Categoria: Bookkeeping

That’s why Relay (that’s us! 👋) helps nonprofits organize cash across multiple checking accounts. Our online business banking and money management platform allows nonprofits to open 20 individual checking accounts for program budgets, operating expenses, and beyond. A budget acts as a guide that can help plan an organization’s future. Streetsmart Financial Basics for Nonprofit… Continua a leggere True Program Costs: Program Budget and Allocation Template and Resource

Overall, the Statement of Cash Flows is a valuable tool for understanding the cash flow position of a nonprofit organization and assessing its financial health. This section highlights the sources of revenue and support, as well as the expenses incurred by the organization. It gives insight into the organization’s financial performance and whether it is… Continua a leggere A Complete Guide to Demystifying Nonprofit Financial Statements

This is initiated by recognizing financial responsibilities such as bills, salaries, loans, taxes, and other obligations. Authorization for fund disbursement typically requires Certified Public Accountant managerial approval, adherence to financial procedures, and compliance with legal and contractual obligations. Disbursement direct deposit is a specific form of payment available to clients at a wide range of… Continua a leggere Accounts Payable

The nominal interest rate on debt is a historical figure, whereas the yield can be calculated on a current basis. The total interest you’d pay your friend for that loan would be $100, all of which you can deduct on your taxes, which means your total taxable income goes down by $100. Because your tax… Continua a leggere How to Calculate and Interpret the Cost of Debt

The IRS evaluation process serves as a vetting mechanism, signaling a level of accountability and transparency. Once an organization obtains 501(c)(3) status, donors, volunteers, and partners feel more confident contributing to a cause they know has met strict federal requirements. This elevated trust can be a game-changer when it comes to building long-term sustainability and… Continua a leggere What Are the Different Types of 501c3 Organizations?