Nonprofit accounting is essential to your organization’s financial management and stability. Learn everything you need to know about it in this guide….
Nonprofit Accounting Fundamentals For Financial Success
Category: Blogs
From Firefighting to Future-Proofing: A New Way to Think About Nonprofit Finance
The “Necessary Evil” Myth Nonprofits Need to Retire Let’s be honest, when you race to meet a grant deadline, prepare for a board meeting, or keep your programs running with minimal staff, financial management often feels like the hurdle standing between you and the work that matters. It’s not that you don’t understand its importance;…
What Comes After: 5 Steps to Navigating GivingTuesday Accounting
GivingTuesday 2024 saw record-breaking numbers with a whopping $3.6 billion donated by a historic 36.1 million participants, just in the U.S. These numbers reflect a 16% increase in total dollars donated and a 7% increase in the number of contributors, reflecting a growing desire in donors to be generous and help make a difference. So,…
Growing Access to Addiction Care: American Society of Addiction Medicine and Chazin
When Deb Ferris founded Thriving4Life, her vision was simple yet powerful: bring dignity, creativity, and connection to those impacted by dementia, trauma, and cognitive challenges. Through programs like Art4Life, the nonprofit uses art and music to spark expression and healing — and with Chazin’s financial guidance, Deb has been able to focus on expanding that mission and reaching more communities….
What Is An In-Kind Donation? The Accountants’ Perspective
Most people think of accounting as a strictly monetary process. However, nonprofits worldwide receive many types of donations, and sometimes, they need resources beyond financial support. In-kind donations provide numerous benefits to organizations that require goods or services for their mission-critical work. Plus, in-kind gifts are a popular way for donors with limited budgets to…
Buried in the Books: A Nonprofit’s Guide to Spooky Finances
The ledgers are alive… with mistakes! Unmask the monsters haunting nonprofit accounting and use this Nonprofit’s Guide to Spooky Finances to vanquish them….
What Nonprofits Need to Know About Restricted Funds
Why clear reporting, and clear rules, are the key to keeping donor trust. Managing restricted funds is one of the most challenging accounting tasks nonprofit organizations face, even those with strong financial practices. We’ve seen it happen: A donor restriction overlooked in a spreadsheet can trigger a last-minute scramble at year-end, resulting in audit adjustments…
Empowering Expression, Enriching Lives: Thriving4Life and Chazin
When Deb Ferris founded Thriving4Life, her vision was simple yet powerful: bring dignity, creativity, and connection to those impacted by dementia, trauma, and cognitive challenges. Through programs like Art4Life, the nonprofit uses art and music to spark expression and healing — and with Chazin’s financial guidance, Deb has been able to focus on expanding that mission and reaching more communities….
AI in Accounting: Embrace the Benefits, Beware the Buzz
Why smart nonprofits (and their accountants) use AI where it helps, and not where it doesn’t The AI Wave Is Here … But Not Every Tool Is a Lifesaver There’s no denying that AI is making waves across every industry, including accounting. From flashy award wins to promises of fully automated processes, the pressure to…
Supporting Philanthropy in the Spotlight: Accounting for Celebrity and High-Profile Foundations
High-profile foundations (especially those associated with celebrities and public figures) bring a unique blend of influence and responsibility to the philanthropic world. With wide reach and media attention, these organizations are well-positioned to make an outsized impact. But with fame comes additional layers of risk: increased scrutiny, public pressure, and a relentless spotlight that rarely…