Nonprofit Reporting Resources
MIP Fund Accounting has various resources for nonprofits to effectively report on their finances, grants, and programs. With the right processes in place, quarterly, board, and annual reports can be done quickly and easily. Use these resources to implement or improve reporting practices at your organization.
We went through tough times. The pandemic was rough on nonprofits, however there will always be unexpected things that arise—pandemic or otherwise. Nonprofits that proactively anticipated change with proper financial planning better weather uncertain times and unexpected fiscal disruptions. Forward-facing challenges that affect budgets, capacity, cash flow, and planning exist, and communicating those challenges to…
Curiouser and curiouser? When you’re managing your organization’s finances, you need to journey down the rabbit hole of ‘what-ifs’ and be prepared for every scenario. Planning for the possibilities prepares your organization for the unexpected, and if the hypothetical becomes a reality, you’ll already know what to do.
Maintaining a Current Fixed Asset Listing Increase Cash Flow and Maximize Tax Depreciation Deductions Uncover Tax Benefits Why Fixed Asset Software Is Useful Fixed assets are your nonprofit organization’s tangible assets. These are typically purchased to generate income or to be used long term in your operations. Fixed assets typically comprise a significant part of…
You’ve set your New Year’s resolutions, but what about setting resolutions for your organization’s budget? Use these four tips to ensure your nonprofit is doing everything it can around budget development.
Nonprofit budget planning is often an art and a science. Applying thoughtful, resourceful, and creative methods is critical when it comes to managing financials, accounting for unexpected changes, and getting buy-in from your board, leadership, and key stakeholders. What are the best practices for being smart and forward-thinking in nonprofit budget planning? We’ve got you…
The Budget module in MIP Fund Accounting brings incomparable functionality relating to comparing budget to actual, both on an organization-wide basis, and on either a grant, a program, or a departmental basis. It also provides powerful internal controls to reduce and prevent fraud. We’ll explore this tool in-depth on this webinar.
Your nonprofit may be looking for ways to achieve a better return on investment, especially when it comes to optimizing the operations of your finance and accounting teams. Does it make sense to invest in a new accounting platform? To bring in more dollars and spend less, there are several things to consider: Does your…Read More
Assets Revenue Tuition Donations Endowments How Private School Accounting Software Can Help As nonprofits, private schools have a variety of responsibilities when it comes to financial reporting. Those responsibilities can make private schools’ accounting more complex than it is for other nonprofits. The challenges of accounting for private schools stem from elements that resemble the…Read More
Preparing for an audit is a year-round task and requires your nonprofit’s full attention. While you may not be required by law to conduct an audit, the process has several undeniable benefits. Audits can: Show you’re a good financial steward of the funds your donors and grantmaking organizations provide Reassure your supporters that your nonprofit…
t’s never too early to prepare for an audit. We share our tips for making your next audit more efficient and aligning your nonprofit’s financial practices with its mission.
Audits may not be a nonprofit’s favorite thing, but they are a common and sometimes necessary way to examine financial statements, analyze business operations, and review internal processes. How can you ensure your nonprofit will be successful the next time you’re facing an audit? We’ve partnered with a panel of accounting experts, including Michael Gellman,…
Understand auditor red flags and indicators of a bumpy audit to ensure a smooth process and outcome for your nonprofit organization.