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The 4 Core Nonprofit Financial Statements & Their Insights

Pamela Grow

Each of these documents organizes and summarizes your organizations financial data in a different, actionable way to promote improved internal decision-making and external transparency. Liabilities. These appear on the statement in order of payment due date, with short-term investments listed above long-term liabilities.

Liability 130
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Estate Planning Essentials: 10 Crucial Documents for Organizing Your Affairs

Planned Giving

This entails organizing various legal documents to ensure your wishes are respected. Below is a comprehensive checklist of the essential documents needed for effective estate planning, why they are important, and how to obtain them. Sign the Document : Ensure it is signed and notarized.

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What Are 7 Common Nonprofit Startup Costs?

GrantNews

Cost of Incorporation& Tax-Exempt Status Every nonprofit startup must file a legal document known as the articles of incorporation with their state to begin the process. Nonprofits often use a lawyer to get a set of ‘trained professional eyes’ on their documents. The cost usually runs from $200-$300 a month.

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Should You Have A Grant Writers Kit?

Red Tape Busters

Generally, a Grant Writers’ kit simply represents a single place to access all the information and documents that are typically requested when grant writing. They are documents that may only change annually (financials) or not at all (company registration records). Insurers and grant funding will usually ask for both.

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Why You Should Run Your Nonprofit Like a Business

Get Fully Funded

Even in the early days when the donut shop is struggling financially, appropriate insurance is required. So work with an insurer or an insurance broker to understand the coverage you need to best protect your organization and its liability. There’s always that possibility. We’ve seen it time and time again.

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How to Create a Nonprofit Chart of Accounts: 3 Steps + Tips

Get Fully Funded

While maximized fundraising seems like the solution, the truth is that it takes responsible allocation of your resources to make sure every dollar is used wisely—and this starts with effective documentation. Most COAs are organized into five categories: assets, liability, net assets, revenue, and expense accounts.

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Understanding Probate: A Comprehensive Guide to the Probate Process

Planned Giving

These include: Assets with a Named Beneficiary: Such as life insurance policies or retirement accounts. Non-Probate Assets Without a Beneficiary: Certain assets like life insurance policies and retirement accounts pass directly to a chosen beneficiary. Inventorying the Estate: Compiling a detailed list of assets and liabilities.