Accounting

Jeanne Tedrow, President & CEO, North Carolina Center for Nonprofits

Managing a nonprofit’s finances is no small or easy task. Nonprofits and those who seek to do good while making a difference in our communities are to be commended for their ability to manage resources and revenue. More often than not, nonprofits make a way when many would say there appears to be no way. To make things happen for the good, they become creative as they leverage financial support with in-kind donations and volunteer labor.

Samples are included for Finance Director/Controller, Staff Accountant, and Bookkeeper or Accounting Assistant.

At Sorren, we look beyond the numbers to what matters most—you. While accurate financials are essential, true success starts with understanding your goals, challenges, and opportunities.

As a top 50 national accounting and advisory firm with local offices in Raleigh, Greensboro, and Wilmington, we combine national expertise with local insight to deliver personalized guidance and a collaborative partnership.

Do your responsibilities include accounting or fundraising (also known as development or fund development) for your nonprofit? Do you supervise the development and accounting work? These are two critical functions and successful collaboration between them is essential to every nonprofit’s success.

A template by the American Society of Association Executives for writing your own Request for Proposal (RFP) for Outsourced Accounting Services.

Translate your annual operating budget into a detailed cash flow projection over the course of a fiscal year with the templates below.​

Cash Flow Template (Propel Nonprofits)

Cash Flow Projection Template (Nonprofit Finance Fund)

If your nonprofit receives in-kind gifts or donated services, you may wonder whether and how to record them in your financial records. From an accounting perspective, consider these key questions.

© North Carolina Center for Nonprofit Organizations, Inc. From Common Ground, a publication of the N.C. Center for Nonprofits, www.ncnonprofits.org.

Read this article to learn exactly what "quid pro quo" donations are and how to correctly report them on your taxes.

© North Carolina Center for Nonprofit Organizations, Inc. From Common Ground, a publication of the North Carolina Center for Nonprofits, www.ncnonprofits.org.

Donors, lawmakers, and other stakeholders are looking at your nonprofit’s "program efficiency ratio" (PER) as an indicator of good stewardship. If your organization has a low ratio, it can indicate that you devote too many resources to fundraising and management rather than program activities. However, the ratio doesn't paint the entire picture. Get tips from CPA Dennis Walsh on how to keep from being judged unfairly.

Since there is no education credential or professional license for bookkeepers, their skillls can range widely. In this article, Mig Murphy Sistrom, CPA, provides a brief quiz that will help you determine if you need a skilled bookkeeper or not.

© North Carolina Center for Nonprofit Organizations, Inc. From Common Ground, a publication of the North Carolina Center for Nonprofits, www.ncnonprofits.org.