Forum Replies Created

  • CoFounder_Structural_Integrity

    Member
    September 5, 2024 at 1:20 pm in reply to: Expensing Against Restricted Funds

    Sean, if your organization manufactors the items to be donated, you should use the funding to cover the manufactoring costs (restricted funding would be fully draw down by actual expenses incurred).

    My thinking is if a book costs $10 to manufactor and is sold for $15, a $15,000 donation would allow for for the donation of 1,500 books, not only 1,000. Otherwise, you received $15,000 in donated revenue and only consumed $10,000 of it, leaving $5,000 of restricted revenue on your books.

    I am open to others perspectives on this as I have not managed this situation myself and I am not a CPA.

    With gratitude,

    Dave

  • CoFounder_Structural_Integrity

    Member
    May 30, 2024 at 3:22 pm in reply to: Managing Operating Funds

    I would explore options for earning a return on any cash you know you will not need for at least 3 months. Vanguard Fund VMFXX, which is likely what your board member is suggesting, is a great option, depending on the size of the investment. Moving funds from your operating bank account to/from Vanguard may just require a phone call which is likely worth the return.

    The suggestion of exploring an interest bearing savings options with the bank you hold your operating funds is also a great option, especially if you can move funds to/from accounts online. Again, depending on the size of the investment, giving up a 1% or so for ease of cash management online may be worth it.

    In any case, idle cash should be drawing interest despite requiring a bit of adminstrative attention.

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