Not-For-Profit

As we reach the year’s halfway point, it’s an opportune moment for executive directors of not-for-profit organizations to pause, reflect, and strategize for the months ahead. The mid-year mark offers a critical juncture to assess your financial performance, recalibrate your goals, and implement strategies to maximize your organization’s impact for […]

Welcoming a new treasurer to your not-for-profit board is a pivotal moment that requires careful planning and execution. The treasurer plays a critical role in maintaining your organization’s financial health and integrity. Follow these comprehensive onboarding steps to ensure a smooth transition and set your new treasurer up for success. […]

In the intricate tapestry of corporate governance, two integral components play pivotal roles in steering an organization toward success: Management Reporting and Board Reporting. While these terms may appear synonymous, a closer examination reveals distinct purposes, audiences, and methodologies. This high-level exploration aims to shed light on the differences between […]

Introduction In the meticulous realm of financial management for not-for-profit organizations, the determination of the optimal reserve amount is a strategic undertaking crucial for long-term fiscal health. This article unravels the intricacies involved in this process, exploring the factors influencing the ideal reserve amount and the methods accountants employ to […]

In the dynamic realm of not-for-profit organizations, the strategic management of reserve funds is paramount to ensuring financial stability and sustained impact. While having reserves is undeniably essential, encountering a reserve fund at risk demands immediate and well-thought-out actions. This article provides an in-depth analysis of common threats to reserves […]

In the dynamic landscape of not-for-profit organizations, effective financial management is essential for long-term sustainability and impactful mission execution. At the forefront of this endeavour is the Finance Committee, a cornerstone of governance that plays a pivotal role in steering organizations through the intricacies of fiscal responsibility. In this comprehensive […]

As the calendar turns to a new year, businesses worldwide contemplate ways to fortify their operations and elevate performance. For many organizations, a key area of focus is the refinement of finance operations to ensure fiscal health and sustainable growth. In this article, we delve into ten strategic New Year […]

As the financial backbone of a not-for-profit organization, the role of a board treasurer is critical in ensuring the organization’s financial health and sustainability. While it may seem intimidating initially, with the right skills and knowledge, anyone can become an effective treasurer. In this comprehensive guide, we will explore the […]

Introduction In today’s challenging economic landscape, not-for-profits’ sustainability hinges significantly on their financial health. One crucial aspect of this financial well-being is the strategic management of operating reserves – a safety net of funds set aside for unforeseen monetary emergencies. We will explore the importance of operating reserves, how to […]

Financial leadership plays an instrumental role in the long-term success of nonprofit organizations. In this context, the role of a Finance Director is pivotal. They are the gatekeepers of an organization’s financial health, overseeing the management of financial resources, ensuring financial stability, and guiding the organization toward sustainability. This article […]

As a not-for-profit organization, measuring your performance and success is crucial for achieving your mission and impacting your community. Key Performance Indicators (KPIs) provide a framework for evaluating your organization’s progress and identifying areas for improvement. This comprehensive guide will explore the significance of not-for-profit KPIs and delve into the […]

In today’s rapidly evolving world, not-for-profit organizations face the challenge of adapting to an ever-changing landscape while striving to impact their communities and fulfill their missions significantly. The key to achieving this lies in embracing innovation as a driving force for success. By pushing the boundaries of traditional approaches and […]

Accurate forecasting is crucial for private businesses and not-for-profit organizations seeking to make informed decisions and plan for the future. However, biases can unintentionally influence forecasting, leading to inaccurate predictions. In this blog post, our accounting and finance team explores the importance of mitigating bias in forecasting and presents strategies […]

As a non-profit organization, having a clear strategy is crucial to achieving your mission and goals. A board strategy session is an excellent opportunity to bring your board members together to assess the organization’s progress, identify challenges and opportunities, and set the course for the future. Here are some tips […]

Valentine’s Day is dedicated to expressing affection towards those special to us. For a little fun, we share six reasons you should show some love to your finance department this Valentine’s Day.  They keep the lights on.  The finance team is responsible for managing the financial health of a business. […]

Not-for-profit organizations are a vital part of our society and provide critical services that help people in need. These organizations need to be transparent and accountable to their donors, volunteers, and clients. One way to achieve this is through an effective budget. A strong budget should be created with the […]

Financial management for all corporations and organizations involves analyzing, evaluating, planning, forecasting, implementing, monitoring, and controlling the use of funds. However, for Not-For-Profit organizations, ensuring the financial and accounting records are being accurately and transparently managed is of even higher importance because of public, donor, and corporate funding. The challenges […]