In nonprofit management, generating sustainable funding is crucial for growth and making a significant impact. This goes beyond basic financial needs; it's about enhancing your mission and reach. As executive directors and CEOs, you play a key role beyond just...
In the nonprofit sector, the board of directors plays a crucial role in guiding the organization's mission and financial stability. Key to their effectiveness is access to clear and comprehensive financial reports. These reports are vital for strategic planning,...
Efficient financial management is pivotal for nonprofits, especially in handling payroll. Nonprofit payroll help extends beyond mere payment processing; it involves maintaining financial integrity and adhering to both legal and grant standards. For nonprofit leaders,...
Nebraska is home to a thriving community spirit that often translates into a strong and growing nonprofit sector. Nebraskans are increasingly turning towards nonprofit organizations as vehicles for change, community support, and social good. However, embarking on the...
In the world of nonprofit organizations, financial transparency is a critical factor in maintaining trust and building strong relationships with donors. One effective way that can enhance financial transparency is the Indirect Cost Allocation Table. This powerful tool...
What is an End of Year Fundraising Campaign? End-of-year fundraising campaigns are more than just a last-minute rush to raise funds. They signify a crucial window of opportunity. The final months, especially December, witness a surge in philanthropy, with many...
How to Manage & Report In-Kind Donations In the world of nonprofits, monetary donations often take the spotlight. However, in-kind donations are just as crucial to many organizations. These contributions, which encompass goods, services, or time rather than direct...
What is a Nonprofit Balance Sheet? The Nonprofit Balance Sheet or Statement of Financial Position reflects the financial stability of the organization. It allows stakeholders, including donors, grantors, board members, and management, to assess the organization's...
The financial health and transparency of a nonprofit organization is paramount, not only for the leadership and beneficiaries but also for donors, sponsors, and the public. A nonprofit audit is an essential method for maintaining transparency and accountability. This...
Managing and presenting financial information accurately is essential for any organization. For nonprofit entities the statement of functional expenses (often referred to as a SOFE) is not just crucial; it's often mandatory. This statement provides a breakdown of how...
Updated: April 1, 2024 For small business owners and nonprofit executive directors, successful financial management is key to long-term success. Even if you have a bookkeeper or accountant, your organization still may require more specialized advice. If you don't have...
Understanding and analyzing financial ratios is crucial for small business owners looking to improve their financial performance. These ratios provide valuable insights into a company’s profitability, liquidity, efficiency, and overall financial health. By mastering...
Running a successful nonprofit or small business requires a great deal of time, effort, and resources. One of the most crucial aspects is managing finances effectively in order to grow at a consistent rate. However, for many small and medium-sized organizations,...
As a business owner or accountant for a business, understanding the intricacies of tax reporting and compliance is crucial. One area that requires special attention is the 1099 form. Whether you hire an independent contractor to help with bookkeeping or work as a...
Tax season often brings about a flurry of paperwork, uncertainty, and more than a few questions, particularly for independent contractors. One of the key tax forms independent contractors should be familiar with is the 1099 form. Understanding what a 1099 form is, how...
When we begin working with a new client at Velu, be it a small business or nonprofit, our first step is to integrate a complete and cohesive Chart of Accounts (COA). The COA is a financial foundation that serves both as an index of account numbers and names and as a...
Nonprofit organizations play a critical role in their community by offering essential services that have a positive impact. Obtaining and maintaining their tax-exempt status is crucial to their ability to continue making a difference, and the government strives to...
Hiring a Fractional CFO: A Beginner’s Guide Managing finances properly is essential for the growth of any business or nonprofit. It can be challenging to handle everything on your own though, or find a full-time staff member to oversee everything from bookkeeping to...
As a nonprofit organization or small business, there are many benefits of outsourcing bookkeeping to a trusted accounting firm. A reliable bookkeeper helps with financial growth and also ensures compliance with tax regulations. To keep yourself clear of penalties,...
Nonprofits are typically established for social or educational purposes with the primary objective of addressing a social, economic, or health issue. With the right support, they can flourish and make a profound impact on the world. However, even the strongest...
When fundraising for your nonprofit, it is important to take into account all costs and grab every opportunity for funding. Nonprofits provide essential services, support, and resources to members of the community that would not otherwise be available if those...
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