Blog

Managing finances is a critical part of running a nonprofit organization in Seattle. While nonprofits focus on serving communities, raising funds, and driving social impact, accurate financial management is equally essential.

Nonprofit organizations work tirelessly to serve communities, support social causes, and create meaningful impact. While their focus is often on programs and outreach, maintaining accurate financial records is equally important.

Nonprofit financial data security is essential because nonprofit organizations operate on a foundation of trust, accountability, and transparency.

Nonprofit accounting software plays a critical role as nonprofit organizations operate in a financial environment that demands a higher level of transparency, accountability, and compliance than most for-profit businesses, a reality well understood by Good Steward Financial Company.

Effective nonprofit payroll management is one of the most critical yet complex responsibilities for organizations that rely on variable grant funding, Good Steward Financial Company.

Managing payroll in a nonprofit organization involves more than issuing paychecks, especially when it comes to nonprofit stipends payroll.

Quick Books setups require specialized configuration to accurately manage donations, grants, fund balances, and program-specific expenses.

Choosing whether to outsource bookkeeping nonprofit operations or manage everything in-house is one of the most important financial decisions nonprofit leaders faces.

Nonprofit strategic financial planning plays a vital role in helping organizations achieve long-term sustainability and mission-driven success. By connecting financial decisions with strategic objectives, nonprofits can maintain stability even in uncertain economic or funding environments.

Understanding when hiring a fractional CFO for your nonprofit is essential for organizations experiencing growing financial complexity. As nonprofits expand programs, manage diverse grant portfolios, and navigate evolving compliance requirements, the need for strategic financial oversight becomes mission critical.

Learn how to structure a non profit budget to build long term financial health. Discover budgeting best practices, templates, and tips for managing restricted funds and planning for growth.

Learn why nonprofit cash flow management is vital for stability. Discover forecasting tips, cash gap solutions, and strategies to keep your mission funded.

Nonprofit organizations play a crucial role in society by addressing various social and environmental issues. However, to maintain trust and credibility with donors, stakeholders, and the public, nonprofits need to adhere to strict accounting standards. Compliance with nonprofit accounting standards is essential for ensuring transparency, accountability, and financial integrity. In this article, we will explore […]

Nonprofit organizations play a vital role in our society by addressing various social, environmental, and cultural needs. While their primary focus is on fulfilling their mission rather than making profits, financial management is crucial for their sustainability and effectiveness. In this article, we will explore the importance of financial management in nonprofit organizations and how […]

Nonprofit organizations play a crucial role in society by addressing various social, environmental, and community issues. While their primary focus is on making a positive impact, these organizations also face numerous accounting challenges that are unique to their sector. In this article, we will explore some of the common accounting challenges faced by nonprofit organizations […]

Nonprofit organizations play a crucial role in society by addressing various social issues and providing support to those in need. However, managing the finances of a nonprofit can be a complex task, requiring careful bookkeeping and financial management practices. In this article, we will discuss some top tips for streamlining bookkeeping for nonprofit organizations. 1. […]

In the realm of nonprofit organizations, financial management plays a crucial role in ensuring sustainability and success. Nonprofits operate under unique financial structures that require specialized expertise to navigate effectively. This is where partnering with a nonprofit accountant near you can make a significant difference. By enlisting the services of a professional who understands the […]

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 […]

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 […]

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, […]

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 […]

Nonprofit organizations play a crucial role in our society by addressing various social, environmental, and community needs. Managing the finances of a nonprofit organization is a complex task that requires accuracy, transparency, and compliance with regulatory requirements. One key aspect of financial management is bookkeeping, which involves recording financial transactions, generating financial statements, and ensuring […]

In the dynamic landscape of non profit organization accounting, effective financial management serves as a linchpin for sustainability and mission fulfillment.  Establishing robust accounting systems tailored to the unique needs of nonprofits is not just a matter of compliance; it’s a strategic imperative for fostering transparency, accountability, and donor trust. In this comprehensive guide, we […]

Seattle, WA, stands as a beacon of innovation, diversity, and community engagement for non profit organization accounting. Within this dynamic cityscape, nonprofit organizations play a pivotal role in addressing social inequities, environmental concerns, and cultural enrichment. Yet, amidst their noble endeavors, nonprofits often grapple with the intricacies of financial management – navigating donor contributions, grant […]

We’re so excited to introduce you to Kaleb Shaw, a bookkeeper who’s been with us since he started as an intern in 2022. Many of you will recognize his name, as he serves Good Steward’s nonprofit clients faithfully by balancing their reports and reviewing records for accuracy. He’s been a valuable member of our team […]

Cash management is a critical aspect of financial stewardship for nonprofit organizations. Proper management of cash flow ensures that nonprofits can meet their financial obligations, pursue their mission effectively, and maintain the trust of donors and stakeholders. In this blog post, we’ll explore key strategies that nonprofit organizations can implement to improve their cash management […]

In the world of nonprofit organizations, managing finances efficiently is crucial for sustainability and growth. Proper bookkeeping is the foundation of sound financial management, ensuring that resources are used effectively to achieve the organization’s mission. In this guide, we’ll explore the importance of bookkeeping for nonprofit organizations and how professional bookkeeping services can help streamline […]

Managing payroll can be complex, especially for nonprofit organizations where every dollar counts. Good Steward Financial Company understands the unique challenges nonprofits face and is here to simplify the payroll process for you. In this guide, we’ll explore the key aspects of payroll for nonprofit organizations and how Good Steward Financial Company can help you […]

In the realm of nonprofits, financial transparency and efficiency are essential pillars that underpin their success. Keeping track of donations, managing budgets, and ensuring compliance with stringent regulations are paramount. QuickBooks, a versatile accounting software, emerges as a powerful tool tailored to streamline financial processes for nonprofits. Let’s delve into how QuickBooks for nonprofits can […]

As the festive lights of December twinkle, signaling the approach of Christmas and the anticipation of a New Year, we at Good Steward Financial Company find ourselves reflecting on the year gone by and the profound values that guide our services in nonprofit bookkeeping. A Time of Giving and Gratitude In this season of giving, […]

As the crisp November air swirls with the rich scents of Thanksgiving, it’s a poignant time to reflect on what we’re grateful for. At Good Steward Financial Company, our hearts are full of appreciation for the myriad of nonprofit organizations we serve. Your tireless commitment to making the world a better place is what fuels […]

As October ushers in the vibrant colors of fall and the playful spookiness of Halloween, it’s a stark reminder that the end of the year is hauntingly close. For many nonprofit organizations, this can be a chilling thought, especially when finances and bookkeeping are still lurking in the shadows. But fear not! At Good Steward […]

As a 501c3 nonprofit organization, you are not required to pay federal taxes on your revenue. Instead, you can reinvest those funds back into your organization and its mission! However, that doesn’t mean that you are exempt from an annual audit. There are no all-encompassing federal annual audit for nonprofit organization requirements; however, states, grantors, […]

For nonprofits, QuickBooks Online is one of the most popular bookkeeping tools, and for good reason! However, you cannot take advantage of QuickBooks’ full-service bookkeeping capabilities if you don’t know how to use it. At Good Steward Financial Company, our mission is to further your nonprofit’s mission, and that’s why we are proud to offer […]

Do you think your nonprofit organization or small business is too small for a Chief Financial Officer? Think again. Ask yourself the following questions: Are financial issues distracting you from your mission? Are you struggling with setting short-term and/or long-term financial goals for your organization? Are you worried that your business or nonprofit might encounter […]

When you’re in the city that never sleeps, there’s always something to be done! And that’s where your nonprofit comes in. However, you can’t do it all alone. Whether you’re in the Bronx, Brooklyn, Manhattan, Queens, or even Staten Island, Good Steward Financial Company is your go-to nonprofit bookkeeping service near me. We are a […]

You are ready to make a difference. You’ve clarified your mission and gathered your team, and now you are going to make it official. But there’s a big question: should you start a nonprofit organization or a for-profit enterprise? No matter which business model you choose, Good Steward Financial Company can help! We are a […]

When it comes to professional financial consulting, you already know that your small business or nonprofit organization needs someone, but who? Should you look for an accountant, a bookkeeper, or both? And what do those terms even mean? Just ask Good Steward! Good Steward Financial Company is a virtual nonprofit bookkeeping service that offers top-notch […]

If you think payroll is just about mailing checks and preparing pay stubs, think again. Payroll processing encompasses a wide variety of tasks, from onboarding new employees to tracking hours to ensuring government compliance. For nonprofit organizations and small businesses, it may be tempting to delegate payroll processing to someone who isn’t a payroll expert; […]

February 20, 2023, Burlington, NC — Jasmine Simpson Galloway, Founder and CEO of Good Steward Financial Company, LLC, has been invited to participate in the 2023 Bizwomen Mentoring Monday presented by the Triad Business Journal. The 10th annual Mentoring Monday will take place on February 27, 2023, in Cone Ballroom at Elliott University Center on […]

Having a clear view of your financial position is essential to bookkeeping for nonprofits. Not only is it an important tool; but a statement of financial position is also required for your nonprofit’s annual audit. Also known as a balance sheet, financial position is an up-to-date report of your organization’s assets, liabilities, and equity. It […]

Whether your organization has two employees or two hundred, it’s important to keep track of your workflow. Especially in the days of the hybrid workplace, there are dozens of workflow tracking applications to choose from, but did you know that you can accomplish this task with software that your non-profit or small business already has: […]

Grants are vital to any nonprofit organization’s operations. And while you may breathe a sigh of relief once you have gone through the difficult process of finding, applying for, and receiving a grant, your work isn’t done there! Grant tracking is just as important for bookkeeping for nonprofits as the funds you receive. Thankfully, you […]

November is a time for gratitude and giving back. At Good Steward Financial Company, we don’t just remember these values at Thanksgiving; they are at the forefront of our operations 365 days a year. Good Steward Financial Company is a premier nonprofit bookkeeping service, providing a broad range of 501c3 services customized to your organization’s […]

Running a 501c3 nonprofit organization is difficult. There are so many moving parts to take care of, and it can be difficult to keep track of everything–but you have to make sure that you regularly reconcile your business accounts. If you don’t have any idea what we’re talking about, don’t worry! You don’t have to […]

Your small business or nonprofit does a lot with a little. You’re experts in making the most of your resources and budget. You know where to invest and where to cut corners. But there is one corner you should never cut: a Chief Financial Officer. No matter how large or small your organization is, you […]

You’ve recently launched a small business. Congratulations! You must have a million ideas for what to do next, but before you get too carried away, you need to make sure you have a plan for bookkeeping. Good Steward Financial Company is a virtual bookkeeping service, and we specialize in guiding small businesses like yours through […]

Once you’ve decided that your small business or nonprofit needs a bookkeeping service, you may be at a loss for where to start. Choosing a bookkeeper is an important decision. The right bookkeeper can save you time and money, freeing you up to focus on your mission instead of getting lost in the nitty-gritty. However, […]

Named a Triad Business Journal (TBJ) 40 Under 40 Class of 2022 honoree, Jasmine Simpson — Founder and CEO of Good Steward Financial Company, LLC — will be honored when the TBJ celebrates the 2022 award winners. The celebration is set for February 24, 2022, at High Point University’s Nido and Mariana Qubein Arena and […]

Bookkeeping is a critical part of any business or nonprofit organization. In fact, it is often the difference between success and failure. However, it can also be very intimidating. Especially if you run a startup or a small local nonprofit, it can be extremely tempting to try to avoid spending time or money developing good […]

Whether you’ve just started your small business or your established local nonprofit is expanding, having a bookkeeper is never a bad idea. At Good Steward Financial Company, we understand the difference bookkeeping can make for organizations of any size. We are a virtual bookkeeping service designed specifically to serve the needs of small businesses and […]

You’ve got a great staff that’s ready to get things done, but how do you pay them? Your business is small–for now–and you’re trying to conserve your resources. Startups can make scant funds stretch, but investing in your business is important, too. Maybe you’ve been trying to save time and money by doing your own […]

From individual households to large corporations, budgets are crucial to maintaining fiscal health. Knowing what income you can expect and how you want to allocate that income is key. However, that’s not where your cash flow management should stop. Budgets are not enough, especially for nonprofit organizations that want to expand their impact. Growing nonprofits […]

Your nonprofit organization is en route to success. You have a strong mission, and your programs are already making a palpable impact on your community. You want to expand, but you hit a roadblock: your finances. When you started your nonprofit, it was small enough that you could handle the bookkeeping yourself, but now it’s […]

December 15, 2021, Browns Summit, NC — Jasmine Simpson, Founder and CEO of Good Steward Financial Company, LLC, has been named to the Triad Business Journal’s 2022 class of 40 Under 40 award winners. Triad Business Journal announced the winners ahead of the celebration which will take place on February 24, 2022, at High Point […]

Your 501c3 nonprofit organization is a pillar of your community. Its programs inspire a dynamic culture and make your hometown a better place to be. You have a strong vision, and you are ready to implement it. But have you thought about bookkeeping for your nonprofit? If finances are not your strong suit, Good Steward […]

As your 501c3 non-profit organization grows, you may need to scale operations by hiring employees – volunteers can only get the organization so far. The process of hiring employees has its own sets of challenges, but at the same time, it may also lead to complexities in nonprofit bookkeeping. Payroll is one area where for- […]

As the tax season comes about, nonprofit organizations often find themselves confused about what they need to file, the type of books they need to maintain, audit requirements, and more. On the other hand, nonprofit bookkeeping services are busy helping their clients collect all the necessary documents, particularly those needed for Form 990. The deadline […]

As the name suggests, nonprofits don’t earn like ordinary businesses; instead, they have a different approach towards revenue. Nonprofits and their accountants need to keep on looking for new grants, donations, and other funding opportunities. However, developing a sustainable funding model for nonprofit organizations is harder than it seems. There is a reputation to uphold […]

Having a high-performance Board of Directors translates, each with a diverse background is essential in ensuring efficiency and sound management decisions. There is no rule suggesting that board members need to have a strong financial background. However, there are certain skills that they must be adept at. Accounting and finance drive significant strategic decisions and […]

Accounting for 501(c)3 nonprofit organizations can get very tricky, especially when it comes to handling the income generated, loss, or any profit earned from day-to-day activities, such as a cafe, merchandise stall, store, etc. QuickBooks® Online (QBO) is a nonprofit accounting software that strives to make this easy, but is it really the best platform […]

One of the biggest pain points of 5015(c)3 nonprofits is to maintain timely and accurate financial records within their tight budget. They have to find methods that are more cost-effective but often also means that these methods used might not be as efficient. Hiring an internal accountant is one thing, but outsourcing the accounting department […]

Good Steward Financial Company is happy to announce that Aiyahna Edwards has moved into a full-time role as Staff Accountant! Aiyahna’s been with us since last summer, first as an intern and then as a part-timer while she finished her senior year at NC A&T State University. She just graduated with a BS in Finance, […]

No business can operate properly without a CFO to manage the financial situation and design financial growth strategy. However, small businesses or non-profits sometimes find it difficult to have dedicated resources for separate business functions or easily fill a vacancy if a team member leaves. One of the worst mistakes a business can make is […]

Most nonprofits don’t need to conduct audits, saving them worries related to this aspect of running an organization. However, getting an audit done might not be as bad of an idea. It will give them several benefits and make opting for annual audit assistance from a virtual bookkeeping business easy. Let’s look at how audits […]

Good Steward Financial Company, LLC, is excited to announce the promotion of Brian Geerlings from Director of Accounting to Chief Operating Officer. Brian has been with Good Steward Financial Company since January 2021 and has already contributed significantly to our firm and to our mission of providing exceptional and comprehensive service offerings. With more than 15 […]

Cash flow management is a critical part of the business because it allows the company to plan transactions and manage liabilities. Tracking, monitoring, and reporting cash flows is a routine part of running a business and requires a dedicated part of the team to look after it. Because non-profit organizations and small businesses cannot always […]

As a 501(c)3, you have a mission to work on…but you cannot make a difference without adequately managing your finances. Fortunately, QuickBooks offers services that are geared specifically towards the needs of nonprofits. A virtual bookkeeper and a nonprofit QuickBooks service can provide you with peace of mind when it comes to the finances of […]

Setting up a 501c3 nonprofit organization is no easy task and requires plenty of supervision, hard work, and operational control to be successful. Since it is difficult for founders to have the required expertise for every function, they can always benefit from hiring a virtual bookkeeping business for their nonprofit bookkeeping services. Following are 3 […]

Bookkeeping has long been an essential part of operating a business and has played a vital role in helping both profit-making and non-profit organizations keep track of their cashflows and accounts. While the benefits of having full bookkeeping and accounting services might not be obvious for owners of small businesses or non-profit organizations, they are […]

When you set up your small business, did anyone tell you how to take care of your financial records?​ Maybe you heard it’s a good idea to open a separate bank account for your business and buy an accounting software, but you don’t know what to do beyond that. Except make more money than you […]