Non-Profit

5 Financial Management Challenges Nonprofits Face During a Construction Project

For many nonprofits, launching a construction project marks a pivotal moment. Whether it’s building a new sanctuary, expanding a food bank’s warehouse or developing a community center, construction can dramatically increase your organization’s capacity to serve. But along with the promise comes financial complexity- and potential pitfalls. Unlike routine operating expenses, construction introduces a host […]

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Building with Fiscal Accountability

Sage Intacct Financial Software for Nonprofit Construction When your nonprofit construction initiative outgrows basic accounting systems, you need more than just software – you need a strategic partner who understands both the technical complexities of enterprise resource planning and the unique financial challenges of mission-driven building projects. Gray, Gray & Gray specializes in implementing Sage

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What a Massachusetts Charitable Donation Cap Might Mean for Your Nonprofit

By Michael Cecere, CPA, MST & Julianne Schwallie, CPA, MBA Gray, Gray & Gray, LLP The landscape of charitable giving has evolved through various tax policy changes over the years. The current proposal by Massachusetts Governor Maura Healey to cap charitable deductions represents one of the most significant shifts we’ve seen in decades. If implemented,

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Checklist to Prepare for a Nonprofit Audit

By Michael Cecere, CPA, MST & Julianne Schwallie, CPA, MBA Gray, Gray & Gray, LLP Nonprofit organizations continue to play a pivotal role in society, tackling diverse challenges and enriching communities through their endeavors. Their financial integrity is crucial to maintaining public trust and ensuring the continued impact of their work. Annual audits serve as

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Best Practices for Transparency in Financial Reporting for Nonprofits

By Michael Cecere, CPA, MST & Julianne Schwallie, CPA, MBA Gray, Gray & Gray, LLP To retain the trust and support of donors and the public, nonprofit organizations must maintain high levels of transparency, particularly in their financial reporting. Transparency helps to build trust and demonstrate that the organization is using its resources responsibly and

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Massachusetts Raises Financial Reporting Thresholds for Nonprofits

The Commonwealth of Massachusetts has recently implemented significant changes to its financial reporting requirements for nonprofit organizations, marking an important shift that affects hundreds of organizations across the state. These changes reflect a more nuanced approach to financial oversight that better aligns with today’s economic realities. Under previous regulations, nonprofits with annual gross support and

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5 Ways for Your Nonprofit to Weather Economic Uncertainty

No one can predict with certainty where the U.S. economy will be at the end of 2024 or in 2025. The presidential election, interest rates, inflation, overseas conflicts and the recent stock market performance all could influence the macroeconomic direction. So it’s prudent for nonprofit leaders to hope for the best but also plan for

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Sun or Storm? Forecasting Your Nonprofit’s Financial Future

Have you seen the forecast? No, not the weather forecast — but your not-for-profit’s financial forecast. Financial forecasting is critical to any organization’s good health, but it can be more difficult for nonprofits than for businesses. After all, you usually can’t predict how many donors you’ll have in the future, how much they’ll contribute or

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7 Fringe Benefits for Nonprofit Employers to Offer

One of the biggest challenges facing not-for-profit organizations is finding and retaining top-quality talent. It’s hard enough to overcome the perception — often a misconception — that nonprofits don’t pay their employees nearly as well as for-profit companies. When benefits are factored in, nonprofits can look more attractive. So you may want to review, and possibly

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Year End Donation - Nonprofit

Boost Year-End Donations to Your Nonprofits

You likely already know that year end is the optimal time for not-for-profits to conduct gift-giving campaigns. Donors are more generous during the holidays, and many people wait until the last minute to make tax-deductible gifts before the Dec. 31 deadline. In fact, according to Double the Donation, 10% of all charitable giving occurs on the

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