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Demystifying the Major Nonprofit Accounting Methods

Pamela Grow

Keeping thorough, accurate records of your organization’s finances allows you to know how much funding you have on hand and effectively allocate it to further your mission. To keep your financial data organized, you can use either of two primary tracking methods: cash accounting and accrual accounting.

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Five myths and misconceptions about Candid’s grant data

Candid

In service of this, in this blog, we’re highlighting five things we’ve heard about our grants data that aren’t quite accurate. Myth 1: “Candid grants data” is the same as “990 data.” tax exempt nonprofit organizations must file various Forms 990 with the Internal Revenue Service (IRS) each year. Years ago, this was true.

Grant 111
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The Ultimate Guide to Accounting Software for Nonprofits

Nonprofit Tech for Good

Instead of generating a profit that can be disbursed to shareholders or reinvested in the business, nonprofits funnel their revenue into things like research funding, program expenses, outreach, and work that directly impacts their mission. Others receive grant funding from governmental agencies, private foundations, and community funds.

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Funding Faith: Raising Money For Religion-Based Organizations

Bloomerang

However, raising funds for these organizations can present unique challenges. While it is true that the Anglican Diocese of Niagara is fortunate enough to be able to provide some funding support for various programs and ministries, they do not have ‘pools of money’ and operate on a shoe-string budget as many other groups do,” she said.

Fund 119
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Post-Pandemic: Rebuilding Your Volunteer and Financial Base

Bloomerang

But as the Coronavirus appears on the backfoot, it’s a good moment to take stock of the damage it’s done and consider the financial opportunities of volunteer re-engagement and new funding currently available. Formal volunteer retraining: Having a system created to help guide the volunteer into the ways and methods of your nonprofit.

Volunteer 136
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How Can Nonprofits Make the Most of Overhead Funds?

ASU Lodestar Center

Many funders, including individual donors, are averse to funding these indirect costs, preferring to support direct program expenses: food for hungry people, medical care for the sick, and childcare for working parents. A study cited by Nobel (2015) showed that individual donors are averse to funding organizations with high overhead rates.

Fund 70
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Participatory Grantmaking: I’m in! Now what?

sgEngage

You’ve read about participatory grantmaking—and maybe even heard about other organizations using this model to distribute control of their funding strategy and grants decisions to the communities they serve. Your leadership may set some parameters or fixed criteria around grantmaking goals, grant use, or eligibility.