Tag Archive: "nonprofit cost centers"
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Whole Organization Budgeting: A Collaborative Approach for Nonprofits
A thoughtfully crafted budget is a blueprint for accomplishing your mission and program priorities. It does very little good if, once it is created, it disappears into your accounting system never again to be discussed with program leaders.
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Elegant Nonprofit Reporting: System Design
Taking the time to design an elegant chart of accounts, cost centers, and allocations creates the conditions in which your accounting system will eventually bear fruit – reports and dashboards rich with information that effectively tell your nonprofit’s financial story.
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Elegant Reporting in Nonprofit Accounting
The whole point of designing an elegant accounting system is to produce elegant reports – useful, cogent information to help us make decisions, inspire our staff, build trust among our stakeholders, and align our use of resources to meet our mission goals.
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Elegant Allocations in Nonprofit Accounting
The point of taking the time to design an elegant accounting system is not only simplicity, it is power – decision-making power. For nonprofits, we strengthen our decision making when we can see the whole truth about our programs and their finances.
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Elegant Cost Centers
To build toward financial elegance, start with the broadest view of your organization and work inward. All nonprofits have a mission and a corresponding mission statement. The way your organization goes about its work, and the financial systems it sets up to support its work, should flow directly from that mission.