Is preparing an accounting procedures manual on your to-do list? Deborah Connors of the California Association of Nonprofits, along with Meredeth Clark (also from CAN) and Steve Zimmerman, C.P.A., have made your job a lot easier with this template from the October 16th issue of Blue Avocado.
“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.
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.
From North Carolina CPA Dennis Walsh’s article on Blue Avocado:
More than half of the nonprofits in the United States are estimated to be all-volunteer organizations. Here is a link to a wonderful, succinct guide for the 600,000 + treasurers of such organizations. Treasurers of All-Volunteer Organizations
The Wallace Foundation‘s mission is to foster improvements in learning and enrichment for disadvantaged children and the vitality of the arts for everyone. This link points to an interactive site with in-depth information and guides on budgeting, financial analysis, monitoring, and the role of boards in financial management.
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.
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.
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.