Nonprofit Accounting Tales of Terror
We all know nonprofit accounting can be frightening at times, particularly when your accounting system has one foot in the grave. From auditor boogeymen creeping down hallways, to beastly balance sheets that have minds of their own, to recurring transaction nightmares. YIKES!
But nonprofit accounting doesn’t have to be all double, double, toil, and trouble. You …
Has Your Nonprofit Considered Moving to the Cloud?
Cloud computing seems to be all over the news these days. According to a recent story from Forbes, since 2009, cloud computing spending has been reported to grow 4.5 times the rate of IT spending, and is expected to grow more than six times the amount of IT spending from 2015 through 2020. But what …
Signs You’ve Outgrown Your Financial Software
A lot of nonprofits start out using off-the-shelf commercial software for their accounting needs. It’s fast, affordable, and easy to set up – but as your nonprofit grows and gains multiple funding sources that generic software isn’t able to meet your special tracking and reporting needs.
Many of our current customers moved over from financial …
Is Your Nonprofit Planning for Growth?
Did you know 80 percent of nonprofit finance professionals expect their organizations will grow either “very much” or “somewhat” in the coming year? And a whopping 98 percent says growth is important to their organization, per the recent Nonprofit Research Study: Managing Growth.
Here’s how respondents say they plan to grow …
The number one strategy is …
Does Your Nonprofit Finance System Resemble a Cluttered Attic?
Software applications dedicated to financial management for nonprofit organizations have been around since the early 1980s. These nonprofit financial applications and their underlying technology have undergone significant changes in the past 30-plus years. Nonprofits themselves, and the reporting requirements they must adhere to, have evolved as well. Combine these system and organizational changes with the …
How Are You Measuring Your Nonprofit’s Performance?
Finance teams have long been the go-to sources for data across a nonprofit organization. They’re routinely asked to provide numbers, pull together metrics, and develop shiny reports for various stakeholders, such as board members and major funders. Oftentimes, these teams find themselves burdened with requests, and struggle to balance their workloads. The seemingly never-ending demands …
Are You Prepared for Your Nonprofit’s Growth?
Most nonprofits are looking to expand their funding sources as their organization grows. But the big questions are, “What’s the best way to secure funding,” and, “Are you prepared for the complexities of reporting and compliance?”
In our most recent research study, “Nonprofit Finance Study: Managing Growth,” we dug into organization’s plans for growth – too …
How AP Automation Cuts Costs and Increases Efficiency
If your company is still receiving paper invoices or paying with paper checks, you’re not capitalizing on today’s best practices! You’re also missing out on the unlimited potential for savings after relieving your accounts payable (AP) team of time-consuming tasks, such as opening the mail, data entry into your accounting system, and filing mountains of …
Check Tampering: Is Your Nonprofit At Risk?
A True Story
What would happen to your mission if you lost $1 million from your budget? That’s exactly what happened to Mountain State Justice, a nonprofit organization that provides legal advocacy to low-income West Virginians.
In April of this year, a former Mountain State Justice office manager was sentenced to 54 months in prison for embezzling …
Managing Growth in Today’s Nonprofits: Research Study
Growth can mean different things to different organizations, and managing growth in a responsible way is essential – regardless of the shape, size, or flavor of that growth. Too little growth can cause an organization to stagnate; too much can overwhelm an organization and cause detrimental effects, such as delays in delivering on the mission. …