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How to Develop Your Nonprofit Operating Reserves

Blackbaud

The real takeaway here is to be able to articulate why the operating reserve fund exists for your organization and clearly understand the purpose, rather than getting hung up on the aggregate number. The more dependable and regular your funding is, the less risk you have and the lower your reserves can be.

Contract 104
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3 Signs Your Organization Needs a Nonprofit Accounting System

Blackbaud

Those low-cost tools can be a great way to launch and gain momentum, but there comes a point for every nonprofit when the time it takes to manage your fund accounting workarounds outweighs the cost of upgrading your system. It may be time to look for a fund accounting system with subfund capabilities when you notice these three signs.

Finance 105
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9 Tips to Increase Your Chances of Winning a Grant

GrantNews

On average, sources estimate that 1 in 7 applications are approved for funding. 9 Tips to Increase Your Chances of Winning a Grant 1) Target Your Funders There are many different types of funding sources, but which funding source is best for you? What are your chances of winning a grant? GrantWatch is here to help!

Grant 115
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Understanding the Grant Lifecycle: Info for Nonprofits

Blackbaud

Many nonprofits rely heavily on grants to fund their missions, but successfully securing and managing grants requires a clear understanding of the grant lifecycle. The grant lifecycle refers to the full process a grant goes through from identifying opportunities and applying to implementing funded projects and reporting outcomes.

Grant 72
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What Every Nonprofit Needs to Know About Financial Audits

Blackbaud

Your organization receives more than $750,000 in federal funding per year. Your total annual funding exceeds your states legal threshold for conducting an audit (usually $500,000). This is also a good time to hammer out the details of your contract for working together before you finalize it and make it binding. Issue an RFP.

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Grant Distribution Best Practices: 5 Tips for Funders

Blackbaud

But its difficult to drive impact when your grantees cant access their funds, arent sure when the funds are arriving, and dont have a clear understanding of their requirements for using the funds. Start by making it simple for grantees to track the status of fund transfers.

Grant 59
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Why Your Fund Accounting System Needs a Strong Partner Network

Blackbaud

There was a time when you had to find one single solution that hopefully met the majority of your needs and priorities, which often meant you were stuck in a binding contract for years. It is just as important for partners to be good stewards of user data and comply with the same standards as your fund accounting software.

Funding 105