Source: FreePik More than ever, nonprofit organizations are looking for ways to operate more efficiently. There is pressure to reduce employees and outsource whenever possible, and as a result, hiring virtual CFO services rather than the more conventional in-house full-time…
Source: FreePik “Don’t keep all your eggs in one basket”- this is how the saying goes. And this is also valid for nonprofit organizations, having diverse revenue streams can help your organization thrive in the nonprofit world. Whether we talk…
Source: FreePik While nonprofit leaders often think of financial performance as their most important metric, the truth is that it’s only one of many nonprofit KPIs. For a nonprofit organization to succeed, they need to have a good handle on…
Source: FreePik One of the most effective strategies to generate revenues for your nonprofit[1] organization is crowdfunding. It’s a great way to raise money quickly, but it’s also important to plan carefully before you launch your campaign. You’ll need a…
More than ever, nonprofit organizations must improve their efficiency in light of the rising volume of donations. Charity accounting plays an important role in the efficiency formula. Without it, your nonprofit can later experience financial difficulties. A nonprofit or charity…
Fundraising for nonprofits can sometimes be harder than expected. The nonprofit sector is quickly expanding, and the potential sponsors and investors are distributing their attention to various charities active in the same industry (i.e., environment, social issues, or religious organizations).…
A sudden air of change has recently started to blow amid workplaces, businesses, and organizations, with chief financial officers facing even more challenging tasks than accurate financial reporting. CFOs now navigate a space that requires them to partake in the…
Poor financial decisions are one of the reasons why many organizations with a nonprofit status fail during the early development stages. And accounting practices are of high importance for your financial health. As a nonprofit organization, you have different accounting…