Understanding Promises to Give in Nonprofit Accounting: A Guide for Nonprofits and Donors.
Promises to Give, also known as Pledges, are a common source of funding for nonprofit organizations. A Promise to Give is a commitment made by a donor to give a certain amount of money to a nonprofit...
Understanding Pass-Through Contributions in Nonprofit Accounting
Learn about pass-through contributions in nonprofit accounting. Understand how they are different from other types of donations and how they are reported in the financial statements. Get insights...
Understanding Nonprofit Income vs. Revenue: Examples and Key Differences
Nonprofit organizations exist to pursue a mission, not to generate profits for shareholders. However, like any other organization, nonprofits must generate income and revenue to sustain their...
Understanding How Expenses are Reported by Nature and Function in Nonprofit Accounting
Nonprofit organizations have a unique way of reporting their expenses, which is different from for-profit businesses. This is because nonprofits need to provide detailed information about how their...
Understanding How Donor Gifts with Benefits Impact Nonprofit Revenue
This article discusses how nonprofits can properly account for donations that involve a donor receiving a benefit, such as a tote bag or other item, and how to properly report these donations on...
Nonprofits have several specialized bookkeeping concerns that are different from for-profit businesses. Some of these concerns include: Fund Accounting: Nonprofits have multiple funds, and each...
