Nonprofit Accounting Basics

Recent Articles

Nonprofits Can Better Manage Overhead Expenses

Originally Posted: May 23, 2023

Managing a nonprofit organization’s overhead (management and general) expenses is just as important as managing program and fundraising expenses. Most nonprofits would not dispute this statement.

Stewardship & Accountability

Originally Posted: May 9, 2023

As board members and managers of nonprofit organizations, we are constantly reminded that we must be good stewards of the public trust, ensuring the resources of our organizations are well protecte

UNDERWATER ENDOWMENTS: Definition, Determination, Display and Disclosures

Originally Posted: April 11, 2023

From time to time, Organizations may face the prospect of an endowment going underwater, it may become especially relevant in uncertain economic times as markets fluctuate.

Per Diem vs. Accountable Plans: Determining the Best Approach

Originally Posted: March 22, 2023

One of the most frustrating internal control processes for accountants and auditors alike is the dreaded company credit card and employee expense reimbursements.  You might be thinking, let’s

Security Act 2.0: What you need to know

Originally Posted: March 8, 2023

On December 29, 2022, President Biden signed the Consolidated Appropriations Act, 2023, which includes the provisions of the Securing a Strong Retirement Act, commonly called SECURE 2.0.

Updates on Excess Tax-Exempt Organization Executive Compensation

Originally Posted: February 6, 2023

The Tax Cuts and Jobs Act of 2017 added a 21 percent excise tax on tax-exempt organizations, including associations, that pay what the law defines as “excess tax-exempt organization executive compe

How Nonprofits Can Better Manage Overhead Expenses

Originally Posted: January 23, 2023

Managing a nonprofit organization’s overhead (management and general) expenses is just as important as managing program and fundraising expenses. Most nonprofits would not dispute this statement.

Employee Files

Originally Posted: December 19, 2022

Keep only what you need in an employee's personnel file.

Fiduciary Responsibility - Board Governance for Charitable Non-Profit Organizations

Originally Posted: November 28, 2022

Fiduciary obligations require charitable non-profit organizations to adhere to the highest ethical and legal standards. In every decision made and action taken, a charitable non-profit must:

Key Disclosures

Originally Posted: November 15, 2022

A key component of all audited and reviewed financial statements are the footnotes. It is in the footnotes that key transactions are explained and other important information is disclosed.

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