You are browsing: Financial Management
Is Your Nonprofit Ready for a Capital Project?
I have an almost-two-year old who just discovered Mega Blocks and how to stack them as tall as possible before they fall. That usually leads to some two-way negotiation about where the next block should go, to avoid a cascade of blocks and tears. (Some …
A Board Member’s Guide to Nonprofit Overhead
Calculating overhead rates and managing overhead expense are important staff roles. Board members are not required to know how do staff accounting work, but we do need to bring an informed perspective to our oversight: Harvard’s indirect cost ra …
A Funder’s Message to Other Funders About Overhead
This article is adapted from a presentation made to Grantmakers for Effective Organizations (GEO). Our deepest thanks to Unmi Song for speaking these truths: Good afternoon; I am Unmi Song, President of the Lloyd A. Fry Foundation. The overhead …
Stuck Between a Financial Crisis Wrought by the Founder and a Hard Place
A deputy director describes the crisis that befell her organization as the founding executive director left, how that organization almost closed down, and what she’s learned from it for her new job as an executive director in another state and an …
Get the Most Value from Your Audit
Audits are expensive in terms of money, staff time, and board attention. CPA Dennis Walsh tells us how to wring the most value from them: An IRS tax audit has been described as an autopsy without the benefit of death. The financial statem …
Outsource Your Bookkeeping!
Outsourced accounting — having the accounting done by an outside person or firm — isn’t new, but it is getting a second look as nonprofits search for ways to cut office costs.
Lucky 7: The Casino Industry and Philanthropy
Is it worth going all-in on casino philanthropy? Only if you know when to lay the odds and when to take the odds.
Nonprofit Bookkeeping Test
If you’re not an accountant yourself, it can be hard to hire a qualified bookkeeper. How can you tell if an applicant really knows bookkeeping? CPA Dennis Walsh created this terrific assessment test you can give candidates for bookkeeping and ac …
Meaningful Budget Work by the Board
The budget process sets an organization’s priorities. How does the board use its knowledge and leadership to add value to that process?
A Board-Staff Agreement for Financial Accountability
Use this helpful template, and a discussion on the finance committee with the ED and the finance staff to clarify roles around accountability.
