Nonprofit Accounting Basics

Governance

Oversight: Fiduciary Duty

Originally Posted: June 11, 2009

As the fiduciary of the organization, the board as a body and each individual board member must always act for the good of the nonprofit.

Personal Giving

Originally Posted: December 30, 2008

If your organization does not rely fully on earned income or government grants or contracts, it most likely is involved in raising funds from individuals, foundations, and/or for-profit corporation

Policies

Originally Posted: December 30, 2008

Every nonprofit needs operational guidelines for staff and the board. The purpose of the policies is to serve as a guide for actions and behavior and as a reference for ethical decision making.

Policy Development Outline for Small and Midsize Nonprofit Organizations

Originally Posted: January 14, 2022

The following steps are designed to prompt responses that can become the components of a gift acceptance policy that can serve as a guideline for staff and board.  

Protection

Originally Posted: December 30, 2008

Satisfactory protection against liability (and loss) starts with rigorous risk management.

Reserves

Originally Posted: December 30, 2008

Operational reserves

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

Risk Management Plan

Originally Posted: December 30, 2008

The board bears the responsibility for the safety of the organization.

Role in All Volunteer Organizations

Originally Posted: December 30, 2008

Most nonprofits start as all-volunteer organizations (AVO), without a paid staff. The organization operates with the support of its board and maybe additional volunteers.

Setting Organizational Direction

Originally Posted: June 10, 2009

The board is responsible for defining and guarding its mission, setting the direction for the organization, and ensuring clearly-set values guide every decision.

Simple Governance Steps for Nonprofits

Originally Posted: June 9, 2015

Most nonprofit organizations focus their energy and resources on dedicated causes.

The Basics of Nonprofit Dissolution

Originally Posted: September 29, 2021

Weathering the storm of major disruptions financial disruptions is a challenge for all organizations.

Volunteer Protection Act

Originally Posted: December 30, 2008

The Volunteer Protection Act of 1997 provides personal immunity to individuals who act on behalf of an organization in a volunteer capacity.

Who handles the finances?

Originally Posted: April 23, 2012

Every nonprofit must clarify how the board and the staff interact when handling the financial issues affecting the organization.

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