Running a nonprofit organization comes with the responsibility of maintaining compliance with IRS rules and regulations. Read more for practical tips on how to prepare for an IRS compliance audit.
While audits are valuable, they are not always necessary—or even the best use of limited resources. Before committing to one, it is worth asking: does your organization truly need an audit? Learn more.
Revenue recognition refers to the procedures used to record and report funding received and depends on the type of pledge. Learn more about the different types of pledges and how to record them.
Proper audit preparation can help reduce stress, keep the audit on schedule, and ensure a smooth process. Read more to learn how your organization should prepare for an audit.
Nonprofit policies are not just documents—they are tools that help staff and board members do their work with confidence, stay within the law, and avoid confusion or mistakes. Learn more.
A nonprofit record retention policy helps organizations manage documents efficiently while ensuring compliance with legal and regulatory requirements. Learn more by reading the full article.
Financial statements and the Form 990 are both important documents providing insights into an organization's finances, but they serve different purposes and adhere to different reporting standards. Learn more.
There are some important due dates that may be applicable to nonprofit organizations with a year-end of June 30, 2025. Learn more by reading the full article.
Nonprofit organizations frequently receive in-kind donations. Receiving in-kind donations raises an important financial question: How should nonprofits record these contributions in accordance with GAAP? Find out more.
Assets with donor restrictions are donor designated monies for a particular purpose. These funds are restricted for the purpose elected and cannot be used for other expenses of the nonprofit. Learn more.
