Nonprofit Financial Boot Camp Part 2
October 18 @ 9:30 am - 12:30 pm
Faculty: A. Michael Gellman, CPA, CGMA, Fiscal Strategies 4 Nonprofits
Course Objective: Gain a better understanding of accounting for contributions and best practices for financial sustainability.
Considering “Financial Sustainability” is essential. Organizations that are not constantly searching for fiscal improvement opportunities are at severe risk of damaging their financial sustainability. Nonprofit organizations can greatly increase their chances to improve their fiscal health and sustainability by remaining vigilant in their fiscal monitoring, accounting practices and financial management. Explore and discuss a list of ten fiscal sustainability improvement practices that have time proven effectiveness and only take vigilance and patience to implement.
Next, explore what makes contributions different from other types of earned income like memberships and program registrations. We will explore how to properly record contributions in the accounting system and how donor requests trigger restrictions that impact obligations and uses of their funds. We will also look at non-cash and in-kind contributions and review both the purpose and recording of these funds. We will finish with case study examples where you will have the opportunity to tryout your new learned skills and explore through real-life examples how to account for contributions and document donor requests.
This course is being offered in conjunction with Nonprofit Financial Boot Camp Part 1 on October 17, 2019. Attendance to both is not mandatory, but you must register separately for each.