For Nonprofit Boards, Numbers Are a Necessity As a Board member for a nonprofit organization, you’re expected to attend Board meetings, monitor fundraising and management, digest reports, and help the organization determine its strategic direction. You’re also expected—and, indeed, compelled by law—to oversee the organization’s finances as part of the fiduciary responsibility of a Board. …
After falling behind on annual audits, St. Columba’s recognized it was time to make a change and brought in a team from Chazin. The Sage Intacct Accountants Program partner conducted a full assessment of St. Columba’s financial operations and recommended specific next steps to revamp the Church’s processes. Chazin streamlined the Church’s chart of accounts,…
How can an accounting partner help your nonprofit overcome common challenges? The world of nonprofits is comprised of many different types of organizations. All 501c organizations face challenges that are unique to the nonprofit sector. One thing that all nonprofits have in common is the need for high-level accounting and financial oversight. Not having your…
In a hectic world, church leaders are seeking ways to maximize efficiencies while maintaining top-level results (including finance and accounting processes). The emerging post-COVID world, finds many churches facing stretched resources – both fiscal and physical. Many lay and clergy leaders are exploring engaging outside expertise to handle accounting and finance functions, realizing the cost-savings…
For many nonprofits, going through an annual audit is like undergoing a root canal—it’s a painful, stressful, and expensive experience. The good news is that it doesn’t have to be that way (the audit, that is.) Through advance planning, organization, and knowledge of the audit requirements, nonprofits can embark on their annual audit with ease and…
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…
Hello! Here is an inside look at our very own Karen Sprague and Martha Huelsbeck at this year’s CEEP Conference in Atlanta. This conference is specifically for CEEP members, but we hope this can inspire you to join us at our next in-person event. Stay tuned for any future announcements. Book a Consultation…
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;…
We’re waiving our onboarding fee! Our hands-on onboarding process includes a detailed kick-off meeting, weekly check-ins for 8-10 weeks, account setup, records review, audit-ready workbooks, and seamless transition to our Client Services Team.
Don’t miss this exclusive offer!