Remove Definition Remove Liability Remove Policies
article thumbnail

Nonprofit Accounting Basics: 5 Fundamentals to Know

Get Fully Funded

However, nonprofits like yours can’t turn a profit by definition—all of the funding you bring in has to be reinvested into your organization. Fiscal Policies and Procedures Along with your budget, your fiscal policies and procedures provide guidance for how your team should handle your organization’s funds day to day.

article thumbnail

Financial Audits for Small Nonprofits By: Kellie Brungard, GPC

Assel Grant Services

This report means the auditor thought they couldn’t issue a definitive opinion on the nonprofit. Disclaimer of Opinion – This type of report shows a company is not compliant with GAAP guidelines and portrays gross misstatements on its assets and liabilities. improving policies and procedures and strengthening internal controls).

GPC 40
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Importance of Estate Planning: Why You Need an Estate Plan

Planned Giving

Definition and Purpose of Estate Planning Think of the importance of estate planning as your way of taking care of your loved ones from beyond the grave (sounds a bit spooky, I know). It’s like an insurance policy for your life, not just your death. So, what’s all the fuss about the importance of estate planning?

article thumbnail

501c.yada, yada, yada

Sharpshooter Communications

After calling and clarifying (which took two phone calls and three emails), I fell into a rabbit hole because I realized I didn’t actually KNOW the definition of each of these categories - certainly not off the top of my head. ” I know the organization is a 501c3 but.I I mean, I kinda knew. But I didn’t really know.

article thumbnail

Nonprofit Tech Forecasts for 2013

Tech Soup

IoT is definitely not a new thing. For instance, using combined datasets on health and education for NGOs and charities could help influence policy decisions, advocacy, and strategic planning for nonprofits. Forrester Research's Chris Mines has been talking about the Smart Computing Revolution. for some time now.