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...
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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...
Disclosures for joint cost allocations refer to the information that nonprofit organizations provide in their financial statements and accompanying notes to explain how they allocate shared costs...
Allocating joint costs for fundraising in a nonprofit organization involves distributing shared expenses incurred in fundraising efforts across different programs or activities that benefit from...
