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;…
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,…
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…
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…
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…
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…
Fundraising campaigns are essential lifelines for nonprofit organizations. They provide the funding necessary to carry out programs, pay staff, and deliver services that create lasting impact. But behind every successful campaign is something far less visible, and just as critical: financial tracking. Without solid processes in place to track the revenue raised and the expenses…
As another fiscal year wraps up, your nonprofit may find itself buried in reports, reconciliations, and audits. But FYE data is more than just something for your auditors or board to review; it’s a valuable tool for driving strategic growth and ensuring sustainability. Let’s take a closer look at what your data can reveal and…
At Chazin, we know that early-stage nonprofits face a unique set of challenges and that they need more than just outsourced accounting. That’s why we created NFP SmartStart, a specialized offering designed for newly founded organizations or those operating with budgets under $500K annually. NFP SmartStart is an all-in-one solution tailored for emerging nonprofits that…
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…