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…
By Chris Huntley, CFO & Advisory Solutions Manager at Chazin In April 2025, Federal Reserve Chairman Jerome Powell told the Economic Club of Chicago: “The…administration’s tariffs are significantly larger than anticipated. The same is likely to be true of the economic effects, which will include higher inflation and slower growth.” That small and between higher…
In the hustle and bustle of holiday shopping and festivities, there’s a special day that stands out as a beacon of generosity and compassion: GivingTuesday. Chazin invites you to join us in celebrating this global day of giving, a movement that transcends borders and encourages us all to give back to our communities. In this…
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…
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…
When it comes to nonprofit accounting, understanding the concept of Unrelated Business Income Tax (UBIT) is crucial. UBIT is a tax imposed on the income generated by tax-exempt organizations through unrelated business activities. In this blog post, we will explore what UBIT is, its importance for nonprofits, and delve into the types of activities typically…
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…