Accounting and Bookkeeping for U.S Nonprofit Organizations

Nonprofit organizations have similar financial transactions, accounting and bookkeeping needs as any for-profit organization. Like any other organization, a nonprofit is evaluated by a wide assortment of entities like donors, investors, bankers, creditors, public watchdogs and government to… Read More

Does my NPO need an audit ?

Audit & Fund raising – 25 states require compulsory submission of audited statements, if a nonprofit organization (domestic or foreign) solicits funds in that state. Another 13 states require registration for fund raising but do not require submission… Read More

Audit Requirements for Nonprofits

The federal Government prescribes that nonprofit organizations spending $500,000 or more in federal contract dollars in any given fiscal year must obtain ‘single audit’ report to ensure that it complies with federal grants management procedures. (For more details… Read More

Budget making for nonprofit organization

The budget of a nonprofit organization shows its projected expenses and revenues for a given time period. Thus it is essentially recording of the organization’s plans in quantifiable money terms. The organization’s budget should be drafted as an… Read More

Sample Cash flow statement for nonprofits

While the cash flow worksheet gives a month wise break up of cash surplus or cash deficit, the organization still needs to know its annual cash flow position. This is where a cash flow statement (also called the… Read More