Managing Money With Mission

Category Archives: Nonprofit Accounting Practices

A Fractional CFO For Your Nonprofit

fractional-CFO

When you hear about “fractional CFOs” you probably aren’t thinking about hiring one for your nonprofit. But, having a part-time Chief Financial Officer / Controller to advise your executive team could be the part that’s missing to help your nonprofit grow. Fractional CFOs are starting to become more common place, not just for large companies or start-ups, but for nonprofits to ensure fundraising efforts as well as accounting practices are strategic and stable. Here are a few reasons you might want to consider bringing a fractional CFO into your nonprofit. Continue Reading

Outsourcing Your Accounting Services

Nonprofit organizations, and accountants, understand the need to count every penny. Staying on track with your strategic plan and achieving your goals is based largely on how your organization manages its money. Is your accountant on staff as knowledgeable as you have come to expect? Do they have the benefit of industry perspective and continually… Continue Reading

Your Nonprofit and Reserve Funds

Since it is perfectly acceptable for a nonprofit to make a profit throughout the course of a year, the question often asked is, “how much should be left in reserves?” The answer is tricky. Having excess reserves can limit your donors’ willingness to give and having too little could cause your nonprofit to struggle operationally… Continue Reading