Nalanda Institute for Contemplative Science has experienced the benefits of outsourcing their accounting to 501 Commons’ Financial Services.

Your nonprofit’s fundraising events serve a myriad of purposes, from building relationships with donors to spreading awareness for your cause. But, primarily, your events aim to raise money.

As a nonprofit leader, you’ve likely spent significant time and energy planning your organization’s long-term programmatic growth. In order to put those plans into action and maximize your impact on the community, you need to take financial literacy seriously and plan for your nonprofit’s financial future.

For WA-based organizations, be sure that you stay legally compliant and implement the new minimum wage on January 1. You also need to check to see if you have exempt staff that qualify for overtime because their pay is below the new threshold.

For decades, nonprofit organizations have played a vital role in building healthy communities. One challenge that constantly faces them, however, is how to sustain operations during an economic downturn.

Most organizations are experiencing some level of financial stress. Even those receiving additional direct service funds may find that having a growing program is stretching administrative staff and operating systems.

Lawmakers are making it easier to convert Payment Protect Program (PPP) loans into grants. Learn how this can be done and how 501 Commons can assist you in applying for loan forgiveness.

The recent outbreak of COVID-19 is causing nonprofits to reevaluate how prepared they are for emergencies. We’ve been monitoring the situation closely and have assembled resources to help your organization adjust to this new reality.

Few accounting software programs can compete with Intuit’s QuickBooks for smaller to mid-sized organizations. Many nonprofit organizations use it for bookkeeping, payroll, and managing fundraising activities.

Nonprofit accounting brings unique challenges, rules, and reporting requirements that for-profit companies don’t have to deal with. If anything is confusing you or causing you to lose sleep at night, partner with us and we can guide your way to better bookkeeping practices.