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

Risk Cover with Insurance for Nonprofit Organization

A nonprofit organization works in a dynamic environment with several risks. Getting an Insurance done for the organization is a option that nonprofit leaders could consider to mitigate some of the avoidable risks. Mentioned below are the commonly… 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

New nonprofits: becoming accountable

Introduction The primary goal of a nonprofit organization is to serve its mission. However in the present day – the job of a nonprofit organization does not end there. Situations are such that, if a nonprofit organization keeps… 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