Not for Profit Organization
Non profit Org
There are countless organizations that work to help individuals and communities in need. In many cases, not-for-profits play a significant role in our society by undertaking projects that benefit the greater good. As one of the leading not-for-profit experts, Hemphill Wright & Associates, Inc. has served clients in the non-profit industry for more than 30 years. Over 80% of our present engagements represent services to not-for-profit agencies funded by federal, state and local governments. We are a trusted advisor in the not for profit world! We work to address our clients’ needs, whether they are simple or complex.
We look forward to assisting your organizations with:
Developing accounting policies and procedures that address revenue recognition, accounting for contributions, classification of endowment funds, developing a proper chart of accounts as well as preparation of GAAP financial statements and disclosures are common issues. You will find answers to these issues here.
Working for a not-for-profit organization, either as management, staff or a volunteer is a rewarding undertaking, but also has it’s challenges. Staff shortages, high turnover, compliance requirements, training and continuing education are just a few of the many challenges facing human resource professionals. Learn how to find solutions here.
One of the many responsibilities of the governing board is to assist management with its fundraising efforts. However, unless board members have a fundraising or development background, this can be a major challenge if they are unable to merely write a check. Management and the board need new ideas beyond the traditional annual dinner. Learn new and unique fundraising ideas by staying in touch here.
Not-for-profit leaders and staff are learning to embrace technology to improve everything from donor engagement, tracking funds coming in and going out as well as using business intelligence software to measure performance. These same leaders are learning that donor dollars and other resources are limited and the organizations that can effectively use technology to find and track resources are a step ahead. Learn more here.
Serving on a nonprofit board of directors is an exceptional opportunity for professional development, career growth, and community service. This site will offer actionable advice on how to align yourself for the position that best fits your goals, skills, and passion. After finding the best way to serve, it is vital to establish a governance structure that provides the level of checks and balances appropriate for the organization’s purpose, size and complexity. This site will also provide an overview of board structure for those charged with governance. Learn more here.
Sample Financial Statements
These ilustrative financial statements and Form 990 provide a non-authoritative example of a possibile presentation of a complete set of financial statements and Form 990 for small nongovernmental NFP that is not a health care provider under current GAAP
Download linked documents in Excel and Word to understand how the elements interrelate. A PDF copy of the financial statements, PDF of the Form 990, and an accompanying cash flow tool (Excel) are also available. Click here
Need to know: STRATEGIC PLANNING FOR NONPROFIT ORGANIZATIONS
Strategic planning is a process in which an organization determines what to accomplish in the future and what actions or resources need to be taken to achieve the goals. In this article, learn the process to start your strategic plan for nonprofit organizations.
Need to know: UNDERSTANDING NONPROFIT MANAGEMENT ROLES
Serving in a management role for nonprofit sector is intellectually rewarding and relatively lucrative. You must know how to navigate a roles and what non-profit managers do exactly. In this article, it gives you a clear and concise understanding for non-profit management roles.
Need to know: WHAT DOES A BOARD OF TRUSTEES DO?
A board of trustees is an appointed or elected group of individuals that has overall responsibility for the management of an organization. In this article, learn to know more about what a board of trustees do.
Need to know: TYPES OF NONPROFITS: EVERYTHING YOU NEED TO KNOW
Non-profit organizations work toward the public interest and usually tax exempted, assets and income are reinvested into the organization or donated depending on the nonprofit’s membership, mission, and structure . Check this article to know more types of nonprofit organizations.