We decided to analyze our client’s financial performance for the last two years. (There's no denying it -- we are a bit nerdy!) Not surprisingly, we found that most small businesses had a difficult 2020 year. We noticed a few things when reviewing the data, such as:
Accountants love it when they get a clean set of books. The ultimate prize is when the Net Assets with Donor Restrictions account is up to date. A critical step in getting there is a good grant balance tracking system maintained throughout the year. Here are three ways we track restricted grant balances using QuickBooks Online:
The Pandemic has brought to light the importance of financial management at nonprofit organizations. Many organizations are overwhelmed with demand and short on resources. A crisis always highlights weaknesses, but it can also identify opportunities. As a board member, what financial information do you need to guide the organization though the ever-changing community the nonprofit serves?
Are you struggling to complete a strategic plan, get a fundraising campaign off the ground, or expand your reach? Despite having a great team, your nonprofit may need the expertise of an outside Advisor. This is not a poor reflection on your organization; instead it’s a testament to the time constraints and experience involved in these types of projects. Advisors we heartily recommend are:
Let me introduce, Dr. Anna Van Heeckeren. Dr. Anna is the President and CEO of One Health Organization. She is also a veterinarian who saw the need for affordable care for pets whose owners are unable to take them to the vet. One Health keeps pets and people healthy at home! With more people sheltering at home, One Health’s service is essential.
As an outdoor enthusiast, this Client Spotlight is near and dear to my heart. I am delighted to introduce to you Mera Cardenas of Canalway Partners. If you’ve ever had the pleasure of biking or walking the Towpath Trail that weaves throughout Cleveland, you can thank Canalway Partners as they are the chief fundraiser for the Towpath Trail in Cleveland and Cuyahoga County. They take the lead in strategic decision making, grant writing, and community outreach. Canalway Partners also hosts many events throughout the year that encourage people to spend time outdoors exploring our great city. The board and staff of Canalway Partners recently celebrated the opening of a new section of the Towpath Trail in the Tremont neighborhood. (See photo below.)
We work with many nonprofits and understand the hurdles they face trying to grow their organization while effectively managing finances, including financial planning and reporting. Here are just two examples of how BudgetEase has helped nonprofits through its bookkeeping expertise.
What is a donor restriction and why is it different from a board restriction? In this quick video, Cindy Gill explains the difference:
Commercial Activity Tax (CAT) is a tax imposed for the privilege of doing business in Ohio. CAT is calculated on taxable gross receipts from most business activities in Ohio, or activities that benefit an Ohio-based business.
What do you need in an Expense Report? To save you and your bookkeeper time, incorporate the following seven features into your Expense Report.
