Tips for Overcoming Nonprofit Finance Challenges and Complexities
From managing the complexity of multiple revenue sources to dealing with ongoing rules and regulations changes, nonprofit finance and accounting professionals sure have their hands full with challenges in their day-to-day operations. It’s no wonder nonprofit finance departments are vulnerable to staff turnover. But, that’s not all we wanted to learn about nonprofit finance. In our 2016 Nonprofit Finance Study, we surveyed more than 400 nonprofit finance professionals to better understand the challenges and complexities of the more technical aspects of nonprofit finance.
In this nonprofit finance webinar, Abila’s Dan Murphy, Senior Manager of Fund Accounting Strategy, and Jenna Overbeck, Research and Publications Manager, uncover:
- Top financial challenges for nonprofit finance professionals
- Tips for managing revenue complexity, such as having a multi-dimensional chart of accounts (a.k.a. true fund accounting™ system)
- Trends in financial compliance related to time spent on compliance activities, reliance on technology, and more
- Tips for managing financial compliance and documenting processes/succession planning
- Attitudes by nonprofit financial professionals toward federal regulations
- Recommendations for preparing for changes to FASB 117
- Recommendations for preparing your nonprofit for overtime pay rule changes
- Top reasons nonprofits fail a financial audit, and tips for how to not be one of them
Discover how your nonprofit organization can learn from 2016 Nonprofit Finance Study findings. Watch this webinar for recommendations that will help your nonprofit finance professionals navigate through complexities and overcome challenges.