In the world of nonprofit organizations, accounting plays a crucial role in ensuring transparency, accountability, and financial stability. However, navigating the complexities of nonprofit accounting can be a daunting task, especially for individuals who lack the proper experience or expertise. In recent years, advancements in artificial intelligence (AI) have given rise to powerful language models…
What is cryptocurrency? Simply put, it’s money that’s not in a physical form, otherwise known as digital money. Nonetheless, it shares some of the same characteristics of paper money in that it can be earned, used, and invested. Why should you care? According to Gemini’s 2021 State of U. S. Crypto Report, 21.2 million adults…
For better or for worse, charity watchdogs (CWDs) play a substantial role in any nonprofit’s reputation. CWDs rate 501(3)(c) public charities based on certain criteria, and both individuals and companies often use those ratings to decide whether to donate to a specific nonprofit organization. Positive ratings often provide a sense of credibility and trustworthiness to…
BEWARE OF THE DOG: NONPROFIT WATCHDOGS AND THEIR IMPACT ON YOUR ORGANIZATION (PART 1) A nonprofit’s Charity Watchdog (CWD) rating helps set organizations apart. A specific rating could make prospective donors flock to a particular organization or warn them to steer clear of it. Because a nonprofit’s credibility is so intrinsically tied to its financial transparency…
If you’re getting close to an annual audit, you’ve probably heard the term “PBC”—but what is it and what does it mean? First, it is important to understand what an audit REALLY is. So many organizations view an audit as an opportunity to issue financial statements. It’s not uncommon to even refer to the audited financials as the auditor’s financials when, actually, it is the responsibility…
Models and Components of a Great Nonprofit Dashboard A dashboard allows a nonprofit to monitor both the effectiveness of this enterprise or business model, as evidenced by the organization’s financial health, and the impact of the programs and services being provided. The process of developing a powerful organizational dashboard should be inclusive and based on…
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