Remove Finance Remove Liability Remove Management
article thumbnail

Do You Have to Pay Taxes on Grant Money?

GrantNews

By staying informed and seeking professional guidance when needed, you can effectively manage your finances and make the most of grant opportunities without running into unexpected tax issues. Understanding how grants impact your taxes is crucial to managing finances effectively and avoiding unexpected tax issues.

Grant 124
article thumbnail

Nonprofit Financial Statements: An Overview + Top Insights

Pamela Grow

These statements help your organization with day-to-day financial management , are reviewed during audits, and store information in one place to make filing taxes easier. Essentially, it shows a snapshot of your organization’s annual financial health by comparing assets and liabilities. Liabilities. Net assets.

Liability 147
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Statement of Cash Flows: How Nonprofits Track Inflow and Outflow of Money

Blackbaud

Below, we provide more detail about this document and why it plays such a key role in successful financial management. Managing Investments and Debt: Aids in decisions about purchasing or selling assets and managing debt repayment. How Do Organizations Use the Statement of Cash Flows? What’s Included?

Finance 94
article thumbnail

Back-to-School Basics with Nonprofit Finance Fundamentals

Just Write Grants

With our digital school bells ringing, it's time to attend a masterclass in nonprofit finance. Balance Sheet : Provides a quick overview of the nonprofit's financial position at a specific point in time, detailing its assets (what it owns), liabilities (what it owes), and equity (the net assets or funds available to the organization).

Finance 52
article thumbnail

Does Your Nonprofit Need a Financial Oversight Committee?

Grant Writer Team

Managing finances can be daunting for many nonprofit professionals, particularly those new to oversight roles within nonprofit organizations. But what exactly does a nonprofit finance committee do? Read on and explore the role of the finance committee with GrantWriterTeam.

Finance 70
article thumbnail

An Essential Guide to Nonprofit Financial Management (Best Practices and Tips)

DoJiggy

Managing a nonprofit organization has its unique challenges. Nonprofits demand more from managers, especially when it comes to finances. Nonprofit financial management requires greater transparency and increased contingency planning of your budget. million in number. Both elements help you keep the lights on.

article thumbnail

How to create your new nonprofit’s first budget

Get Fully Funded

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