financial management
Considerations for Starting a Community Garden for Your HOA
When it comes to growing your own food, there are a great many benefits. Not only do fresh air and digging in the dirt provide some good old-fashioned outdoor therapy, having fresh fruits and vegetables on hand promotes health and wellness. But gardening as a community takes these benefits to the next level. It allows…
What’s the Difference Between Restricted and Reserved (Unrestricted) Funds?
One common question we see at MoneyMinder is about the difference between Restricted and Reserved funds. What are the rules for the different kinds of funds that are raised? How they can be allocated? And how can changes be made, if at all? These questions came up a lot during Covid as organizations had to…
Do You Need to File a Tax Return if Your Group Had No Activity?
It’s been a tough year for too many reasons to count. From virtual fundraising to online holiday events, nonprofit groups have shown their ability to adapt to a strenuous situation. But not all groups were able to continue when the pandemic hit. Our support team has received a few inquiries around this topic and we…
Generating Nonprofit Financial Statements for Your Small Group
So, you’ve been elected Treasurer for your PTA, Booster Club, Rotary or Sports League. Even if you aced accounting in college, this responsibility isn’t to be taken lightly. Providing a nonprofit financial statement is an absolute must. Here’s why. Your board members and/or key stakeholders need to know what has changed with the finances since…
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…
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…
MoneyMinder Named in Capterra’s Top 10 Most Popular Budgeting Software
Bellingham, Washington June 5, 2020 – MoneyMinder by NonProfit Central announced today that it has been named a Top 20 Budgeting Software by Capterra, an online service that helps organizations find the right software. In fact, MoneyMinder is in spot #10 with review scores of 50/50. Our small business is so proud to be named…
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,…
Collecting Dues When Times Are Tough
When your organization or community faces hard times, you may feel uncomfortable collecting dues from your members. Whether you are managing due collection for a sports team or an HOA, it is important to remember how crucial dues are to keep your organization running properly. Keep in mind that your members are most likely loyal…
Treasurer Transition Strategies for HOAs
Serving as the treasurer for your HOA Board of Directors is an important job. To make your job as treasurer a little easier, there are a few things you can do to smooth your transition onto the Board. Smooth transitions are not only key to your success but they can aid in future changeover which…