PABS
You receive donations or grants designated for a specific purpose that you have to spend within a calendar year. For instance, if you receive a donation explicitly for cancer-suffering children, you can’t use that fund for HIV or any other life-threatening diseases. As you are not free to use funds however you please, it is […]
Accounting takes center stage in the nonprofit world, where donations and grants are the lifeblood of operations and program funding. Here, accounting functions as the North Star, guiding organizations through the complex terrain of financial management. In a quick Google search of “What should I expect from nonprofit accounting,” numerous tasks emerge in the results. […]
Unwavering commitment and a clear sense of purpose serve as the driving catalysts for every mission. Nonprofits, such as yours, spearhead countless humanitarian efforts, environmental initiatives, and community-building endeavors. With dedication, you allocate resources, talents, and time to tackle pressing challenges and attain substantial objectives. Yet, behind your inspiring nonprofit journey of bringing impactful change […]
According to the Nonprofit Trend Report published by Salesforce.org, 71% of nonprofits exceeded their program goals through strategic financial transformation. At your core, you always strive to create a positive impact. Yet, in the quest for noble endeavors, there’s often an overlooked truth: the lack of financial visibility and controls. This is where the urgency […]
There are over 1.5 million nonprofit organizations operating in the USA – National Center for Charitable Statistics. In my accounting tenure, I’ve witnessed the struggles nonprofits face when financial hiccups disrupt their vital operations and programs. The misallocation, poor reporting, and mismanagement of funds deprive them of the resources they desperately need. The common ground […]
