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GAAP for Nonprofits: How to Reconcile GAAP and Non-GAAP Results

Blackbaud

Have you ever had your board members scratch their collective heads when the development and finance teams report their results? So, while bequests, insurance policies and planned gifts are exciting for the organization, those donations won’t be reflected in the GAAP reporting. How Development and Finance Can Get Along (Really!)Does

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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 1: If you have an operating reserve, review your policy. Update the policy based on your current and future needs.

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Estate Planning Essentials: 10 Crucial Documents for Organizing Your Affairs

Planned Giving

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.

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Lessons From Debby: 5 Things Before Severe Weather Hits

The NonProfit Times

But is flooding covered under a typical commercial insurance policy? Rushing : Flood coverage is not typically included in a commercial insurance policy. Although you might be able to purchase flood insurance from your carrier or add it to your policy, many managers do not.

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Nonprofit Accounting Basics: 5 Fundamentals to Know

Get Fully Funded

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. Jitasa’s nonprofit financial management guide recommends creating the following fiscal policies: Gift acceptance. Expense reimbursement. Staff compensation.

Policy 52
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Nonprofit Board Member Onboarding: 12 Things to Cover

Qgiv

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. In short, the board’s duty is to deal with the policies and the “big issues.” Think strategic, 3,000-foot view.

Finance 52
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4 Nonprofit Financial Management Challenges (& Solutions)

Get Fully Funded

When you start a nonprofit, one of the most important things to figure out is how to manage your organizations finances. However, you can strategically cut other administrative costs by: Evaluating your organizations insurance plan to ensure youre getting the right amount of coverage for the best price.