6 Nonprofit Accounting Best Practices to be Thankful For

As the season of gratitude unfolds, it’s a perfect time for nonprofit organizations to reflect on the foundational elements that safeguard their financial integrity and reputation. Let’s express thanks for these 6 essential nonprofit accounting standards. They not only help mitigate fraud risk but also ensure a well-run and well-respected accounting function.  1. Segregation of…

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Mastering Nonprofit Budgeting: A Crucial Guide for Financial Health and Mission Fulfillment

You might have a personal budget in place to track your income and expenses, enabling you to stay informed about your financial situation. Similarly, a nonprofit budget serves as a plan for how an organization intends to allocate its funds, encompassing a comprehensive breakdown of revenue and expenditures. Although a nonprofit budget tends to be…

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Mastering Financial Transparency: How to Report Fundraising Expenses Correctly

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 and prioritizing, as well…

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3 Reasons to Consider Outsourced Accounting for Your Nonprofit

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…

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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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