administration
Do I Need Nonprofit-Specific Accounting Software?
For many volunteer treasurers, the choice of accounting software is often inherited rather than chosen. In other words, they use whatever is passed down to them. Unfortunately, this often comes with little to no training, and sometimes, the treasurer has no accounting experience at all. One of the unique challenges of nonprofit organizations-especially those run…
Who Has the Popcorn Machine? A Simple Guide to Tracking Your Nonprofit’s Shared Assets
At MoneyMinder, we get nonprofits—because we’re all volunteers in our own respective groups. And trust us when we say, no matter how big or small a shared asset is, it will inevitably go missing at some point. And of course, it’s always right when you need it most. Many of the emerging nonprofits we serve…
Creating Nonprofit Bylaws 101 (with Example)
Purpose of Bylaws for a Nonprofit Organization Bylaws are like a GPS for your organization, ensuring your nonprofit stays on course as you run it day in and day out. Bylaws establish the responsibilities of the board of directors and procedures for meetings and decision-making. They also help ensure you are in compliance with state…
5 Nonprofit Compliance Mistakes—and How to Avoid Them
Running a nonprofit is no small feat. Between fundraising efforts, volunteers, accounting and meetings, it’s easy to let nonprofit compliance take a back seat. However, neglecting your compliance responsibilities can lead to fines, penalties, the loss of your tax exempt status and damage to your reputation. If that’s not bad enough, if noncompliance is not…
Financial Risk Assessment Checklist for Nonprofits
Serving on the board of a nonprofit organization can be a labor of love. Whether you’re the President or Treasurer, you’re driven by a mission to make a meaningful impact. However, as they say, “with great purpose comes great responsibility.” This is especially true when it comes to managing and protecting your nonprofit’s finances. A…
How to Deal with Nonprofit Board Decisions that You Don’t Agree With
In the nonprofit world, many factors go into board decisions—budgets, strategy, stakeholder interests and more. It’s inevitable that, at some point, you’ll find yourself in disagreement with a board decision. In this week’s Two-Minute Treasurer Tip Podcast, Cyndi shares some tips for navigating these waters and turning moments of tension into an opportunity for growth.…
New Features: Compliance, Assets and Reimbursement
Here at MoneyMinder, we’re always working to make nonprofit financial management easier and more efficient. After all, many of you are volunteers with busy schedules. Why juggle multiple tools to ensure financial accuracy for your group? We’re excited to announce some new features launched with MoneyMinder subscriptions in January of 2025. Here’s how these tools…
990-EZ Extension: What is IRS Form 8868?
If you’re a small, tax-exempt organization with gross receipts averaging between $50,000 and $200,000, you are likely eligible to file IRS Form 990-EZ. This form is due on the 15th day of the 5th month after your financial year ends. So a group with a January 1 start date needs to file by May 15th.…
8 Strategies for Reducing Conflict in Your Volunteer-Based Nonprofit
Volunteer-based nonprofits are the backbone of many communities. At MoneyMinder, we’ve been working with these groups since 2003 (and volunteering with them for a lifetime). We’ve witnessed how even the most well-intentioned groups can experience conflict. Nonprofit conflict can stem from a variety of sources, such as differing opinions, personality clashes and misunderstandings. Most of…
Nonprofit Best Practices: Fiscal Year Alignment
Many nonprofits find themselves in a situation where their budget period, bylaws and financial software don’t align with their official year as stated with the IRS an their Secretary of State. While it’s possible to manage this with extra effort (and risk), there’s a much simpler solution: fiscal year alignment. Benefits of Fiscal Year Alignment…