mary-ellen
Forum Replies Created
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I agree with Wade. The retirement severance is a cost of doing business, just like the salary and other benefits were while she was still employed there; I would allocate it based on the history.
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100%, you should make it an option for the donor to pay these days. Our nonprofit loses 3-5% of every donation and program fee for the convenience of the customer (who is frequently benefiting on their end from the use of the credit card in terms of cash back rebates, airline miles, etc). As a donor myself to many organizations, I am always happy to pay that fee, so that the nonprofit receives 100% of my donation. Make it an option, and most will chose to pay it.
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We have used Excel/Google Sheets for many years for budgeting (Quickbooks for accounting). We create an operating budget (very detailed) and a capital expenditures budget (pretty simple). A spreadsheet allows you to build all kinds of detail, formulas, past comparison data, program statistics, etc. Very flexible. Then we use it again 2/3 of the way through the year, to project the current actual P&L forward to year-end and compare it to the original budget. Very helpful for making year-end operating decisions. After the budget is approved, we input it to Quickbooks so that we can run Budget vs Actual reports throughout the year for the Board.
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Hi! I’m Mary Ellen, Director of Finance for Grand Canyon Youth. Seems like the rules/guidance are constantly evolving on this topic, and that it doesn’t always follow “logic”. Looking forward to learning more! Thank you to the organizers!