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How to Improve Your Internal Controls to Minimize Audit Findings

Blackbaud

Here are a few reasons why internal controls are especially important for nonprofit organizations: Safeguarding Assets: Nonprofits often have limited resources and rely heavily on donations and grants. Examples include backup procedures, disciplinary action, and insurance.

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Supporting nonprofit and mission-driven affordable housing providers 

Candid

This lowers property revenue, even as material, labor, and insurance costs risea combination thats making building and operating affordable housing extremely difficult, or even infeasible. How did we get here? Current estimates are that nearly five million households are behind on rent, adding up to a total rent debt of $9 billion.

Finance 66
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What Are 7 Common Nonprofit Startup Costs?

GrantNews

” (fundraisingIP.com 2023) Once you’ve completed your state filing, you must then submit IRS ‘Form 1023’ to be granted tax-exempt status. Nonprofit Insurance Many nonprofits purchase nonprofit insurance when starting their organization. The cost usually runs from $200-$300 a month. Happy searching!

Insurance 117
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GAAP for Nonprofits: How to Reconcile GAAP and Non-GAAP Results

Blackbaud

So, while bequests, insurance policies and planned gifts are exciting for the organization, those donations won’t be reflected in the GAAP reporting. Kudos to your development team for getting the payout from an insurance policy of a 45-year-old.

Insurance 104
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Should You Have A Grant Writers Kit?

Red Tape Busters

The idea of having a Grant Writers Kit may sound pointless when every grant has different requirements and the funding objective for an organisation will vary with each grant. However, for Grant Writers, there are many parts to grant writing that are repetitive no matter what the grant is.

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Philanthropy Officers and Grant Professionals

Grant Professionals Association

What you do next is entirely dependent on the policies and procedures that your organization has put in place for your development team. Across the nonprofit sector, there are countless variations in the relationship between organizational grant professionals and philanthropy departments. Is this a grant? Yes, or no?

Grants 59
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4 Nonprofit Financial Management Challenges (& Solutions)

Get Fully Funded

However, you can strategically cut other administrative costs by: Evaluating your organizations insurance plan to ensure youre getting the right amount of coverage for the best price. Track grant progress, either within the software or through an integration with a dedicated grant management system.