Do’s and Don’ts of Ethical Fundraising for Nonprofits

All of us develop bad habits over time without thinking about it. Whether it’s chewing on your pen, playing with your hair, or saying the word, “like,” like two-hundred times a day–we all do it. As the saying goes, “Old habits die hard.” While that may be true, when it comes to nonprofits, bad habits in fundraising can have disastrous impacts.

Since nonprofits are reliant on fundraising, it’s easy to lose sight of which fundraising tactics are ethical and which ones aren’t. The point of ethical fundraising is to pay respect to your donors, build trust among the general public, and promote transparency; which leads to better retention rates among donors and, hopefully, a higher revenue stream.

To maintain an ethical approach to your fundraising, you need to follow certain guidelines. Here are a few do’s and don’ts of fundraising to ensure you maintain trust with your donors.

Why It’s Time Nonprofits Started Working Remotely

The workplace doesn’t look like it once did. Instead of suits and dresses, or even casual slacks and button-down shirts, it’s now pajamas and sweatpants. Yes, the world is transitioning out of the office and into the home. Some people view this negatively while others are warmly embracing it. One thing everyone can agree upon is not dealing with traffic is a huge bonus.

While working from home was once seen as unconventional, businesses have been coming around to it and the results have been positive. Since nonprofits are on the frontline of cost cutting and working from small budgets, you might want to start contemplating whether you should switch as well. Here are some of the best reasons why working remotely is better for your organization!

What Every Board Member Needs to Know About Nonprofit Accounting

Justifying the price tag on nonprofit accounting software probably isn’t easy for you as a board member. Because financial resources are often tight, your focus might be to spend money on advancing your organization’s mission and not on its accounting needs. Besides, accounting software is often free, so why spend money you don’t have to, right?

While the price might be difficult to overlook, a good accounting software can arm your organization head to toe with better security, reporting, and fund management. Without it, you’re leaving your financials susceptible to error and errors aren’t easily overlooked by those funding your nonprofit.

As a board member, you have an important role guiding your organization, but you might not be aware of the unique problems nonprofits face when it comes to accounting. Setting your nonprofit up for success begins with properly maintaining the finances, so here are a few reasons why nonprofit accounting software is so important.

Accounting, Board of Directors, Grant Management, Reporting, Security

7 Reasons Why Nonprofits Are Switching to Denali Fund

The last 10 years has seen a rise in nonprofits by almost 20% while the for-profit sector has increased only 3%. Unfortunately, the increase in nonprofits hasn’t translated into more companies building accounting software specifically for nonprofit accounting practices. Denali Fund, however, is designed just for that purpose. So let’s breakdown why nonprofits find Denali Fund to be the software they’ve been searching for!

Audit Trail, Reporting, Security, True Fund Accounting

7 Tips for Scaling Back Your Nonprofit’s Expenses

No matter the size of your nonprofit, every organization experiences a low point in either their revenue or funding sometime throughout the year.

In order to stay afloat, you need to find some options for scaling back your expenses.

This list is designed to give you some of the best tips and tricks that your nonprofit can use to cut down on your overhead costs and better prepare for your future.

Campaigns, Expenses, Saving, Waste Management

3 ESSENTIAL FEATURES THAT DEFINE TRUE FUND ACCOUNTING SOFTWARE

Running your nonprofit on a typical accounting software, like QuickBooks®, isn’t going to cut it nowadays if you want to be successful.

If you want your nonprofit to thrive, it’s important to have software that is designed specifically for handling the complexities of your nonprofit organization.

With hundreds of software packages available on the market, knowing the right one to choose from can be confusing. So, we created a list of three features that your nonprofit NEEDS to have in your True Fund Accounting software. These three features include a secure audit trail, individual user rights, and fund management.

Audit Trail, Fraud Prevention, Fund Management, Security, True Fund Accounting

A Quick Guide to Building Your Nonprofit Budget

As a nonprofit, one of the hardest obstacles you will face is not receiving enough funding to do the things you want to do. But, if you have a solid budget that you stick to, you can get through the low points until funding picks up again.

Unlike a business, you aren’t trying to increase profit margins or meet sales goals. Your bottom line isn’t about making money. It’s about calculating the costs it will take for your organization to achieve its goals.

That’s why practicing good budgeting techniques is crucial to accomplishing your mission with any level of funding.

With this article, we’ll address why you need a budget, what the benefits are, how you should build your plan, and decide on which type of budget works for your nonprofit.

Budget, Financial Planning

How your nonprofit can find a rockstar accountant

As we gear up for one of the most stressful times of the year for personal and business finance, one of the last things we want to worry about is whether the accounting professional that we’ve put our nonprofit’s faith into will be able to deliver on their promises.

Especially for smaller organizations who may be looking for an external partner to ensure compliance with IRS regulations as well as properly stewarding their donors in a new environment around charitable deductions, finding the right nonprofit accounting specialist is vital to long term growth.

Where can your organization start their search for an accounting professional who can help chart the path to growing your mission’s capacity? Let’s unpack a few strategies to help guide your organization through this common issue.

Accountant, Accounting, Donations, Nonprofit, Nonprofit Accounting

Establishing Your Chart of Accounts

Setting up your chart of accounts from scratch can seem daunting. There’s a lot of planning and organization involved and figuring out the best way to set things up can feel overwhelming.

The good news is that constructing a chart of accounts isn’t all that difficult. However, the most crucial step is the initial setup because if set up correctly, your chart of accounts can be extremely effective.

So, to set up your chart of accounts the right way, we’ll dive into what a chart of accounts is, why your organization needs one, and how you can set one up that will be sure to benefit your business or nonprofit.

Assets, Chart of Accounts, Equity, Finances, Financial Planning