Blog

State Grant Money Has Its Own Audit Rules

Under $1 million in federal awards does not mean you are clear. North Carolina sets its own reporting level, and State money counts toward it.

Three Things an Auditor Finds in Your Restricted Funds

Three real findings from grant readiness reviews: an endowment transfer, a misposted gift, and two functional expense structures running at once.

What a SEFA Is, and What It Takes to Build One

The Schedule of Expenditures of Federal Awards is the document your Single Audit is built on. Most organizations try to assemble it in March.

The Indirect Cost Rate Went to 15%, and What That Is Actually Worth

If you have no federally negotiated rate, you can now charge up to 15 percent. Here is what that is worth on a $600,000 program.

The Single Audit Threshold: What the $1 Million Rule Means for Your Nonprofit

The threshold is $1,000,000 in federal awards expended during your fiscal year. Knowing whether you’re over it is harder than it sounds.

Making Sense of Deferred Revenue in Nonprofit Finances

Why Deferred Revenue Exists: A Closer Look

Understanding Cash vs. Accrual Accounting: Which Method is Right

When it comes to managing the finances of a nonprofit organization, choosing the right accounting method is important.

How to Record Monetary Donations in QuickBooks Online

This guide will walk you through how to record a cash or check donation, step by step.

How to Record In-kind Donations in QuickBooks Online

In-kind donations are non-cash gifts, such as donated equipment, professional services, or supplies. In-kind donations can be relatively easy to book.

How to Overcome Debit and Credit Confusion with D.E.A.L.E.R.

If you're new to QuickBooks, understanding how debits and credits work can be confusing.

Donations are Products in QuickBooks: How To Set Them Up

Recording donations in QuickBooks is typically done using a sales receipt, which both records the information correctly and allows you to easily print or email a donation receipt.

Turn QuickBooks Sales Receipts into Donation Receipts

When using QuickBooks, a Sales Receipt can be used to accept donations and provide donors with a receipt.

Statement of Financial Position: A Leader's Guide

The Statement of Financial Position is also known as the Balance Sheet and provides a snapshot of your organization’s finances.

A Guide to Nonprofits' Key Financial Reports

Financial statements are crucial for understanding your nonprofit’s financial health, making informed decisions, and raising new funds

Statement of Activities: Your Nonprofit’s Story of Impact

You will also hear this report called an Income Statement or a Profit & Loss Statement.

Cash Flow Statement Insights Nonprofit Leader Should Know

The Cash Flow Statement primarily focuses on liquid cash, meaning actual cash that the organization has on hand, and cash equivalents.

Statement of Functional Expenses: A Nonprofit Leader's Guide

The Statement of Functional Expenses (SFE) is a cornerstone report for nonprofit organizations

IRS Compliance Basics: What You Need to Know About Form 990

Running a nonprofit means staying on top of IRS filing requirements