Blogs
Nonprofit Net Assets: What They Are and Why They Matter
Nonprofit net assets represent the remaining interest in a nonprofit organization’s assets after subtracting liabilities. Essentially, net assets are the nonprofit equivalent of equity in for-profit entities.
What Is a Nonprofit Audit? Ultimate Guide + Checklist
A nonprofit audit is an independent examination of a nonprofit organization’s financial statements and practices, conducted to ensure accuracy, integrity, and compliance with relevant laws and regulations. It is crucial for maintaining financial transparency and accountability within the organization.
How Good Steward Financial Co Can Help Manage Your Nonprofit’s Finances
Managing finances for a nonprofit organization requires a unique set of skills and expertise. Nonprofits often operate on tight budgets and rely heavily on donations and grants to fund their missions. This is where Good Steward Financial Co comes in – a specialized financial management firm that helps nonprofits navigate the complex world of financial […]
Understanding the Unique Accounting Needs of Nonprofit Organizations
Nonprofit organizations play a crucial role in society by addressing various social issues and working towards the betterment of communities. These organizations operate differently from for-profit businesses, and as a result, have unique accounting needs that require specialized attention and understanding. In this article, we will explore the distinct accounting requirements of nonprofit organizations, the […]
Key Factors to Consider When Choosing a Nonprofit Accounting Firm
Nonprofit organizations play a crucial role in society by addressing various social, environmental, and cultural issues. Just like for-profit businesses, nonprofits need to manage their finances effectively to achieve their mission and goals. One key aspect of financial management for nonprofits is choosing the right accounting firm to handle their financial matters. In this article, […]
Nonprofit Risk Management 101: Comprehensive Guide and Expert Tips for Success
A comprehensive guide to nonprofit risk management, expert tips, and success stories for ensuring the sustainability of organizations.
Nonprofit Fraud Alert: Common Scams and Prevention Tips for Donors
Discover the impact of nonprofit fraud on donors and the community, common scams to watch out for, and tips to prevent falling victim.
Nonprofit Budgeting: Understand the Basics
Nonprofit budgeting is a critical planning document that predicts expenses and allocates resources effectively, ensuring the financial health of an organization. This practice allows nonprofits to strategically plan their activities, manage funds efficiently, and achieve their mission.
How Do Nonprofits Make Money? Making Nonprofits Profitable
Nonprofits are federally-recognized, tax-exempt organizations committed to mission-driven work that serves the community.
Why Nonprofits Should Consider Outsourcing Their Bookkeeping
Running a nonprofit organization comes with its own set of challenges, especially when it comes to managing finances. Bookkeeping is a crucial aspect of any nonprofit, as it involves the recording of financial transactions and ensuring compliance with various regulations. In recent years, many nonprofits have started to consider outsourcing their bookkeeping as a way to streamline […]