These materials were presented at the Neighborhood Exchange Accounting & Budgeting Workshop on March 10, 2016.
Topics covered included:
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Financial Management & Record Keeping
Clearly defined policies and procedures for managing money are essential for the health of your organization. They allow organizations to establish credibility and minimize the risk of mismanagement and fraud.
Accounting Tools & Concepts
Solid accounting practices help you keep track of the money coming in and money going out of your organization. Benefits of these practices include allowing organizations to make informed financial decisions, satisfy reporting
requirements for funders, and be prepared for financial reviews or audits.
Effective budgets include realistic assumptions about potential funding coming in and expenses that will need to be paid. They allow organizations to plan how they will manage their resources to achieve their program and
Filing & Reporting Requirements
Nonprofits, including incorporated and tax-exempt organizations, are subject to filing requirements at the state and federal level. Understanding these requirements allow organizations to obtain and maintain their nonprofit status.