Nuts and Bolts of a Nonprofit Audit
If you’re new to the nonprofit accounting space, you might be a little lost on what’s expected of you – and what to expect – from an audit. Never fear! It’s not difficult to get all caught up and ready to roll when that audit appears on the horizon.
The Fundamentals
What exactly is an audit? According …
Customer Spotlight: Carolina Family Health Centers, Serving the Underserved
Carolina Family Health Centers, Inc. (CFHC) provides affordable, high-quality health care services in Edgecombe, Nash, and Wilson counties in Eastern North Carolina. Through four centers, it offers a comprehensive scope of medical, dental, pharmaceutical, and behavioral health services to thousands of uninsured, the working poor, and those who are unemployed or underemployed. In order to …
Healthcare Professionals: Are You Effectively Managing Your Programs and Services?
For those of you in healthcare, ensuring the health and well-being of your clients is always at the forefront. A lot of you run programs and services as a means of fulfilling your main goal and, of course, generating revenue. Providing these services is at the core of your mission, after all! However, it can …
Three Ways to Deter Nonprofit Fraud
When I hear about fraud in a nonprofit organization, I first think about why anyone would steal, rob, or deceive an entity or individual fighting for a good cause. Frankly, it’s something we really don’t want to think about or imagine. But, unfortunately, it’s reality.
Here’s what the Financial Dictionary says about the types of financial fraud:
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Navigating Budget Season – Guide Your Nonprofit with a Better Built Budget
We’re coming up on budget planning and preparation season! Your budget is always on your mind, right? It can seem tricky and stressful, especially considering the fact that the National Council for Nonprofits describes the annual budget as, “… one of the fundamental building blocks of sound financial management.”
Financial leaders know the annual budget is …
Nonprofit Budget Health Check – Pass or Fail?
We’re at the half-year review mark of the budget lifecycle – how would you score your organization’s budget performance? Pass or fail? Do you believe best practices are being followed and milestones are being met?
Is there a way to improve the budget process at the six-month checkup point? The answer is yes! The middle of …
What’s Happening at this Year’s AICPA Not-For-Profit Conference
If you’re still on the fence about whether or not to attend this year’s AICPA NFP Conference, June 18-20 in the Washington, D.C. area, we have the latest scoop on what you can expect – and it just may be the convincing you need!
This year’s conference is offering numerous programs and sessions built for all …
Nonprofit Accountants: Making a Difference, One Mission at a Time
Don’t ask yourself what the world needs; ask yourself what makes you come alive. And then go and do that. Because what the world needs is people who have come alive.”
— Howard Thurman, Author and Philosopher
You may not associate the word “accounting” with the words “nonprofit” or “mission,” but consider this: Nonprofit …
Aligning Your Development and Financial Teams Maximizes Donor Contributions
Accounting and donor management may seem on different ends of the spectrum, but when fundraising dollars start to come in, both teams need to work together to ensure those contributions are accurately accounted for and effectively managed.
Without a consistent data structure and a smooth hand-off between your teams, accounting can spend hours doing duplicate data …
Successfully Prepare for Your Nonprofit’s Next Audit
Do you know what you need to do to prepare for your nonprofit’s next audit? Preparation can be a daunting task, whether you’ve never been through an audit or been part of a hundred. There are several steps you should follow, including selecting the right auditor, gathering the items you’ll need (like bank account reconciliations …