5 Nonprofit Cash Management Statistics & Trends for 2024

2024-07-18T08:51:07-04:00

Managing your nonprofit’s finances is about more than just raising money and recording what you earn and spend. It also involves financial stewardship—the practice of saving, storing, and investing your cash reserves wisely to boost your organization’s long-term financial health. This means it’s crucial not only to manage your organization’s reserve funds well but also to stay aware of the current financial best practices and trends in the nonprofit sector. We’ve compiled this list of up-to-date nonprofit cash management statistics and trends to help you get started. Whether you’re investing your nonprofit’s funds for the first time or looking for the right cash management [...]

5 Nonprofit Cash Management Statistics & Trends for 20242024-07-18T08:51:07-04:00

How to Manage Payroll for Your Staff: A Nonprofit Guide

2024-02-23T14:24:15-05:00

Whether you’re investing in fundraising software or paying for programs to fulfill your mission, your nonprofit’s budget requires careful allocation of expenses. Payroll is one of the most significant of these expenses, not just because it’s a necessity but because staff members deserve fair compensation for their professional dedication to your cause. This means you must carefully allocate your payroll expenses—but how? In this guide, we’ll explore how to manage payroll for your staff. Let’s get started! 1. Track employee hours. The first step to effectively manage staff payroll is to gain a holistic understanding of your employees’ efforts and compensation. [...]

How to Manage Payroll for Your Staff: A Nonprofit Guide2024-02-23T14:24:15-05:00

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

Diversifying Your Revenue: 3 Effective Ideas for Nonprofits

2022-11-03T15:43:45-04:00

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 have impacts on your programs for the rest of the year. Situations like this can happen, especially if unexpected circumstances arise. Fortunately, your nonprofit can mitigate situations like this by diversifying its revenue with a variety of fundraising sources outside of just donations.  Of course, acquiring donors and cultivating donations will continue to be [...]

Diversifying Your Revenue: 3 Effective Ideas for Nonprofits2022-11-03T15:43:45-04:00

10 Internal Controls for Safe Nonprofit Finances

2022-08-24T10:57:05-04:00

Nonprofit accounting is unique when compared to for-profit accounting. This is primarily because nonprofits agree to reinvest all of their revenue back into the mission at hand in exchange for tax-exempt status. This means nonprofits need to be a lot more transparent about their finances in order to ensure accountability to their generous donors. Due to this transparency and the need to be accountable to donors, nonprofits carefully implement internal controls designed to keep finances safe and prevent misuse. Internal controls are policies and decisions made to prevent the misappropriation of nonprofit funds. In this guide, we’ll dive into ten common [...]

10 Internal Controls for Safe Nonprofit Finances2022-08-24T10:57:05-04:00

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