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Strengthening Nonprofit Profitability through Audit-Ready Financials

Romy Andrews – Tuesday, April 03, 2018

Strengthening Nonprofit Profitability through Audit-Ready FinancialsToday's nonprofit world is characterized by greater competition for funding and increased scrutiny of your impact. This is sometimes due to fraud or poor performance of just a few nonprofits, which affect the whole.

Whatever the case, this represents an opportunity for your nonprofit to be transparent, to demonstrate accountability and to strengthen your reputation with funders and the community. And one way to do so is for your financials to be "audit ready" so that you can prove financial health and how you are investing funds in your mission, even if you are not audited.

How can you be audit-ready in a way that enables your nonprofit but doesn't hurt your Return on Mission? Investing in the right nonprofit accounting software is central to the answer.

 

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ASC 606 & Revenue Recognition Update for Nonprofits

Romy Andrews – Sunday, January 07, 2018

Is Your Nonprofit Ready for ASC 606?

The transition to ASC 606 for nonprofits is here for some and looms on the horizon for others. Are you ready? Can your accounting software handle the new revenue recognition requirements?

For nonprofits to be fully prepared, it's important to know the following, as covered in this blog:

  • Effective dates
  • Understanding new revenue recognition rules
  • Determining if you have the right accounting software to handle revenue recognition requirements
 

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Best Practices for Nonprofits Selecting Accounting Software

Romy Andrews – Monday, September 25, 2017

by Gary Volland, The Resource Group

Best-Practices-for-Nonprofits-Selecting-Accounting-Software

Nonprofits have unique needs when it comes to accounting. From fund accounting to grant administration, program management to compliance reporting – nonprofit organizations often rely heavily on software to achieve their mission. So how do you know when it’s time to select a new accounting software solution for your organization?

 

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Finding the Right Accounting Software for Your Association

Kim Anselmo – Tuesday, March 07, 2017

Focus on Your Mission, Not on IT

Focus on Your Mission vs. IT: Findng the Right Accounting Software for Your Association

Whether you're a trade association, a labor union, a professional society, or otherwise, there's nothing simple about managing the financials of a nonprofit association. The day-to-day challenges of dues collections, fundraising, budgeting, and reporting do not let up. It may seem as if you need to build a technology empire just to handle these demands.

What if there was accounting software that worked so well that it gave you clarity on your financials and left you with more time to focus on your association's mission—accounting software that left your sanity intact...?

 

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Pretty, Pretty Pictures for Nonprofits: Using Outcome Metrics to Create Understandable Results

Romy Andrews – Thursday, February 02, 2017

by Saeward Schillaci, The Resource Group

Outcome-Measures-for-Nonprofits

Nonprofits today are operating under growing pressure to be accountable and transparent. In order to secure funding, an organization must demonstrate a high degree of efficiency and sustainability in achieving their mission.

Most nonprofits are happy to oblige, of course, but there are two key issues: first, how can you ensure that your nonprofit’s performance is meeting high enough standards? Second, what parameters best show the state of your organization, and how can those be displayed in a friendly, understandable format?

 

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