Nonprofit Accounting Basics

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Strategic and Financial Planning

Originally Posted: May 17, 2009

Without a solid strategic plan to guide future decisions, direct staff in the right direction, and help the board and staff assess accomplishments, the organization functions without a rud

Term Limits

Originally Posted: May 17, 2009

The purpose of term limits is to provide rejuvenation to the board, eliminate stagnation, and allow the board to evolve as organizational needs evolve.

Size of the Board

Originally Posted: May 17, 2009

State laws determine the minimum size for nonprofit boards. In most states it is three. However, the number varies so you should be familiar with your state statutes.

Composition of the First Board

Originally Posted: May 17, 2009

Very often, the first board is made of friends of the founder or is a group of similarly-thinking individuals who are interested in and committed to the mission of the organization.

Forming a Board

Originally Posted: May 17, 2009

Every nonprofit corporation needs a board. To be able to enjoy the various benefits of a nonprofit status, the organization needs a board that stands for the organization.

Founder's Role

Originally Posted: May 17, 2009

Every founder needs to determine his or her role within the organization. Probably the most difficult thing to realize is that you will not be the owner of the organization.

Internal Structure

The first internal steps in the formation of a new nonprofit involve building a board, defining the purpose and future goals for the organization, setting up an office and/or service facilities, and setting up various systems to allow for proper recordkeeping and communication.

Define Purpose and Mission

Originally Posted: May 17, 2009

Every organization has a mission. For for-profits, it is to create profit for the owners or shareholders. In the nonprofit sector there are just about as many missions as there are organizations.

Education Initiatives

The website serves as a comprehensive portal for US not-for-profit organizations of all sizes and at all stages of development to access up-to-date reference and educational materials relating to not-for-profit financial matters. From start-up to complex intermediate sanctions issues, the website will offer an extensive bibliography of both printed and web-based materials: articles, templates, links, checklists, FAQs, and occasional live or e-mail interaction with professionals, etc.

About Us

The GWSCPA Nonprofit Financial Accountability Task Force is a nation-wide collaborative comprised of members of the accounting and nonprofit communities that seek to strengthen the nonprofit sector in the US by improving financial accountability in the sector through ongoing education initiatives and robust discussion of current topics.

Members of the task force are available for presentations relating to financial accountability issues by contacting us.

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