Financial Oversight

Effective Nonprofits have adaptive systems, structures and cultural norms that build and maintain their capacity to achieve their vision, mission and goals. This means designing, maintaining and adapting organizational systems; implementing processes and tools to manage programs; and strategically organizing financial and human resources in ways that deliver most effectively on the mission.

Professional Development and Learning:

Resource Topics On This Page:

1. Financial Management
2. Financial Controls & Policies
3. Financial & Annual Reporting for Nonprofits
4. Financial Service Providers
5. Accounting Procedures
6. Audits & Related Options
7. Single Audit Service Providers
8. Fund Investments

1. Financial Management

NAO Nonprofit Financial Management Self-Assessment Tool - NAO
5 Myths in Nonprofit Finance - Public Interest Management Group
AICPA Nonprofit Resources - American Institute of Certified Public Accountants
Best Cloud Accounting Software for 2023 - BestAccountingSoftware
Finance and Accounting Risk Assessment - CFO Selections
Financial Management: Strong Nonprofits Toolkit - Wallace Foundation
Financial Stability Check-Up - CRCFO and Social Impacts Architects
Glossary of Financial Terms - Nonprofit Finance Fund
Indicators of Financial Crisis - The Foraker Group
What to Do if You Are in a Financial Crisis - Nonprofit Quarterly

Banking & Credit Cards

Best Banks for Nonprofits - Fit Small Business
Best Credit Cards for Nonprofits - Fit Small Business
Do Nonprofits Really Need Personal Guarantors on Credit Accounts? - National Council of Nonprofits
Should My Nonprofit Apply for a Business Credit Card - Charity Charge

2. Financial Controls & Policies

Internal Controls for Nonprofits - National Council of Nonprofits
Financial Control Recommendations for Small Nonprofits - Oregon Dept of Justice
10 Easy-to-Adopt Internal Controls for Small Nonprofits - Clark Nuber
Nonprofit Financial Policy Guidelines and Example - Propel Nonprofits
Nonprofit Fiscal Policies & Procedures: A Template and Guide - CompassPoint
Nonprofit Fraud Awareness & Prevention Strategies - CLA
It Happens: Understanding and Preventing Nonprofit Fraud - Your Part-Time Controller
Fraud Risk in Nonprofit Organizations: A Violation of Trust - Nonprofit Risk Mgmt Ctr

3. Financial & Annual Reporting for Nonprofits

Elegant Reporting in Nonprofit Accounting - CLA
Financial Statements of Nonprofits - Accounting Tools
Financial Statements: Take the Fear Out of Financial Statements - BoardSource
Financial Statements: Understanding Financial Statements - BoardEffect
Tax Exempt Resources & Tools for 501(c)(3) - IRS Website

Form 990 (Federal) - mandatory electronic filing requirement

Form 990: Electronic Filing Requirements Brochure - Aspen Institute
Federal Filing Requirements for Nonprofits - National Council of Nonprofits
Form 990 Resources & Tools - IRS Website
- Form 990 e-File for Charities & Nonprofits - IRS
- Form 990: Approved IRS e-File Providers - IRS
  - Approved IRS eFile Provider - Form 990 Online (990, 990-EZ)
    Free for nonprofits with less than $100K in gross receipts

Form CT-12 (State)

File Your Annual CT-12 Report - Oregon DOJ

Financial Accounting Standards Board (FASB)

FASB Issues New Accounting Rules for Contributions and Grants - McDonald Jacobs
FASB New Accounting Standards: Financial Reporting Standards Guide - Moss Adams

4. Financial/Accounting Service Providers

Nonprofit Financial/Accounting Services - NAO Business Affiliate Directory

5. Accounting Procedures

A Guide to Nonprofit Accounting: How to set up Bookkeeping & Accounting - Bench
Accounting Basics: Nonprofit Accounting Basics - GWSCPA Educational Foundation
Bank Statements: Do You Know Where Your Bank Statements Are - Oregon Dept of Justice
Budgeting: 5-Step Guide to Budget Development: Strong Nonprofits Toolkit - Wallace Foundation
Budgeting: 10 Step Annual Budget Checklist - Propel Nonprofits
Budgeting: Budgeting for Nonprofits - National Council of Nonprofits
Cash Flow: Strong Nonprofits Toolkit - Wallace Foundation
Credit Card Fees: How to account for when collecting online donations - DonorSnap
Donor Receipt: Requirements for the Donor Receipt - Clark Nuber
In-Kind Donations: In-Kind Donations: Accounting and Reporting for Nonprofits - CFO Selections
In-Kind Donations: Everything You Need to Know on Reporting In-Kind Donations - Clark Nuber
Pledges: Accounting for Pledges - Accounting Tools
Reserves: How Much Cash Should a Nonprofit Have in Reserves - NAO & CFO Selections
Reserves: Operating Reserves for Nonprofits - National Council of Nonprofits
Restricted Funds: What Are Restricted Funds - Foundation Group
Restricted Funds: Managing Restricted Funds - Propel Nonprofits
Revenue Recognition: Understanding New Revenue Recognition Guidelines - CFO Selections
Stock Gift Donations: Accounting and Reporting for Stock Gift Donations - CFO Selections
Unrelated Business Income: Tax Concerns When Your Nonprofit Corporation Earns Money - Nolo
Unrelated Business Income: Tax Requirements - IRS

6. Audits & Related Options

Nonprofit Audit Guide - National Council of Nonprofits
Nonprofit Audits: A Complete Guide to Financial Audting - Jitasa
Does Your Nonprofit Need an Independent Audit - National Council of Nonprofits
When Should I Have An Audit: Audit Options - Clark Nuber
What is a Review or Compilation - National Council of Nonprofits

State and Federal Requirements

Charity and Nonprofit Audits - IRS
Federal Law Nonprofit Audit Requirements - National Council of Nonprofits
State Law Nonprofit Audit Requirements - National Council of Nonprofits

Audit Readiness & Committees

Audit Readiness Self-Assessment: Strong Nonprofits Toolkit - Wallace Foundation
Building Strong and Effective Audit Committees - Clark Nuber

7. Single Audit Service Providers: These NAO affiliate members offer Single Audit services for nonprofits that receive federal grants.

8. Fund Investments

403b vs. 401k Comparison Chart - RBC Wealth Management
Investing for Nonprofits Best Practices - Headwater Investment Consulting
Investment Committee Best Practices - BoardEffect
Investment Committees: More Than the Sum of Their Parts - Arnerich Massena
Investment Policies for Nonprofits - National Council of Nonprofits

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