Why Numbers Matter to a Nonprofit Board

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….

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The Chazin Way

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…

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3 Keys to Being Prepared for Your Next Nonprofit Audit

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…

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5 Outsourced Accounting Myths

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…

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Cryptocurrency. Should Your Organization Accept It?

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…

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A New Audit Standard Affects Me??? Really?

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)”…

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Creating Good Accounting Habits Is Important for New and Smaller Nonprofits

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…

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