by MIP Team | Jul 27, 2021 | Nonprofit Accounting
It’s never too early to prepare for an audit. Here are our tips for making your next audit painless and aligning your nonprofit’s financial practices with its mission. Selecting the Right Auditor Work with your board, especially the finance or audit committee,...
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by MIP Team | Jun 29, 2021 | Security & Compliance
When it comes to preventing fraud, all nonprofits can benefit by ensuring they have a strong and continuous fraud protection plan in place. By doing this, you are ensuring that employees, board members and donors know that your nonprofit is working to continue to be...
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by MIP Team | Apr 7, 2021 | Nonprofit Accounting
“Audits” is a scary word for many nonprofits, and your team may understandably dread them, but preparation can go a long way to a successful audit. So where do you start? Whether you’re new to audits or perform two a year, it’s always a good idea to brush up on...
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by MIP Team | Mar 19, 2021 | Nonprofit Accounting
If you’re involved with a nonprofit organization, you know how you use your limited resources matters. Your team continually works to improve the programs that enable you to collaborate with the community, attract new donors and secure consistent funding from...
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by MIP Team | Mar 16, 2021 | Funding
In our 2021 Nonprofits Financial Health Research Study we learned that many of you are managing multiple grant funders and monthly reporting to those grant funders. To that end we hope this grant management information will be of benefit to you in how you tackle the...
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by MIP Team | Nov 9, 2020 | Nonprofit Accounting
Accounting tools for a nonprofit treasurer must fit their organization’s needs. Proper accounting tools can streamline a treasurer’s duty. With the right resources, their work will be more efficient, precise and strategic. Traditional resources include...
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by MIP Team | Nov 9, 2020 | Nonprofit Accounting
The primary difference between nonprofit organizations and for-profit businesses is the way they acquire money. In a for-profit scenario, a company earns income by selling a product or service. Nonprofit organizations, however, make money through fundraising, donors...
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by MIP Team | Aug 1, 2020 | Technology
Because accounting is different for churches, your religious organization’s accounting software handles different tasks than that of a program aimed at businesses. MIP offers software designed to perform fund accounting for religious organizations. This guide...
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by MIP Team | Nov 25, 2019 | Nonprofit Management
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. Enabling the board with timely and accurate information not only allows them to...
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by MIP Team | Oct 1, 2019 | Nonprofit Accounting
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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by MIP Team | Oct 1, 2019 | Nonprofit Accounting
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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by MIP Team | Oct 1, 2019 | Security & Compliance
What Is Check Tampering? Check tampering is a type of fraud that occurs when an employee steals an organization’s funds by intercepting, forging or altering a check drawn on one of the organization’s bank accounts. The following bullet points would be considered check...
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