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…
This evening, as the moon hangs high and the leaves rustle with an eerie whisper, we shall cast a light upon the ethereal specters that haunt the ledgers and financial records of nonprofit organizations. Prepare yourselves, for in this Halloween special, we shall unfurl five bone-chilling tales, each a grim reflection of the common nightmares…
Welcome to the intriguing world of lease compliance for nonprofit organizations! Today, we explore the challenges that lie ahead as these noble entities tackle the ASC-842 accounting standard. We’ll delve into the complexities of lease management without getting entangled in technical jargon. Nonprofit organizations, renowned for their admirable missions and dedication to social causes, now…
When it comes to nonprofit accounting, understanding the concept of Unrelated Business Income Tax (UBIT) is crucial. UBIT is a tax imposed on the income generated by tax-exempt organizations through unrelated business activities. In this blog post, we will explore what UBIT is, its importance for nonprofits, and delve into the types of activities typically…
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