It seems like gratitude is the hot new thing. There are gratitude journals prompting us to write down what we’re grateful for on a daily basis, and psychology even says that the expression of gratitude is associated with increased energy, optimism, and em ...
Five Steps to Building Nonprofit Financial Sustainability
You’ve heard the statistic that half of all new businesses fail within the first five years, right? While I haven’t seen the same statistic about nonprofits, I’d venture a guess that it’s a similar number. In fact, the Nonprofit Times released a study in ...
3 Lessons in Storytelling from a CFO
Storytelling. The latest buzzword in the business world. It makes sense in the marketing space, because I’d sure rather hear a story about how a product or service changed someone’s life than have a stranger shout BUY THIS! BUY THIS! BUY THIS! or DON ...
Five Steps to Closing Your Monthly Books
One question I ask when getting to know a new organization is: What does your monthly close process look like? I often get the answer: What's that? .Many organizations I speak with don't have an official monthly close process. They generally make sure all ...
How to avoid the most common audit management letter comments
Grab this amazing guide to help avoid the most common management letter comments! Remember back to elementary school when it was report card day, and you'd go rushing home, excited to show your parents your straight As? Maybe that was just me? I spent ...
How to Create a Nonprofit Budget: The 6 most frequently asked questions
If your fiscal year is the calendar year, October is the start of Q4 and when you should begin crafting your next year's budget. Your budget is the road map to accomplishing your mission, growing your organization, and making a bigger impact, and without ...
Which accounting system is best? Quickbooks Online, Xero, and Freshbooks
Can I be super honest with you right now? It took me a solid six months of running my business to move from tracking revenue and expenses in Excel to Quickbooks Online. I am a CFO, for goodness' sake! So I completely understand when newbie entrepreneur ...
How to Track Temp Restricted Net Assets
Temp restricted...what...what?Today's as good a day as any to tackle unrestricted vs. temporarily restricted income, both the bane and the lifeblood of so many nonprofits' existence.Donor restrictions are often the first thing the auditors look at, and of ...
Three Ways to Be Transparent the RIGHT Way
The concept of "open book management" isn't new, but it seems to be making a comeback recently due to years of corporate scandals and catastrophes. Investors and employees alike want to know who they're supporting or working for and what's going on behind ...
Three Steps to Ensure Your Strategic Plan Stays Alive
Let me clarify: Old school strategic plans are dead. Picture a bunch of old guys in suits sitting in a room, developing a plan for the next five years, which gets printed and put into three ring binders, and promptly filed on dusty bookshelves. THAT is de ...