Every nonprofit leader knows that their organization is subject to a number of regulatory compliance requirements. In many cases, this includes the need for the organization’s financial statements to undergo an audit, often on an annual basis.  Checking off all the compliance-related boxes required by the local, state, or federal government is obviously important for…

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Woman Accountant looking over in-house accounting forms

Small businesses and fledgling nonprofit associations often get their start with a single individual and a big vision. With hard work and time, many of them grow and scale, so much to the point that they can no longer do everything on their own. They start assembling a team.  This spells success and it’s a…

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3 Reasons You’ll be Thankful for Outsourcing Your Accounting

It’s the season of giving thanks and expressing gratitude! I always appreciate this holiday’s ability to offer us the opportunity to become more aware of all that we have to be thankful for and to express our gratitude more intentionally.  We typically think of thankfulness in relation to our personal lives, but it extends to…

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Text on orange-yellow background, bat flying above a circled image of hand holding document

Gather round, it’s (not-so spooky) storytime–nonprofit accounting style! It might be the season of tricks and treats, but I promise you, reading your Statement of Activities doesn’t have to be scary. 👻  Can it be a bit tricky, though? Yes! That’s why I am here to share what it is and how it can be…

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Navigating Nonprofit Finances

As a CPA that is entrusted with the finances of  a great many nonprofit organizations, the team at Lumix frequently finds itself fielding questions  related to nonprofit finances. We gathered five top tips to point your nonprofit in the right direction on where to focus financially based on our in-depth understanding of the nonprofit sector…

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Nonprofit CPA reviewing data charts and graphs of financial performance with client.

Nonprofits face many unique challenges when compared to other sectors. One hardlined reality? Nonprofit finances are susceptible to a high level of scrutiny. The general public, donors, and governmental authorities can all be sources for an eagle-eyed analysis of a nonprofit’s financial records. As a CPA and financial advisor to nonprofit associations and organizations, this…

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Woman accountant being taught about good and bad overhead

Overhead expenses are unavoidable when running any kind of organization, including those in the nonprofit sector. Overhead line items tend to be highly scrutinized in the nonprofit world, where charities and other organizations are judged by how they allocate their funds to anything outside of the scope of mission-driven programmatic spending.  In this article we…

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