Related parties in the nonprofit sector refer to individuals, organizations, or entities that have a close relationship with a nonprofit organization that could potentially influence financial...
Posts by Caroline Grimm
Noncontrolling interests (NCI), also known as minority interests, refer to the ownership stake in an entity that is not held by the parent or controlling entity. In the nonprofit sector, NCI can...
Special Purpose Entities (SPEs), also known as Special Purpose Vehicles (SPVs), are legal entities that are created for a specific, often limited, purpose or project. In the nonprofit sector, SPEs...
Affiliated organizations, in the context of nonprofit entities, refer to separate legal entities that maintain a close and interconnected relationship with each other. These organizations are...
Understanding Contingent Liabilities and Their Impact on Nonprofits
Contingent liabilities for a nonprofit refer to potential obligations or liabilities that may arise in the future due to uncertain events or circumstances. These liabilities are not certain to occur...
Petty cash is a small fund of cash that nonprofit organizations keep on hand for making small, everyday expenses that are impractical to pay by check or electronic means. Properly managing petty cash...