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The Four Core Statements of Nonprofit Financial Reporting

Blackbaud

Together, these documents reveal where your organization stands financially, how resources are being utilized, and what steps you can take to strengthen operations. This document highlights how your organization generates revenue and allocates expenses, ultimately revealing the change in net assets.

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How Government Grants Are Changing Grant-Making Policies

GrantNews

To illustrate, On January 5, 2023, the bipartisan supported Food Donation Improvement Act (FDIA) was signed into law. Specifically, to improve food insecurity and reduce food waste by expanding liability protection for food donors. We have been held together by a few documents and symbols for the past 200 years.

Policy 107
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4 Nonprofit Financial Statements and How to Create Them

Blackbaud

Let’s take a closer look at each of these documents and how your nonprofit can compile them. This document subtracts total expenses from total revenue to let you know if your organization is bringing in more money than it is spending. Four Main Financial Statements for Nonprofits 1.

Liability 111
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The Legal Process of Tax Exemption and Fundraising

DoJiggy

Donor deductions, encouraging donations by offering tax breaks for contributors. Required documentation: A detailed description of your mission, activities, and financials. One of the most significant benefits of forming an LLC is limited liability, which helps protect personal assets.

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Basics of Nonprofit Accounting: 4 Documents to Know

The Fundraising Coach

If youre just getting started with nonprofit accounting, one of the most straightforward entry points is to learn about some of the key documents involved in this process. Liabilities (account numbers beginning with 2000): Everything your nonprofit owes, including debt, deferred revenue, and accounts payable. should have input on.

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Keep Your Gift Acceptance Policy Strong

Planned Giving

To help you get an idea of the types of gifts potential donors may choose to give, check out this list from the IRS to help you determine fair market value for in-kind donations. This document is written to explain charitable gifts to donors, but it is helpful to enlighten nonprofits on the burden of reporting unusual major gifts legally too.

Policy 93
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How to Create a Volunteer Handbook Your Volunteers Will Use

Get Fully Funded

Let your volunteers know about your organization’s liability coverage, what it covers and what it does not. Also share with volunteers about the Volunteer Protection Act , which protects volunteers from liability in cases of ordinary negligence. Is there a liability release everyone must sign? Is orientation required?

Policy 119