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7 Ways Your Nonprofit Can Build a Strong Financial Foundation in 2024

Blackbaud

Calculate Your Indirect Cost Rate Complete and correct cost allocation is key to the financial stability of your organization. If you aren’t including indirect costs—such as salaries or rent—into your funding requests or program planning, you are setting yourself up for stress later in the year.

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The Nonprofit Administration Dilemma: How Much Should You Spend on Fundraising?

Get Fully Funded

These are also known as indirect costs, expenses that cannot be tied directly to programs. Studies show nonprofits often have different ways of categorizing expenses, with many claiming too much for indirect or overhead costs, while others attribute expenses to programs that should be considered management and general expenses.

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Nonprofit Accounting Basics: 5 Fundamentals to Know

Get Fully Funded

Budgeting Your nonprofit’s annual budget is a key financial planning document that guides your organization’s spending and fundraising efforts. Make sure the document can easily be updated as your nonprofit grows—you may eventually need more involved procedures for handling different types of funding.

Policy 52
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Finding Funding for Research

Peak Proposals

That is, are you proposing a project so you can generate data, or are you collecting evaluation data to document the results of the project? NICRA covers indirect costs (facilities and administrative costs) and fringe benefit expenses. 4 laptops, 3 iPads, and 3 mobile phones.

Funding 52
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Accounting: Data Behind Functional Expense Reporting

The NonProfit Times

In the United States, the Internal Revenue Service (IRS) mandates nonprofits disclose detailed functional expenses on federal Form 990 (a publicly available document), reinforcing the necessity for accurate and honest financial disclosure to maintain tax-exempt status and public confidence. The occupancy costs (i.e.,