Nonprofit Accounting Basics

Recent Articles

Accounting for Promises to Give

Accounting for Promises to Give Under GAAP, the term “promises to give” is used to describe donor agreements to contribute cash or other assets.

Treasury to Phase Out Paper Checks for Federal Disbursements and Payments

A recent Executive Order directs the U.S.

Top Tax Tips for Nonprofits in 2025

Navigating tax compliance is a crucial responsibility for nonprofit organizations.

Reserves

Operational reserves

Operational reserves are funds an organization accumulates over the years by operating with a surplus.

Liability

With authority and legal responsibility comes liability.

Strategies for Nonprofits to Sustain Operations During Federal Funding Pauses

In light of recent U.S. government actions, nonprofit organizations are facing significant challenges due to a temporary halt on federal financial assistance, including grants and loans.

Federal Tax Deadlines for Exempt Organizations: Essential Compliance requirements along with their required deadlines

When it comes to federal tax filings, exempt organizations have various deadlines and requirements based on their classification and financial activities.

The Fine Print - Decoding Nonprofit Financial Statements Footnotes Disclosure

Importance of the Footnote Disclosure

Charitable Contributions: Requirements for Written Acknowledgements

Navigating the world of charitable donations can be overwhelming as there are many different types and rules to consider.

Independent Voting Members of the Board

The definition of an independent voting member of the Board of Directors for Form 990 purposes includes four criteria that must be met for independence: