When most people think of an organization’s financial department, they think of accountants. But did you know there are a variety of financial professionals that are essential to the financial well-being of an organization? Bookkeepers, accountants, and Chief Financial Officers (CFOs) all serve critical roles in managing an organization’s finances. This guide will walk you through the function of each role and how they compare to one another. What is a Bookkeeper? A bookkeeper is a financial professional responsible for recording and managing a nonprofit’s daily financial transitions. Their p ..read more

The type of accounting your organization uses could be holding you back from getting the most out of your accounting system. While many nonprofits start with cash-basis accounting due to its simplicity, this method often falls short of providing a comprehensive view of a nonprofit’s financial health. Transitioning to accrual-basis accounting can offer a more accurate representation of finances and enhance long-term planning. Let’s look at the differences between cash-basis and accrual accounting and why you might want to switch. Understanding Cash-Basis vs. Accrual-Basis Accounting Before we ..read more

The middle of the year is the perfect time to pause and reflect on your nonprofit organization’s financial health. A midyear financial review helps you identify problems early and align your nonprofit’s financial performance with planned goals. Conducting a review is important, but where do you start? Use this guide to help you better understand how–and why–to conduct a midyear financial review for your organization. Importance of a Midyear Nonprofit Financial Review Most organizations know the importance of end-of-year reviews, but did you know a midyear review can have similar benefits? Doi ..read more

Nonprofits are facing increasing pressure to modernize their operations to stay effective and efficient.  They are quickly learning that outdated processes hinder an organization’s ability to reach its goals, connect with the community, and engage with donors. If this feels relatable, this article will walk you through the steps you need to modernize your nonprofit operations–from adopting technology solutions to improving data security. Assess Current Operations You can’t know what your organization needs to modernize unless you know where you’re currently at. The first thing you need t ..read more

Choosing the right accounting services is crucial for the financial health of your nonprofit. The right nonprofit accountant helps your organization properly manage its finances, which improves trust and transparency with stakeholders and donors. Let’s explore the key factors to consider when researching nonprofit accounting services–from the firm’s expertise to its technology recommendations–so you can be sure you’re getting the nonprofit accounting your organization needs. 1. Nonprofit Accounting Expertise and Experience Nonprofit accounting isn’t the same as for-profit business accounting ..read more

Leading a nonprofit organization isn’t just about passion–it’s about effective leadership. Nonprofit executive directors play an irreplaceable role in steering their organizations toward success. This guide will explore key strategies and insights to help you excel as a nonprofit executive director. Whether you’re a seasoned pro or new to the position, this roadmap will help empower you to make a meaningful impact in your community. Build Strong Leadership Foundations You can’t effectively lead an organization–or a team–if you don’t have clear goals, missions, or plans for it. The first step ..read more

On today’s episode Tosha brings on guest Dana Snyder. Dana is the host of Missions to Movements and she is also the creator of the monthly Giving Mastermind. Dana and Tosha’s conversation today will focus on digital marketing and how this tool can be leveraged, especially in nonprofit organizations, to assist in fundraising. Marketing is a fun game in the business world. The misconception is that marketing is the ‘art class’ to business. All the pretty graphics and eye catching fonts combined with the data gathered from the rest of the team makes for the perfect marketing piece. This couldn’t ..read more

Today we welcome Josi Garfield on the Modern Nonprofit Podcast for a topic that is particularly modern – artificial intelligence (AI). As the founder of Branch Out Social, a platform dedicated to empowering nonprofits through social media and marketing strategies, Josi has her finger on the pulse of digital marketing trends. In this conversation, Josi shares how nonprofits can harness the power of AI in their marketing efforts.  Why Use AI for Nonprofit Marketing? One of the biggest issues Josi sees is nonprofits often have small teams and budgets. Their team members may have no backgrou ..read more

Transparency and accountability are two of the most important factors in nonprofit accounting. Donors, the board of directors, and the public all want to know what your organization does with the funds it brings in. Being transparent in your nonprofit accounting helps build trust in your organization. But what financial reports are most important to build that trust through transparency with your board of directors? There are five main financial reports you may want to consider when presenting financial data to your board of directors, including: Statement of Financial Position Statement of ..read more

Efficient bookkeeping is essential to the success and sustainability of any nonprofit. As a nonprofit leader, it can be difficult to give your bookkeeping the time it needs to stay accurate. Luckily, modern accounting software and other bookkeeping technologies can help you keep up with day-to-day bookkeeping, reporting, and accounting tasks more efficiently.  Let’s take a closer look at the importance of efficient bookkeeping for nonprofits, common challenges, and how you can use technology to improve the accuracy and efficiency of your accounting system. The Importance of Efficient and ..read more