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No Nonsense Nonprofits - Tips by Sandra Ray, CPA
United States
Приєднався 30 чер 2023
Understanding Net Assets in Nonprofit Accounting
By the end of this session, you will clearly understand net assets, the various types you might encounter, how to account for them, and their importance in financial statements.
There are two primary categories of net assets: those with donor restrictions and those without. Learn how these assets are recorded, their representation in financial statements, and the importance of accurate management.
Grasping the concept of net assets not only fosters donor confidence and ensures compliance but also highlights the financial and organizational health of our institutions.
Don't miss this valuable discussion on the fundamentals of net assets and their role in the financial landscape.
There are two primary categories of net assets: those with donor restrictions and those without. Learn how these assets are recorded, their representation in financial statements, and the importance of accurate management.
Grasping the concept of net assets not only fosters donor confidence and ensures compliance but also highlights the financial and organizational health of our institutions.
Don't miss this valuable discussion on the fundamentals of net assets and their role in the financial landscape.
Переглядів: 7
Відео
Statement of Functional Expenses
Переглядів 416 годин тому
Understanding the Statement of Functional Expenses is vital for accurately assessing the costs associated with different activities and programs within your organization. This statement plays a critical role in internal and external reporting, shedding light on areas that may require additional fundraising efforts. Furthermore, it allows for comparisons of activities across different periods an...
Year-End Accounting Checklist for your Nonprofit
Переглядів 3114 днів тому
A year-end checklist is a crucial tool for maintaining accurate financial records and ensuring compliance with regulations. In this video, we’ll walk you through the key advantages of using a year-end checklist for your financial statements. From following GAAP rules to meeting government obligations like submitting Form 990, this checklist helps ensure everything is in order. By reconciling ac...
GAAP Update and Key Reminders
Переглядів 728 днів тому
In this video, we're bringing you a quick update on GAAP, with a focus on recent developments that could impact your nonprofit organization. While there haven’t been many major changes in nonprofit accounting recently, there are some key updates and important reminders you should be aware of-especially around issues that may seem unrelated to nonprofits but actually are. Don’t forget to like, c...
Donor Advised Funds (DAF)
Переглядів 1Місяць тому
→ Donor-assisted funds are operated by a 501(c)3 public charity with legal control and advisory privileges. IRS rules govern distribution and investment, with penalties for misuse. → The National Philanthropic Trust's 2023 report revealed a 9% increase in grants from donor-assisted funds to $52.2 billion in 2022, despite a 1.1% decline in total charitable assets. → Donor Advised funds are manag...
Common Errors in Nonprofit Financial Statement
Переглядів 14Місяць тому
Ensuring the accuracy and clarity of your financial statements is crucial for making informed internal decisions and fostering trust with donors, grantors, and regulatory bodies. However, even with the best intentions, common errors can sneak in, potentially resulting in misunderstandings, compliance hurdles, or difficulties in securing funding. By focusing on elements such as fund classificati...
Strategic Budgeting and Planning
Переглядів 2Місяць тому
Discover the keys to successful Nonprofit Strategic Planning and Budgeting in our new video! 📊✨ -Evaluate your financial situation, allowing you to adapt to changes and take advantage of new opportunities. -Make confident, informed choices that reflect your organization’s core values and specific needs. 👉 Remember to like, subscribe, and click the notification bell to keep up with our latest up...
The Benefits of Financial Forecasting for Nonprofits
Переглядів 42 місяці тому
In the ever-changing nonprofit sector, navigating uncertainties can be challenging. But the benefits of financial forecasting are undeniable! In this video, we explore how nonprofits can leverage financial forecasts to manage risks, make informed decisions, and enhance their support for the communities they serve. 🔔 Don't forget to like, share, and subscribe for more valuable content! 👉 Join ou...
Nonprofit Budgeting, Forecasting, and Planning
Переглядів 142 місяці тому
💡 What You'll Learn: 1. The distinct functions of budgeting, forecasting, and planning 2. How to effectively integrate each element for optimal results Don't forget to like, subscribe, and hit the notification bell for more valuable content!
AI in Nonprofits: A Conversation with Dave Ketterer
Переглядів 142 місяці тому
Join us as Dave Ketterer dives deep into the ethical implications of artificial intelligence specifically tailored for nonprofit organizations. In this insightful discussion, he covers: The nuances of effective AI policy development ⚠️ Potential risks associated with AI adoption 🔒 The critical importance of data privacy in implementation 👉 Subscribe for more thought-provoking content and hit t...
Data Security in Nonprofits
Переглядів 53 місяці тому
In today's digital world, data security is more important than ever. It impacts every facet of our lives, from personal information to organizational operations. In our latest video, we dive deep into why data security isn’t just a concern for profit-driven entities but is crucial for nonprofits as well. Don’t miss out-watch now to secure your data and uphold the trust of those you serve.
Using AI in Nonprofit Organizations
Переглядів 163 місяці тому
In today’s video, we’re diving into the exciting world of Artificial Intelligence (AI) and its transformative potential for nonprofit organizations. In this overview, we'll explore how nonprofits can harness AI to streamline operations and maximize their impact. Don’t forget to like, subscribe, and hit the notification bell for more content on tech and social innovation.
What KPIs Should Nonprofits be Tracking
Переглядів 163 місяці тому
Incorporating key performance indicators (KPIs) into the strategic framework of your nonprofit goes beyond mere number analysis; it involves creating a strategic plan for growth and impact. In this video, we explore how a deep understanding and application of KPIs can revolutionize your organization’s strategy, enhancing efficiency and providing clarity in your goal pursuit. Tune in now to disc...
Nonprofit Financial Ratios
Переглядів 333 місяці тому
In this video, we explore the seven crucial financial ratios that every nonprofit organization should be familiar with: reserve sufficiency, fundraising efficiency, programming expenditure, working capital, operating margin, savings indicator, and burn rate. 🌟 Tune in now to learn how to choose the appropriate ratios for your nonprofit and leverage them to foster growth and amplify your communi...
Nonprofit Statement of Cash Flows
Переглядів 784 місяці тому
Welcome to our channel! In our latest video, we delve into the importance of understanding the statement of cash flows and how it plays a pivotal role in tracking the flow of cash within your organization. Join us as we break down this essential component of financial management to help you gain insights into managing cash effectively.
The Common Risks of Nonprofit Mergers and Acquisitions
Переглядів 44 місяці тому
The Common Risks of Nonprofit Mergers and Acquisitions
Mergers & Acquisitions for Nonprofits: A Conversation with John Mead
Переглядів 104 місяці тому
Mergers & Acquisitions for Nonprofits: A Conversation with John Mead
Reasons Why Non-profits May Consider Merging With Another
Переглядів 74 місяці тому
Reasons Why Non-profits May Consider Merging With Another
Mergers And Acquisitions For Nonprofits
Переглядів 75 місяців тому
Mergers And Acquisitions For Nonprofits
A Closer Look at Grant Accounting - Insights from Michelle Boyd, M.Ed.
Переглядів 125 місяців тому
A Closer Look at Grant Accounting - Insights from Michelle Boyd, M.Ed.
Risk Management and Insurance for Nonprofits: Insights from Ashleih Cheshire
Переглядів 397 місяців тому
Risk Management and Insurance for Nonprofits: Insights from Ashleih Cheshire
The Importance Of Internal Controls In Nonprofit Accounting
Переглядів 227 місяців тому
The Importance Of Internal Controls In Nonprofit Accounting
990EZ for Nonprofits | Everything You Need to Know to File
Переглядів 3348 місяців тому
990EZ for Nonprofits | Everything You Need to Know to File
Can you address the Net Assets, Fund Balance?
Could you please provide more details about your question? I'm unsure what you're specifically asking. Net Assets (also known as Fund Balance) is a broad topic.
Can you include the spreadsheets form while you are doing the presentation, please?
Thank you! I did budget forcasting for my NGO!
Great!
I just started a new nonprofit. I have a statement about charitable solicitation requirements in so many states. how can a new nonprofit with very few funds get started when you have a catch 22 that you need to ask for donations but cannot afford to pay some accountant thousands of dollars to meet those requirements every year. We should be helping new nonprofits to start to help society instead of making it impossible to get started with all these roadblocks. The nonprofit is already registered in their home state and with the federal government. You can look at those records to check on a nonprofit.
Yes, these regulations can be overwhelming! My recommendation is to start with your state. Find out what the requirements are and take steps to comply. Second, look at where your donors live and take steps to comply with the regulations from those states. The you can expand from there. I have found Harbor Compliance as a good list of filing requirements by state that includes the Charitable Solicitation regulations. Start there and then check out each states website. The link to the Harbor Compliance webpage is www.harborcompliance.com/nonprofit-compliance-guide
How does it get posted online on the irs website after submission in proseries for example?
I understand that this can be confusing. Your software company submits your return to the IRS on your behalf. The IRS receives it, processes it and posts it to their website. Once the return is completed, there are 2 ways that your 990 can posted online. Anyone (including watch dog organizations) can download the public inspection copy from the IRS website at apps.irs.gov/app/eos/. Or you can participate in the watch dog organizations' programs to increase your rating by uploading a copy of the 990 yourself. You can also upload a copy to your own website to assist you with your public inspection requirements. Please remember that Schedule B is NOT part of the public inspection copy.
Just subscribe to your UA-cam channel 😊
Thanks for sharing this knowledge! You are validating what I see in my clients
No problem at all! I'm really happy to hear that the information connects with what you're seeing with your clients. If you have any particular questions or if there's anything else you'd like to talk about more, don't hesitate to get in touch. Your feedback and experiences are incredibly important to our ongoing discussions and learning.
Found your video very helpful. I would appreciate the record retention form you mentioned. Not sure I should provide my email address here though. Please advise. Thank you.
I'm happy to hear that you found it useful. Please reach out to me via direct message on Facebook with your email address so I can provide you with a sample record retention policy. facebook.com/SandraRayCPA If you have any inquiries about nonprofits or nonprofit accounting, feel free to reach out to us.
d) Disposal.
Thank you so much!!! Very helpful video!!!
You're welcome 😇
Very informative 😸
Thank you! I'm glad you found it helpful.
Thank you for always providing useful information that we can actually use 😊.
My pleasure 😊
Sandra, very nice insight into document needs! Would add the need for a well thought out Mission Statement. We ask our clients to make this top of mind! We emphasize that this tool is a clear path forward for achieving one‘s Mission. Stephen Svanda, Managing Member.
Thanks for your feedback! Asking clients to prioritize a well-crafted Mission Statement is indeed a fantastic idea.