Capacity Building Financial

Internal Controls

“Controls” is what accountants and others call policies and procedures that are designed to prevent fraud and assure accurate reporting on the affairs–mostly the financial affairs–of organizations. Here are some excellent articles outlining what you need to know.

“Controls” for Small Nonprofit Organizations – A Guide for Board Members

Five Internal Controls for the Very Small Nonprofit

Protecting Assets with Sound Internal Controls

Internal Controls for Small Organizations

Nonprofit Fiscal Policies and Procedures: A Template and Guide

Writing or updating an organization’s fiscal policies and procedures is usually not on the top of most people’s list of favorite things to do. Luckily, CompassPoint has developed a well-organized, time-saving template and accompanying guide to make it a bit easier. No “one size fits all” manual exists that will work for all organizations, but our template and guide offer a recommended structure and questions to consider so you can decide what is best for your organization.

We believe that the most important part of developing policies and procedures is that they are discussed, agreed upon, and regularly reviewed by both the decision makers in an organization and by those who will be implementing them on a day-to-day basis.

Guide for Nonprofit Fiscal Policies & Procedures

Finding Your Funding Model

Nonprofit leaders spend an enormous amount of time on fundraising, but many typically have little idea how to secure the money they will need over the next five years. At the same time, their vision for how the organization’s programs will evolve over the next five years is often sharp and clear. The rub is that a well-thought-out approach to raising revenue is essential to sustaining those programs and increasing their impact.

Is Your Form 990 Due?

Whether you are e-filing or mailing a form, National Center for Charitable Statistics Form 990 Online can help make the process smooth.

Their web site guides you through the schedules and statements; checks the arithmetic; and provides context-specific help to make navigating the Form 990 easy. Your forms can be saved or printed as PDF files, and entries from previous tax filings can be imported into your current tax filing.  FREE for organizations with less than $100,000 in gross receipts.

Tracking Volunteer Time to Boost Your Bottom Line

From Dennis Walsh’s article on Blue Avocado:

Tracking volunteer time: sounds like another chore? Actually it can help you meet match requirements, improve your financial statement presentations, and reduce liability.

In this article from Blue Avocado, CPA Dennis Walsh of North Carolina explains why and how to include volunteer time in your budgets and financials.

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