In our last post, Understanding Functional Expenses – Part 1 of 4, we covered the definition of cost vs. expense. We then dove into the nitty gritty of what expenses are considered to be fundraising. The post just prior to this series, Demystifying Nonprofit Overhead, made the case for why you should care about overhead and…
Read MoreIn our last post, Demystifying Nonprofit Overhead, we began to tackle the concept of “overhead” and why it’s sooooo important for you to understand it. Overhead refers to expenses that are NOT program expenses. You may find it helpful to read that post if you haven’t already. To quickly review, Form 990, the annual information…
Read MoreWe often receive the question, “How do I record volunteer services?” From our last post, Why Record Volunteer Services?, you know some volunteer services must be recorded as defined in Generally Accepted Accounting Principles (GAAP). Other volunteer services, while valuable to the organization, do not meet GAAP criteria for recording. However, you still may wish…
Read MoreOften we find nonprofits do not record the value of volunteer services. After all, volunteer services, also referred to as in-kind services, don’t have a direct impact on cash. And there is so much other work to do; it seems like a waste of time. Why would you want to record volunteer services anyway? 1.…
Read MoreSix Levels of Expertise Over the years we have seen a wide variety of wonderful partnerships between volunteers and nonprofits – and a few not so wonderful. Volunteer bookkeepers seem to be a problematic area. Maybe that’s because we also see a lot of problems with paid bookkeepers. It could also be because some nonprofit…
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