Nonprofit Accounting Basics
Cash Flow Management for Clubs, Teams and Parent Groups
Simply put, cash flow management is tracking the money that comes in and out of your nonprofit. It’s one of the essential duties of a nonprofit treasure! If you don’t manage your cash flow, you are putting your nonprofit at risk of more than just cash shortages. Losing a donor or having to cancel a…
What Are the Nonprofit 1099 Rules?
Many times, nonprofits have small budgets and the work at hand can be done in a shorter amount of time compared to a typical business. This is especially true of small nonprofits largely run by volunteers, like PTA/PTO, Church Groups, Booster, and Service Clubs. It takes a village to accomplish your nonprofit’s mission. But nonprofits of…
7 Ways to Handle HOA Accounts Receivable
Why did you join your HOA Board? Maybe you wanted your voice to be heard on the approved paint color schemes. Or you felt you could lend your handyman/handywoman experience to the new mailbox project. The fact is, most people join their HOA Board to help foster the betterment of their community, not to enforce…
Church Treasurer Duties, Explained
A higher power has called upon you to help your church or faith-based organization as the treasurer. Now what? The Church Treasurer assumes an important duty that has a direct impact on the success of the church. Maintaining solid financial footing helps the church complete its mission by having funds to complete its community and…
Nonprofit Tax Returns: Which Forms to File, and When
Most tax-exempt organizations are required to file an annual nonprofit tax return with the IRS. Which form you file typically depends upon your financial activity, as indicated below. Following are some general guidelines for determining which tax form to file with the IRS: There are some exceptions and the thresholds are subject to change every…
A Guide to Getting Started as the Scout Unit Treasurer
Have you been promoted from Scouting Parent to Scout Treasurer? Congratulations! You’re about to embark on an amazing adventure. Put on your uniform and let’s get started! Start by registering as a Scout Leader on the Boy Scouts of America (BSA) website. This may require a background check. Plan to attend monthly roundtables with the…
The Ultimate Guide to Financial Best Practices for PTO Treasurers
School Parent Groups are known for their fundraising brilliance. Parents, teachers, faculty and students do amazing work creating new ways to pay for everything from new playground equipment to classroom supplies. But let’s get down to the brass tax of this post: what happens after the money comes in? Why Finances Matter to School Parent…
Managing Teams and Finances When Sports are on Hold
We are navigating unprecedented times in the sports world. Depending on locale, your sport may have begun with modifications or been canceled altogether this fall. We’re even hearing about some who started up only to be canceled shortly thereafter. Notre Dame football, for example, just announced the cancellation of its third football game in 100…
Nonprofit Mobile Credit Card Processing for Dues, Donations & More
Challenges of Old Payment Methods If your nonprofit isn’t set up to collect payments on-the-go, you could be missing out. Not only do mobile payment processors allow you to collect secure, PCI-Compliant payments, they overcome several challenges. Let’s compare the alternatives: Benefits of Mobile Payment Processing for Nonprofits Now that we’ve got those points out…
Try This Simple Budgeting Process for Your Nonprofit Organization
Does your nonprofit need to budget? Yes, and here’s why. The budget provides a framework for organizational decision-making. Developing a budget helps your board make choices between projects. Using it helps to maintain focus on what’s most important to your group. They help set expectations for an organization, tell us what we expect to achieve,…