Managing Money With Mission

Cash Needs for Your Nonprofit

There’s an interesting belief held by many nonprofit stakeholders that having the 501(c)(3) designation means the organization cannot have a “profit” at the end of the year. Running your nonprofit like this could lead to drastic money issues down the road. When it comes to cash needs for your nonprofit, it is important to remember… Continue Reading

Does Your Nonprofit Need an Annual Independent Audit?

The IRS does not require nonprofits to file annual independent audits, but many states do including Wisconsin. In Wisconsin, any charitable organization with contributions surpassing $500,000 must file audited financial statements prepared by a certified public accountant. For any charitable organization receiving less than $500,000 and more than $200,000, a CPA needs to perform a… Continue Reading