This method keeps the CIP account balanced and accurately reflects total project costs. Tracking costs in CIP accounts helps monitor project expenses closely, identify potential budget issues, and make necessary adjustments early. This proactive approach supports better budgeting and financial planning for future projects. Properly managing CIP on the balance sheet ensures accurate reporting of […]

So, explore the worst charities in America before committing a valuable piece of real estate to a cause. The appraisal must be performed by a “Qualified Appraiser.” A qualified appraiser must have earned a designation from a recognized professional organization and have verifiable experience valuing similar properties. They must also be independent of the donor, […]

Depreciable assets must have a determinable trial balance useful life, be used in a business or income-generating activity, and lose value over time. The IRS provides guidelines on which assets qualify and how they should be classified. The time period over which an asset is depreciated depends on its classification. Tax depreciation and state-level complexities […]

Whether you’re helping people, funding community projects, rehoming animals, or supporting schools, every bit of money needs to be tracked and used wisely. Automated messaging enhances efficiency and reduces costs for nonprofits, improving donor engagement and retention while streamlining communication. It’s about building trust with your donors and making the most of every dollar to […]