Updated: March, 13, 2025 It goes without saying that, for many nonprofits, fundraising is a crucial element towards achieving its goals. Not only does fundraising generate revenue to support mission-critical programs, it can also provide a valuable opportunity to raise awareness for your cause. Guaranteeing your organization’s success beyond the next quarter requires careful planning…
As the pace of change continues to accelerate, nonprofits are finding new and creative ways to keep up. Today’s leading nonprofits are perfecting the art of virtual fundraising and volunteering. They’re implementing fresh social media strategies. They’re creating innovative donor retention programs. And they’re driving their missions forward despite myriad ongoing global challenges. It’s a…
One of the fundamental decisions a nonprofit organization needs to make is whether to use the cash or accrual accounting method. The method you select will determine how you classify, record, and report on your income and expenses. What is the cash method of accounting? Under the cash method of accounting (cash-basis accounting), revenue is…
If you’re running a nonprofit, odds are you’ve considered outsourcing all or a part of your accounting and finance function. That makes perfect sense. Outsourcing is a cost-effective way to access expert nonprofit accounting and finance resources and create a high functioning accounting and finance department. One of the common myths listed below, however, may…
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…
Your organization’s Chart of Accounts is the building block for meaningful financial reporting. Optimize it and your accounting data will tell you the truth about what’s really going on. It will allow you to develop and track key performance indicators; it will tell you what you are doing wrong; it will highlight your financial successes;…
Watch Jackie McLaughlin, one of our talented Client Services Managers, on The Nonprofit Show! Tune in on Monday, February 21, 2022 at 9:30 am PT. Co-hosts Julia C. Patrick and Jarrett Ransom have invited Chazin & Company to discuss how Conflict of Interest Policies are a big must for nonprofits. Be sure to catch Jackie live! You…
Many nonprofits are subject to annual audits. Although they can be challenging, they are often required for one or more reasons. A byproduct of that requirement is that audit standards can and do change and those changes can and do impact your organization. This year is no different. A new “Statement on Auditing Standards (SAS)”…
Leaders of nonprofits that are just getting started, or are relatively small, are generally focused on getting their organization up and running, raising money, and delivering on their mission. That’s to be expected. Properly tracking the financial activity of the nonprofit, and installing best practices, does not tend to receive the attention it deserves early on. There are accounting rules that…
IRS Form 990 is more than just a tax form that many nonprofits must file every year. It’s an opportunity to demonstrate to the IRS, as well as to current and potential stakeholders, that your organization is well-run and financially sustainable. It is also an opportunity to showcase key mission-centric programs. IRS Form 990 can…
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