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What’s New and What’s Next: Why Your Finance Team Should Attend bbcon 2024

Blackbaud

There are several exciting times of the year for nonprofit finance professionals—budget season, audits, year-end close. They will discuss the importance of having both your development and finances teams involved in donor stewardship. Reporting is a key part of any finance professional’s role.

Finance 85
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3 Strategies to Build Your Organization’s Financial Capacity

Blackbaud

Develop a more accurate overall budget In collaboration with your organization’s finance committee, create a more accurate overall budget by using project or program-based budgets. Calculating indirect costs can be challenging.

Finance 100
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Why Fund Accounting Software Beats Spreadsheets for Nonprofit Grant Reporting and Compliance

Blackbaud

Understand Your Indirect Costs Tracking and allocating your indirect costs is one of the most tedious aspects of grant applications and reporting. Some grants may come with lots of stipulations about what operating costs they will fund—and how much. Ready to tackle the tasks of grants?

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

Blackbaud

From creating a financial cushion to clearly managing your financial reporting, your finance team can create a strong foundation to help you weather whatever the new year has in store. Tip 2: Bring both your program and finance teams into the grant application and award process.

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Your Unrestricted Funds Need Stewardship, Too

Blackbaud

Many don’t cover operating costs or have a small allotment for indirect costs such as salaries, insurance, and utilities. So, the organizations behind the grants use the reporting requirements to make sure the funds go towards addressing those impact areas. Restricted funds often outline what they will fund and what they won’t.

Funding 94
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The Essential Guide to Nonprofit Budgets in 2024

Grant Writing Made Easy

Components: Direct Costs: Expenses that are directly tied to the program, such as materials, staff salaries specific to the program, and direct operational costs. Capital Costs: If applicable, costs associated with purchasing or upgrading physical assets for the program.

Budget 52
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13 Tips for Ensuring Government Grant Compliance for Your Nonprofit Organization

Blackbaud

Relying on core policies that include both finance and program offices improves collaboration because everyone knows what their roles are and where the directive comes from. Tip 4: Calculate your indirect cost or make an intentional decision to use the de minimis rate. Make sure your program team understands their role.