You want to demonstrate your commitment to financial transparency. By publishing an independent audit report on your nonprofit website and providing the report to anyone who requests it, you’ll be assuring your donors and the public that your financial practices meet accepted standards — for handling contributions, for instance. Many public and private foundations — […]
Tag: donor trust
Managing Restricted Funds for an NPO
You get a large donation from a well-heeled graduate who wants the use restricted for a new science building. This is just one example of money with strings attached that nonprofits need to manage appropriately. But allowing donors to have input in the use of financial gifts motivates major gift-giving. Fund accounting — requiring funds […]