Planned Giving

FEBRUARY 13, 2025

These non-probate assets include 401(k) accounts, pensions, and life insurance policies. How to Create Beneficiary Designations To designate beneficiaries: Contact Institutions : Reach out to banks, insurance companies, and retirement plan administrators. Avoid Probate : These assets bypass the probate process.

Insurance 52

Insurance Insurance Policy Policies 52

Get Fully Funded

MARCH 20, 2023

When you’re just getting started, it’s critical that one of your first steps is to create your nonprofit’s first budget to help you manage both your organization and your finances as it grows. Use accounting software to help you manage your finances.

Budget 98

Budget Finance Software Liability 98

Get Fully Funded

AUGUST 16, 2024

Most COAs are organized into five categories: assets, liability, net assets, revenue, and expense accounts. Liabilities usually start with 2, net assets with 3, revenue with 4, and expenses with 5 and beyond. Then, those accounts are further divided into subcategories. For example, assets usually start with 1.

Liability 52

Liability Federal Grants Utilities Nonprofit 52

Qgiv

MARCH 5, 2024

501(c)(2) : This type of tax-exemption is for exempt organizations to create a corporation to hold the title to property the organization owns to minimize liability risks of losing the property. While the public can make contributions to these organizations, private citizens can’t create one because they’re created by congress.

Insurance 52

Insurance Insurance Nonprofit Liability 52

Qgiv

AUGUST 10, 2022

Nonprofits have two customers – the people they serve through the mission and the people or organizations which pay for all or part of the services, such as donors, insurance companies, government entities, and more. Consider having a separate session to discuss your organization’s finances.

Finance 52

Finance Nonprofit Policy Policies 52

Planned Giving

AUGUST 15, 2024

If you’re not able to make decisions for yourself because of an illness or ailment, your chosen representative steps in to handle your finances and make medical decisions. It’s like an insurance policy for your life, not just your death. Power of Attorney This is where you pick your stand-in; your understudy, if you will.

Insurance 74

Insurance Insurance SAM Liability 74

Get Fully Funded

JANUARY 16, 2024

The ins and outs of nonprofit accounting may seem overwhelming at first, but effectively recording and reporting your organization’s finances is essential to fund your mission. Also called a balance sheet, this statement breaks down your nonprofit’s assets and liabilities to provide a snapshot of your organization’s financial health.

Policy 52

Policy Policies Finance Budget 52