The MIP Blog
Accounting and finance stories and trends for the nonprofit professional.
6 Next Steps for Nonprofits to Take in Seeking Emergency COVID-19 Grant Funding
Large and mid-size grantmaking foundations are providing vital relief funds to nonprofits and fellow organizations focused on local and state-driven recovery efforts in response to COVID-19. Emergency relief funding and coronavirus-related grant funding is growing,...
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COVID-19 Response and Relief Funds: Finding a Grant for Your Nonprofit
Reduced revenues, redirected funds, and emergency funding are part of the new normal for many nonprofits and organizations across the country. From government supported payroll protection to exhaustive efforts working to gain donations and relief funds, here's what to...
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Juneteenth 2020
Black Lives Matter is more than a global movement. It's deeply personal, fraught with potential missteps and easy to get wrong. At Community Brands, we realize it's too important not to try. We proudly affirm that Black Lives Matter and do commemorate the anniversary...
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Covid-19 and Your Nonprofit Budget: Best Practices During Uncertain Times
You organization’s budget serves as a guiding star for your nonprofit, functioning as a vital management tool and detailed map for where the organization is headed year over year. While budget monitoring and continuous review are always best practices, as Covid-19 generates increased instability, the importance of revisiting your organization’s budget now cannot be overstated.
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The Access Controls Your Nonprofit Needs Now
While internal controls should be implemented throughout your organization, controlling user access within your accounting system is vital to safeguard financial data and ensure accurate management, tracking, and reporting of your nonprofit’s finances.
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3 Key Internal Control Activities
Marriam-Webster defines internal control as, "a system or plan of accounting and financial organization within a business comprising of the methods and measures necessary for safeguarding its assets, checking the accuracy of its accounting data or otherwise...
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Roses are Red, Violets are Blue, What’s Fund Accounting Mean to You?
There is no denying that as your organization grows and your programs advance, so do your needs. It is not uncommon for many nonprofits to use off-the-shelf accounting products at first, but research specifically underscores the importance of having the right technology in place as you scale.
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Communicating Finances to Your Nonprofit Board
There is no doubt that communicating essential financial information while maintaining a positive relationship with your nonprofit board is critical to the success of your organization. However, it’s not without its challenges. Over time, we’ve learned the best approach centers on three key areas.
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Navigating Budget Season – Guide Your Nonprofit with a Better Built Budget
We’re coming up on budget planning and preparation season! The budget for your nonprofit is always on your mind, right? Budgeting can seem tricky and stressful, mainly because the National Council for Nonprofits describes the annual budget as “one of the fundamental...
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Effectively manage your nonprofit’s grants
Grants are essential sources of revenue for most nonprofits. They’re critical for your mission but carry with them a high burden of monitoring and accountability. If you’re wondering how to manage grants for your nonprofit, remember that proper allocation, tracking,...
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Best Practices Around Budget Automation
We’re at the half-year review mark of the budget lifecycle. Have you observed anything over the last six months that should be automated? Do you believe budget best practices are being incorporated, or have you identified ways to improve the budget process? Let’s...
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Check tampering: Is your nonprofit at risk?
Mountain State Justice: A True Story What would happen to your mission if you lost $1 million from your budget? That’s precisely what happened to Mountain State Justice, a nonprofit organization that provides legal advocacy to low-income people in West Virginia. In...
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Nonprofit fraud facts from the 2016 global fraud study
I once worked at a big-box store during the Christmas season. My biggest surprise was how many people steal and how clever they can be with their deception. Fraud for nonprofits is even more devastating. Negative publicity and possible loss of funding are consequences...
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