Generally Accepted Accounting Principles

Your accounting and development departments are central to the continued financial health of your not-for-profit. So what happens when communication between these two functions break down? It could result in conflict between staffers, inaccurate financial statements and, in a worst-case scenario, the forfeiture of grant funds.

a mug and laptop with a video conference call sitting on a wooden table; image used for blog post about collaboration between development and accounting in a not-for-profit

Here’s how you can encourage collaboration.


Continue Reading Collaboration Between Development and Accounting

A key fiduciary duty of your not-for-profit’s board of directors is to oversee and monitor the organization’s financial health. Some financial red flags and warning signs, such as the loss of a major funder, may jump out immediately.

a red flag waving in the air, image used for a blog post about financial red flags for not-for-profit boards

But other red flags can be more subtle. Here are some of them.


Continue Reading Watch for These Financial Red Flags for Your NFP Board

U.S. Generally Accepted Accounting Principles (GAAP) require not-for-profits to regularly evaluate whether there’s “substantial doubt” about their ability to continue as a going concern. This means that the organization won’t soon liquidate its assets and cease operations.

What does your management team do if it determines substantial doubt?


Continue Reading Do You Have Substantial Doubt About Your Not-for-Profit’s Future?