Nonprofit operating reserves represent the unrestricted funds an organization has set aside to help maintain financial stability and weather unforeseen challenges. They serve as a safety net, allowing nonprofits to continue functioning during economic downturns or when faced with unexpected…
A nonprofit statement of activities is one of the key financial reports every leader should know how to read. We’ll explore this report in easy to understand terms without you needing a finance degree.
Skip the B.S. This guide will walk you through the basics of nonprofit financial management so that you can make informed decisions about your organization’s future.
Reading a nonprofit cash flow statement does not need to be overly complex. With an example, we’ll talk through the basics without needing to be an accountant.
Nonprofit organizations are often underfunded, which can cause financial stress and strain on the organization. What is budgeting? How can you start? Read on to learn more. What Are the Basic Elements of a Nonprofit Budget Budgeting is the process…
As a nonprofit leader, it is important to be prepared to explain your organization’s financial position to new board members or other interested parties. In this article, we will review five key financial numbers that every nonprofit leader should know….
We’ve all heard of audits. But we may be thinking of very different things. In this article, we are not talking about IRS tax audits, but rather independent financial audits. We’ll answer the question of whether audits are required or…
A nonprofit, charity, and other social enterprises may make us feel like using words from the business world is taboo. Do revenue, sales, income, and other terms feel inappropriate in the social sector context? In general, there are five types…
Congratulations. You’ve selected your nonprofit board members and they have agreed to serve. You’ve scheduled the first board meeting but wait, what has to happen at this first board meeting? Ensuring the right things happen at the inaugural board meeting…
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