Bookkeeping For Nonprofits: How Is It Different Than For Small Business?

Рет қаралды 3,088

Күн бұрын

Bookkeeping... you know what it is, but do you know how it differs when it comes to your nonprofit vs. Bookkeeping for a small business? It’s not the same, and those differences matter.
📚 ADDITIONAL RESOURCES:
•VIDEO: What is Unrelated Business Income in a Nonprofit? • What is Unrelated Busi...
•VIDEO: How Do You Manage Restricted Funds? • How Do You Manage Rest...
•VIDEO: Who REALLY Owns a Nonprofit? • Who REALLY Owns a Nonp...
•VIDEO: What Records Should a Nonprofit Keep? • What Records Should a ...
•BLOG ARTICLE: Should Your Nonprofit Outsource its Bookkeeping Needs?
www.501c3.org/should-your-non...
•BLOG ARTICLE: Bookkeeping For Nonprofits: How Is It Different Than For Small Business? www.501c3.org/bookkeeping-for...
🏆 YOUR NEXT STEP:
•Fill out this form for a FREE consultation nonprofit bookkeeping: www.501c3.org/501c3-services/...
•Register for Fundraising TV: www.501c3.org/fundraising-tv/
•Download the FREE eBook “10 Things You Need to Know Before Starting a Nonprofit” bit.ly/3XhFag0
0:00 Introduction
0:58 #1: Nature and Purpose of the Entity
1:46 #2: Revenue Recognition
2:36 #3: Financial Statement Terminology
3:16 #4: Tracking of Equity vs. Net Assets
4:23 #5: Profit vs. Surplus
5:42 #6: Taxes
6:24 #7: The Need for Professional Assistance
7:05 Conclusion

Пікірлер: 8

@FoundationGroup 10 ай бұрын

If you need help filing for IRS 501(c)(3) status, we’d love to help. Fill out the form at bit.ly/3i6rFxz or give us a call at 888-361-9445.

@earlysda 13 күн бұрын

This was an excellent introductory overview of the subject. Thank you.

@FoundationGroup 13 күн бұрын

Glad you enjoyed it!

@katiefunk9780 10 ай бұрын

Thanks for the very helpful video! I’m a bookkeeper with a nonprofit prospective client. Now I know more of what to look for in our consultation call.

@Mstroup93 5 ай бұрын

This was a great video! very informative, thank you

@FoundationGroup 5 ай бұрын

Glad you enjoyed it!

@STARMHFoundation 2 ай бұрын

I am newly established (private foundation). I have used my own money to start up such as the 1023EZ, Marketing items, website/domain-- can I pay myself back out of the funds I have received into my nonprofit?

@FoundationGroup Ай бұрын

Sorry for the delayed response. You can only do that if two things are both true: 1) You did not claim the money spent as a charitable contribution to the nonprofit (can't double-dip!), and 2) You have a written expense reimbursement policy/agreement in place, preferably prior to having spent the money. If you've already spent the money...and I suspect you have...put a policy in place anyway before you reimburse any funds. Your board needs to approve this policy and also approve the idea that it will cover your prior expenses in arrears.