Found 941 Results
Reply To: Recommendations for nonprofit social enterprise accounting services
Congratulations on completing the REDF Accelerator! It’s a great way to strengthen your QuickBooks Online setup. Project tracking could make grant reporting and financial decision-making…
Reply To: What should donors look at when evaluating a charity’s financial health?
Donors should look beyond overhead and consider whether a charity has healthy reserves, credibility and stable revenue. This is a lot easier to assess now…
Reply To: 990 Tax form
For learning Form 990 preparation, I’d start with the IRS instructions and prior completed returns before buying expensive books. There are also several nonprofit accounting…
Reply To: Property rental
Property use fees would not normally be treated as donations simply because the property is nonprofit-owned. I’d look at whether the payment is actually rental…
Reply To: Recommendations for nonprofit social enterprise accounting services
I’d look for a nonprofit accountant who understands both QuickBooks Online and social enterprises, rather than simply a general bookkeeper. Your chart of accounts and…
Reply To: Passthrough funds & how to report them on 990
I’d lean towards following your consultant’s treatment, but I’d ask them to confirm the pass-through arrangement against the 990 rules. If it must be reported,…
Reply To: In-Kind Donations
That’s a great question. For in-kind donations you receive, record them at fair market value on the date they arrive. For goods, use retail or…
Reply To: Private: Budgeting for salaries and cost of living
We took a blended approach to address rising costs. We gave all staff a 5% cost-of-living increase to help with inflation. Then we added a…
Reply To: Multi year grant with a budget
Yes, that could potentially be a condition, but the wording of the grant agreement matters. Under ASC 958-605, specific requirements around qualifying expenses can create…
Reply To: 50/50 Fundraiser Ticket sales Revenue/Expense Question
I’d lean towards recording the organisation’s share as revenue and the winner’s share as a liability, rather than treating the entire pot as revenue and…