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Your Unrestricted Funds Need Stewardship, Too

sgEngage

All in unrestricted funds with no reporting necessary. While nonprofits will hopefully see an increase in unrestricted funds—and a decrease in burdensome reporting requirements—as part of this and other movements, good nonprofit accounting principles still apply. What Are Restricted Funds? What are Unrestricted Funds?

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Why Fund Accounting Software Beats Spreadsheets for Nonprofit Grant Reporting and Compliance

sgEngage

To meet those requirements, you’ll need to be able to successfully track and manage your grants and effectively report on how you allocated these funds. If you are a grant-funded organization, it will be important to manage spending restrictions and meet reporting requirements. Tracking: Cut Out the Spreadsheets!

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How a Project Charter Can Help You Have a Successful Fund Accounting Software Implementation

sgEngage

Any major project—such as implementing new fund accounting software—needs a well-developed charter to keep stakeholders focused on the goals and desired outcome. Give your project an easily identifiable name, such as Fund Accounting Software Implementation. Leave space in your list to track when each deliverable was completed.

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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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Raise More, Worry Less: How to Safeguard Your Nonprofit’s Funds

Bloomerang

As a nonprofit, you work tirelessly to raise funds, and it’s important to ensure that every dollar raised goes towards your mission. We’ll discuss the potential risks associated with donation processing and provide proactive measures you can take to safeguard your nonprofit’s funds.

Fund 79
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How to Minimize Risk Throughout Your Grant Cycle

sgEngage

Here are some of the internal controls your grantees should have: Formal Written Policies and Procedures You want to make sure your grantees have documented and defined ways of managing and tracking the funds they receive. How do you track time and effort? Regularly review and update your policy to ensure its effectiveness.

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7 Ways Your Nonprofit Can Build a Strong Financial Foundation in 2024

sgEngage

Create an Operating Reserve Fund (or Review Your Policy) An operating reserve is a crucial part of creating a strong financial foundation for your organization. Like an emergency fund for your organization, an operating reserve allows you time to make data-driven decisions instead of having to react immediately.