon of generosity and compassion: Giving Tuesday. Chazin invites you to join us in celebrating this global day of giving, a movement that transcends borders and encourages us all to give back to our communities. In…
You might have a personal budget in place to track your income and expenses, enabling you to stay informed about your financial situation. Similarly, a nonprofit budget serves as a plan for how an organization intends to allocate its funds, encompassing a comprehensive breakdown of revenue and expenditures. Although a nonprofit budget tends to be…
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