Managing a South Florida Nonprofit
Build on Your Foundation. Expand Your Impact.
You’ve established your nonprofit and begun putting your mission into action. As your organization grows, so do the financial responsibilities behind it.
SJH CPA helps South Florida nonprofits manage bookkeeping, grants, budgets, financial reporting, and other ongoing needs so leaders can stay focused on serving their communities.
WHAT'S INVOVLED
What It Takes to Manage & Grow a Nonprofit
Growth Brings New Opportunities, and New Financial Responsibilities
As your nonprofit grows, managing the financial side of the organization becomes more complex. You may be receiving larger donations, managing grants, developing budgets, reporting to your Board, or simply needing better visibility into where your organization stands financially.
The right systems can help you manage those responsibilities while preparing your organization for what comes next.
WHY IT MATTERS
Growth Changes What Your Nonprofit Needs.
A nonprofit can operate very differently once larger donations and grants begin coming in. More funding creates greater opportunity—but it can also mean more funds to track, more reporting requirements, and more people who need accurate financial information.
Your Board, management, donors, grantors, and the IRS may all need different information from your organization. Having the right financial systems in place makes it easier to understand where funds are going, meet reporting responsibilities, and make informed decisions as you grow.
The goal isn’t simply to keep better records. It’s to build financial systems that can keep pace with your mission.
HOW SJH HELPS YOU START A NONPROFIT
You Focus on the Mission.
We’ll Help You Manage the Financial Side.
You may have started with relatively simple finances. But as your nonprofit grows, bookkeeping, grants, budgets, reporting, and compliance can require more time and attention.
SJH CPA can help put the financial systems in place to manage that growth and provide the information your organization needs to move forward.
And As Your Nonprofit Grows...
Your financial needs may eventually require a higher level of oversight. Larger grants, more complex budgets, and increased reporting responsibilities can create the need for someone to take a more active role in managing the financial side of your organization.
SJH CPA can continue growing with you, including providing outsourced controller or CFO-level support for established nonprofits.
QUESTIONS
Questions About Managing a Nonprofit in South Florida?
Managing More Means Keeping Track of More
As your organization grows, new financial questions tend to come with it. Here are answers to some of the questions nonprofit leaders commonly face as they manage funding, reporting, and day-to-day finances.
How should a nonprofit track grant funds? A nonprofit should be able to clearly track how much funding was awarded, how funds are being used, what expenses have been charged to each grant, and how much remains available. The specific requirements will depend on the grant agreement and funder. Accurate records are especially important when a grant restricts how funds can be used or requires financial reporting. SJH CPA can help nonprofits establish systems for tracking grant activity, expenses, budgets, and reporting requirements.
What is a reimbursable grant, and how should it be tracked? A reimbursable grant generally requires your organization to incur eligible expenses first and then request reimbursement from the grantor according to the terms of the award. That makes accurate tracking especially important. Your nonprofit needs to know which expenses belong to the grant, whether they fall within the approved budget and grant period, and what documentation is required to support reimbursement. SJH CPA can help nonprofits track reimbursable grant expenses and budgets and support the financial information needed for grant billing and reporting.
How should a nonprofit track its budget? A nonprofit's budget shouldn't be something that gets created once and then put away. Throughout the year, your organization should compare actual income and expenses against the approved budget to understand where financial activity is tracking as expected—and where it isn't. Regular budget-to-actual review can help leadership and the Board understand the organization's financial position, identify significant differences, and make more informed decisions as circumstances change. SJH CPA can help nonprofits develop financial reporting that makes it easier to monitor budgets and understand how the organization is performing.
What financial reports should a nonprofit Board receive? There isn't one financial reporting package that's right for every nonprofit. The information your Board receives should reflect your organization's size, activities, funding sources, and financial complexity. Boards generally need timely information that helps them understand the organization's financial position and activity. This often includes a statement of financial position, statement of activities, and budget-to-actual reporting, along with information about cash flow, grants, restricted funds, or other significant financial matters when relevant. The goal isn't simply to give your Board more reports. It's to give them financial information they can understand and use.
What financial records should a nonprofit maintain? Nonprofits should maintain records that clearly document money received, expenses paid, and the financial activity reported on required tax filings. Depending on your organization, that may include bank statements, deposit records, invoices, receipts, donation records, general ledgers, contracts, payroll records, and other supporting documentation. Good recordkeeping also makes it easier to prepare financial reports, track grants and budgets, and provide information when it's needed by your Board, grantors, or other stakeholders. SJH CPA can help your nonprofit maintain organized financial records and build sound financial practices as your organization grows.
Does every nonprofit have to file Form 990? No. Not every nonprofit files Form 990 itself, but most tax-exempt organizations have some type of annual IRS filing requirement. The filing required generally depends on the organization's type, gross receipts, and assets. Some smaller organizations may qualify to file Form 990-N or Form 990-EZ, while larger organizations generally file Form 990. Private foundations generally file Form 990-PF, and certain organizations are excepted from annual filing requirements. It's important to know which filing applies to your organization. Failing to file a required Form 990-series return or Form 990-N for three consecutive years can result in automatic revocation of tax-exempt status. SJH CPA can help nonprofits understand their annual filing requirements and prepare applicable Form 990-series returns.