Financial and Organizational Resources for Nonprofits
Working for a nonprofit has its own specific challenges. Karen Kennelly put together these resources to clear up misconceptions and eliminate confusion.
Karen dispels the top ten myths about nonprofits–such as “no one makes any money” and “there’s no upward mobility”–as well as providing statistics and taking on common questions about what it means to work for a nonprofit in this presentation.
This review goes over many of the more common questions that executive directors and leadership teams have about nonprofit operational and financial issues. Among other things, it outlines fiduciary and legal responsibilities, includes examples of financial statements, gives you information about preparation of forms and schedules, and tells you to whom you need to report what information.
If you’re interested in learning more about board members’ responsibilities, you can download that presentation here, or, for a matrix that lays out the difference between a 501(c)(3) organization and a 509(a), go 501c3 vs 509a.
If you’re in the process of selecting or evaluating your auditor, you can use the questions and matrix in this presentation, which also gives you information about how to best interact and communicate with your auditor. Additionally, an audit committee toolkit is included.
If you just need clarity about the differences between an audit, a review, and a compilation, you can find that here.
Think beyond the money when it comes to creating grant proposals. This presentation provides advice around self-evaluation, informs you about ratios and what they indicate, and gives you information about diversification of revenue and governance and management.