4 Tips for Tracking the True Cost of Nonprofit Programs

2026-07-24T16:31:12-04:00

When you develop your nonprofit’s budget, you do your best to project your revenue and expenses accurately. Usually, you’ll base your estimates on past performance, accounting for seasonal revenue variations and recurring expenses that impact your nonprofit year after year. While this best practice improves your budgeting accuracy, just looking at last year’s program expenses isn’t enough. To accurately track nonprofit program costs, implement specific strategies that allow you to organize program expense information and fully consider all costs associated with your nonprofit’s main offerings. These tips will help you identify program costs and track them precisely throughout the year: 1. [...]

4 Tips for Tracking the True Cost of Nonprofit Programs2026-07-24T16:31:12-04:00

How to Create & Maintain Your Nonprofit Chart of Accounts

2026-06-16T22:29:54-04:00

If you’re building the financial systems for a new tax-exempt organization, getting the structure right early will save your team time and energy later. In particular, it’s critical to create a chart of accounts to provide a foundation for all of your other accounting activities going forward. Developing this resource effectively from the start allows your team to spend less time tracking down financial records and more time applying the insights they gain to your programs and operations. This guide will help you create a nonprofit chart of accounts and keep it working for you as your organization grows. What is [...]

How to Create & Maintain Your Nonprofit Chart of Accounts2026-06-16T22:29:54-04:00

The Nonprofit Executive’s Guide to Gift Processing

2026-06-08T15:06:50-04:00

Strong institutional governance begins with an unyielding commitment to financial transparency and regulatory compliance. The nonprofit gift processing infrastructure serves as the core of this operational framework. While many executive leaders view donation administration as a routine, back-office data-entry task, it is, in reality, the primary gatekeeper for all incoming charitable revenue. When operational controls are weak, organizations expose themselves to significant vulnerabilities. Therefore, establishing an airtight administrative pipeline requires a deliberate balance between strict accounting principles and forward-looking management. This comprehensive guide provides a structural roadmap to help nonprofit CFOs and EDs overhaul their financial workflows to safeguard institutional assets, [...]

The Nonprofit Executive’s Guide to Gift Processing2026-06-08T15:06:50-04:00

Financial Benchmarking for Nonprofits: 4 Industry Standards

2025-08-04T09:57:59-04:00

Nonprofit leaders rely on accurate financial insights to make smart decisions that advance their missions. However, without defined benchmarks, it can be difficult to determine whether your organization is on track to meet its fiscal goals. Financial benchmarks are performance targets derived from accounting data or industry standards. Nonprofit leaders can compare their organization’s performance to these targets to reliably gauge their organization's health. These insights can also be useful when creating strategic plans, compiling key reports, or justifying financial decisions to board members. This article explores the financial metrics every nonprofit should monitor and how to apply them at your [...]

Financial Benchmarking for Nonprofits: 4 Industry Standards2025-08-04T09:57:59-04:00

Nonprofit Controllers vs. Accountants: The Key Differences

2025-07-03T11:50:24-04:00

It’s no secret that effective financial management is critical to your nonprofit’s long-term success. From properly allocating revenue to thinking critically about costs and building reserve funds, managing your resources allows your organization to first work toward financial stability, then plan for future growth. While your nonprofit should have dedicated financial professionals on its team, there are several different ways you can fill the necessary roles. In particular, many organizations debate whether to hire (or leverage outsourced services for) an accountant or a controller because there is some overlap between their duties. However, their jobs aren’t exactly the same, and different [...]

Nonprofit Controllers vs. Accountants: The Key Differences2025-07-03T11:50:24-04:00

4 Best Practices for Managing Advocacy Group Finances

2024-05-24T07:27:25-04:00

Effective financial management is essential for any organization. No matter your purpose, well-managed finances yield data-driven insights that allow those in financial positions to plan and achieve the organization’s goals. Financial management is especially important for advocacy groups since these organizations tend to work under tight budgets and face greater challenges with maintaining public trust. To help, we’ve compiled this list of four best practices your advocacy group can implement to manage its finances more effectively. 1. Establish clear financial policies As various team members interact with your advocacy group’s finances, they’ll need clear guidelines for handling money within your organization. [...]

4 Best Practices for Managing Advocacy Group Finances2024-05-24T07:27:25-04:00

Understanding the 4 Key Nonprofit Financial Roles: A Guide

2024-02-13T16:48:49-05:00

Nonprofits are typically composed of hardworking professionals who wear many hats. While each staff member may have a specific title like “fundraising director” or “project manager,” they often take on a wider range of responsibilities. This could mean handling tasks from donor communications to procurement to event planning to accomplish everything that needs to be done to further the organization’s mission. However, some areas of nonprofit work require more specialization. In particular, effective financial management relies on having experts on your team with specific skills and knowledge in that area. That’s right, experts, plural. In this guide, we’ll cover the four financial roles your [...]

Understanding the 4 Key Nonprofit Financial Roles: A Guide2024-02-13T16:48:49-05:00

Diversifying Your Revenue: 4 Effective Ideas for Nonprofits

2023-10-19T13:36:54-04:00

Picture this: As the new year begins, you review your nonprofit’s year-end donation revenue and realize you’ve fallen short of your projected fundraising goals. As fundraising reports have shown, end-of-year donations can account for up to 22% of a nonprofit’s total annual fundraising, meaning potential shortfalls can impact your programs for the rest of the year. These situations can happen, especially if unexpected circumstances arise. Fortunately, your nonprofit can mitigate them by diversifying its revenue with a variety of fundraising sources beyond just donations.  By expanding your revenue sources, you’ll be able to give your nonprofit added financial security and provide your donors with [...]

Diversifying Your Revenue: 4 Effective Ideas for Nonprofits2023-10-19T13:36:54-04:00

Switching to E-Filing Nonprofit Taxes: An Ultimate Guide

2023-08-07T12:26:31-04:00

As a nonprofit professional, you know that every dollar counts when it comes to pursuing your mission. Fortunately, the government empowers nonprofits to achieve their goals by exempting them from paying taxes. A lot of work goes into complying with IRS regulations and preserving your nonprofit’s tax-exempt status, namely filing your Form 990 or one of its variants. Gathering your physical documents and filling out your forms by hand adds an extra layer of challenges. However, e-filing technology can make preparing Form 990 straightforward and stress-free. Let’s explore everything you need to know about Form 990 and the benefits of filing online. Understanding the basics [...]

Switching to E-Filing Nonprofit Taxes: An Ultimate Guide2023-08-07T12:26:31-04:00

Nonprofit Financial Audits: 5 Frequently Asked Questions

2023-06-29T14:06:33-04:00

One of the main benefits of registering as a 501(c)(3) nonprofit is that your organization is exempt from paying most taxes. With this provision, you can reinvest all of your revenue back into your organization to help further your mission. However, it might lead you to wonder whether your nonprofit is also exempt from audits. Although the answer to that question is no, nonprofit audits tend to work differently from audits of businesses’ or individuals’ finances, which are usually conducted by the IRS. While there are occasional exceptions, most nonprofit financial audits occur independently of the IRS and are instead conducted by third-party auditors. [...]

Nonprofit Financial Audits: 5 Frequently Asked Questions2023-06-29T14:06:33-04:00

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