Finances
Understanding Overhead: The Good and Bad for Nonprofits
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…
Read MoreAt What Point Do You Have to Say ‘NO’ to a Grant?
There is nothing like the excitement of hearing that you are being awarded a generous grant. As a mission-driven organization, your goal is to provide a valuable service to your community. Grant money can feel like the essential “blood” that courses through the work you do and brings “oxygen” to a variety of programs and…
Read MoreSigns That Your Organization May Be Need Outsourced HR Services
Have you ever sat at a board meeting with a feeling that the Executive Director may be exhibiting unstable behavior or may be running the organization into operational or financial instability?
Read MoreBudgets for Nonprofits
Budgets are such an integral part of your organization’s financial well-being – make sure you prepare it correctly.
Read MoreQuestions To Ask About Budgets For Non Profit Accounting
Being at a board meeting while a budget is being discussed can be a very intimidating experience. But having a discussion around the questions above can help you understand better the process.
Read MoreIndirect Cost Rate Monitoring
Indirect cost rates fluctuate each year based on the results of your operations. If the indirect rate decreases, it could be a sign that your organization is heading to a major cash flow problem to resolve. Stay on top of your current year’s indirect cost rate to plan and prepare for any changes. It is…
Read MoreBoard Member Perspective – Questions to Ask When Reviewing an Audit
You are presented with the financial statements prepared by auditors. Do you know what questions to ask? What will the auditors tell you only if you ask? The process of auditing the financial statements of an organization is quite invasive not only on the transactions and balances that make up the financial statements, but also…
Read MoreStatement of Activities – One Column At a Time
It is our tendency to immediately look at the total column on a report, but that can leave you asking many more questions, rather than understanding where you’ve been this year so far.
Read MoreChronic Cash Flow Problems
But these situations are usually clear to see, easy to prepare for, and usually short-lived. When an organization has chronic cash flow problems, the root may be the lack of proper planning and monitoring.
Read MoreIn Search for Balance & Purpose, Part II
So your books are balanced. In fact, you have supported the major balances in your balance sheet and have traced the activity in your statement of revenues and expenses. The reports are ready to be published. Now what? What is the purpose of these historical reports? In my first article, I presented my opinion on…
Read More