Understanding Nonprofit Financial Statement Components
Managing your nonprofit’s finances involves many moving parts. You must create financial policies, distribute responsibilities, develop a budget, and follow relevant guidelines like Generally Accepted Accounting Principles (GAAP). One of the most important elements of financial management for charitable organizations is nonprofit financial statements. These documents summarize your nonprofit’s financial activities and health, offering benefits […]
Nonprofit Financial Compliance: 4 Essentials to Know
As a nonprofit professional, your top priorities day-to-day are likely fundraising and development. These activities are critical for your organization to thrive—after all, you can only serve your community and further your mission if you have the necessary support base and resources! However, ensuring financial compliance should also be a priority for your nonprofit. Managing […]