Posts Tagged: "accounting"
November 9, 2021
5 Financial Best Practices for Nonprofits#1: Find a Trusted Financial Advisor #2: Go Paperless The benefits of going paperless span from saving the environment to streamlining processes and saving costs throughout the organization. Paper drives manual processes and inefficiencies which sap energy and funds. Going paperless, from invoicing to bill payments to full-blown accounting in the cloud, helps nonprofits to…
October 28, 2021
JMT Consulting and Vena as Life Saving ToolsTools to Navigate a Nonprofit Budget Process In the past few years, we, as a whole, have learned that there’s no excuse for working with outdated technology, especially when it comes to the process of budgeting. When we talk with nonprofits about their budget process, it’s usually accompanied by moans and groans about what an…
May 14, 2018
A Nonprofit’s Guide to Government ComplianceCompliance is a hefty responsibility for nonprofit organizations; indeed, more so than for-profit companies. As the firm Harbor Compliance points out, there’s a good reason for that—nonprofits are exempt from federal corporate taxes and can receive public funding. Both the IRS and states have requirements for nonprofits. The penalties for noncompliance can be severe. A…
May 7, 2018
Integrating Systems to Reduce Financial Risk for NonprofitsNonprofit organizations demand a lot from their software. According to a 2015 survey conducted by Software Advice, a company that provides research and online reviews of fundraising software, nonprofits want greater functionality and tools from their investments. Not only that, they want their fundraising/donor management programs and other platforms to work seamlessly together. In fact,…
May 8, 2017
One-on-One with John AlfonsoJohn Alfonso is an accomplished CPA with over 30 years of experience providing audit, accounting, and consulting services to not-for-profit organizations. He works extensively with associations, community development corporations, educational institutions, private foundations, religious organizations, governmental entities, and social service agencies. Based in New York, John is a partner in CohnReznick’s Not-for-Profit and Education Industry…
February 23, 2017
A Practical Guide to the FASB ASU 2016-14 for NonprofitsLast August, the Financial Accounting Standards Board (FASB) announced some major changes to accounting rules titled, “Presentation of Financial Statements of Not-for-Profit Entities.” By implementing these changes, the FASB hopes to bring increased visibility into nonprofit financial statements, what goes into the statements, and how the statements are presented. While this shouldn’t be a surprise…
April 6, 2015
What is Nonprofit Accounting Software?I spoke recently with a prospective client that asked a simple question: What makes nonprofit accounting software “nonprofit accounting software”? I realized at that moment that there are software products in the marketplace that bill themselves as being “built for nonprofits” and there are others that claim to “work well for nonprofits”, but then…
July 15, 2013
Sage Nonprofit Solutions is Now AbilaAs many of you may have seen through email communications and press reports, Sage Nonprofit Solutions has completed the next step in their transition to being an independent company. The company that produces the products known as Sage 100 Fund Accounting (aka “MIP”), Sage Fundraising 50, Millennium and Sage Grant Management will now be known…
