In this episode, we are bringing back one of our most popular episodes from Season 5, Episode 3, Prioritizing Organization to Avoid Clerical Errors , enjoy! Do you know your deadline for accounting reports? Does each member of your organization understand the proper use of funds? After working hard to receive a grant, you want to make sure you're doing everything correctly to prevent the feds or your community from thinking you are misusing funds. In this episode, I will share more tips on adequ...
Aug 02, 2022•8 min•Season 11Ep. 106
In this episode, we are bringing back one of our most popular episodes from Season 5, Episode 2: Prioritizing Proper Accounting , enjoy! Can you explain your accounting reports? Maybe you aren't a specialist, but you are relying on someone else on your team to keep up with your accounting. The news can make mishandling of funds look like a frequent occurrence, but there are ways to ensure things don't go awry. In this episode, I will be sharing tips with you on how to make sure you are prioritiz...
Jul 26, 2022•6 min•Season 11Ep. 105
In this episode, we are bringing back one of our most popular episodes from Season 1, Episode 9: Can a Nonprofit Make a Profit , enjoy! What would it mean for the communities you serve if you saved up some money? What difference would it make in their lives if you added funds? Sometimes we are conflicted and lack clarity on the understanding that it is okay to want to generate more funds for your nonprofit organization. So, what is the difference between a for-profit and a not-for-profit organiz...
Jul 19, 2022•5 min•Season 11Ep. 104
Our number one most popular episode is Season 1 Episode 1 - Distill Your Mission, enjoy! When people ask about your organization, do you feel like a deer in the headlights? Sometimes, our humble servant hearts kick in, but we aren't clear on our mission most often. While this uncertainty can lead to confusion for whoever is asking, it can also cause more issues when it comes to saying yes to what aligns with your mission and no to what doesn't. In this episode, we will be getting clear on your w...
Jul 12, 2022•5 min•Season 11Ep. 103
I am so excited to have Tosha Anderson of The Charity CFO back on the show today. Tosha provided so much insight in season 9 of the podcast, and we couldn't wait to bring her back. Tosha has dedicated her entire career to serving the nonprofit community, first as an auditor and then as a CFO, board member, volunteer, and consultant. In this episode, Tasha dives into what we need to consider with our budgets to achieve our yearly goals. Topics covered in today's episode: Introducing Tosha Anderso...
May 31, 2022•6 min•Season 10Ep. 99
If you are an organization that has been giving direct aid, emergency assistance, or you're giving out food and housing assistance, you want to make sure you are tracking this correctly to disclose it in your 990. Today's episode will finish our discussion of the IRS Form 990 and the schedules that stand out the most. If you work with grants, you want to tune in to know what a grant is (and isn't) and how to make sure your organization is communicating effectively to make sure you are pulling th...
May 24, 2022•9 min•Season 10Ep. 102
Do you enjoy putting together fundraisers for your organization? Once the event is cleaned up and the money counted, do you make sure to document the correct form for your 990? Today's episode will discuss filling out your 990 Schedule G to track and report your fundraising income. Information about the 990 Schedule G covered in this episode: The purpose of the Schedule G (1:08) Differentiating fundraisers from marketing events (2:42) Using Schedule G to analyze your fundraising outcomes (4:41) ...
May 17, 2022•9 min•Season 10Ep. 101
Have you come across more donations or donors who want to remain anonymous? In today's episode, we will discuss one of the more overlooked forms your organization needs to fill out: 990 Schedule B and the beginning piece of what's included in terms of their name, address, and value. Information about the 990 Schedule B covered in this episode: The purpose of the Schedule B (1:14) Disclosing anonymous gifts (1:54) Assessing the value of things (2:42) Redacting information from your 990 (4:28) Ben...
May 10, 2022•7 min•Season 10Ep. 100
Are you ready to fill out your 990? If you haven't checked out my previous episodes covering your 990, check them below and learn how to use this form to brag on yourself! In today's episode, we will be digging into other ways the IRS will be using this form to get to know more about your organization and how you can appropriately fill it out. Information about the 990 covered in this episode: Diving into the 990 (1:14) The most common schedules our clients complete (1:39) The first part of Sche...
May 03, 2022•10 min•Season 10Ep. 98
So you have received your management letter following your audit…now what? In today's episode, we will be digging into how understanding the contents of the management representation letter and who receives it, you can be better prepared to respond to the auditor's management letter if necessary. Information about the management representation letter provided in this episode: The purpose of the management representation letter (1:14) What the management representation letter includes (2:20) Who ...
Apr 26, 2022•9 min•Season 10Ep. 97
If you're a nonprofit business owner, you may be wondering what a management letter is. If you're preparing to go through an audit, it's essential to understand what to expect from the management letter. In today's episode, we will be going deeper into what you can expect from an audit and how this letter will summarize the auditors' findings and provide recommendations for improvement. Information about the management letter provided in this episode: Recapping the audit contents (1:06) The purp...
Apr 19, 2022•10 min•Season 10Ep. 96
Does the idea of an audit make you want to run and hide? In today's episode, I want to use my experience and expertise as an auditor to share what an audit looks like and how you can better understand the next steps you need to take. Sometimes, we need to break down a process to save ourselves from a breakdown. Topics covered in today's episode: What people are expecting when they ask for an audit (1:40) What an audit includes (2:29) What the auditor is responsible (3:36) Digging into the audito...
Apr 12, 2022•10 min•Season 10Ep. 95
Hi there! If you are a nonprofit leader ready to become comfortable talking about money, you are in good company! I am so excited to have Tosha Anderson of The Charity CFO on the show today. Tosha provided so much insight and value to each question I asked her. Tosha has dedicated her entire career to serving the nonprofit community, first as an auditor and then as a CFO, board member, volunteer, and consultant. In this episode, she went above and beyond to explain what we need to be doing and w...
Mar 01, 2022•23 min•Season 9Ep. 94
Hi there! If you are a nonprofit leader ready to become comfortable talking about money, you are in good company! After taking care of your standard reports, your 990, and your audit report, now is the time to showcase your organization and put it into a document that genuinely represents who your nonprofit serves. Your annual report will highlight this past year, and you will be able to proudly hand it out to funders and those who visit your website. Topics covered in today's episode: What is a...
Feb 22, 2022•8 min•Season 9Ep. 93
Hi there! If you are a nonprofit leader ready to become comfortable talking about money, you are in good company! While most tax documents aren't fun, we have to accept that we must complete them each year. However, one form is simple to fill out, and it's the only form where you get to brag about your organization! Let's dive into this episode and set your organization up for success with the IRS Tax Form 990! Topics covered in today's episode: What is an IRS Form 990 (1:45) Filling out a 990 w...
Feb 15, 2022•8 min•Season 9Ep. 92
Hi there! If you are a nonprofit leader ready to become comfortable talking about money, you are in good company! One of the tricky topics thrown around when dealing with money is the idea of an audit. Today's episode will discuss a few tips to help you understand and prepare for audits inside your organization. Audit tips covered in today's episode: Overview of audits (1:45) Why you need an audit (4:36) When to be ready for an audit (5:00) Understanding your budget for an audit (6:07) What the ...
Feb 08, 2022•8 min•Season 9Ep. 91
Hi there! If you are a nonprofit leader who is ready to become comfortable talking about money, you are in good company! I am so excited for today’s episode because we get to chat with Christal M. Cherry who is a nationally recognized nonprofit executive and professionally trained fundraiser. She has over 20 years in the nonprofit sector and has supported human services organizations, faith-based missions, and higher education institutions. Christal has collaborated, interfaced, and guided diver...
Feb 01, 2022•15 min•Season 9Ep. 90
Hi there! If you are a nonprofit leader ready to become comfortable talking about money, you are in good company! We always talk about preparing the numbers of your budget. To help you become comfortable talking about money, I’d like to share some tips on preparing yourself and your team for budgeting and how it will benefit both of you. Tips shared in today’s episode: Two reasons you might not have your budget finalized in January (2:17) When to have your budget finalized and why (3:11) How you...
Jan 25, 2022•9 min•Season 9Ep. 88
Hi there! If you are a nonprofit leader ready to become comfortable talking about money, you are in good company! It’s a new year, and the beginning of the year typically means it is the season for board retreats. In today’s episode, I will share three tips for you to go into this retreat. Tips covered in today’s episode: Establishing your why (2:06) Planning for a successful and beneficial retreat (2:54) Leaving accomplished and ready for action (5:16) I hope today’s episode helped you hone in ...
Jan 18, 2022•7 min•Season 9Ep. 89
Hi there! If you are a nonprofit leader who is ready to become comfortable talking about money, you are in good company! I am so excited to kick off this season where I can focus on the value of indecision. The planner in me loves the New Year planning, but I also value the ability to “just take the next step”. Tips covered in today’s episode: Making a list and choosing the next step to move forward. (1:33) Decision-making and 2020’s bigger plans. (2:07) The reason we stay indecisive. (3:06) The...
Jan 11, 2022•7 min•Season 9Ep. 87
On the season finale of The NonProfit Ace Podcast, I’ve got a little homework for you guys to do (it's ungraded guys, don’t worry)! We wrap this season up with a little self reflection by writing letters to ourselves. This is a chance to talk about your wins, losses, personal feelings - any and everything that you may have not expressed before. Thank you guys for tuning in for another season and I look forward to connecting with you all soon! Closer Look Letter to yourself (0:45) Download your F...
Dec 21, 2021•6 min•Season 8Ep. 86
Welcome back to the NonProfit Ace Podcast! In today’s episode, we focus on knowing when things change and how to prepare yourself for these changes. Knowing when financial changes are coming and having a plan in place to adapt to these adjustments is a critical part of financial management within your non-profit. Thank you for tuning in! Closer Look Preparing for the change (0:52) Download your FREE Fraud Risk Assessment here: http://cnrgaccountingadvisory.com/fraud Connect with Chyla and CNRG A...
Dec 14, 2021•5 min•Season 8Ep. 85
Welcome back to The NonProfit Ace Podcast! We have a special BONUS EPISODE this season in preparation for the next season of NonProfit Ace! We chat with Tosha Anderson of The Charity CFO, and she gives us all the tips on preparing for a new fiscal year in your nonprofit. This episode is full of goodies you don’t want to miss! Check it out! Closer Look Considerations to make when planning for the end of the year (1:46) Things we tend to forget in the nonprofit world (3:30) What you should incorpo...
Dec 07, 2021•7 min•Season 8Ep. 84
Welcome back to The NonProfit Ace Podcast! This is part 2 of my interview with Sabrina Walker Hernandez. Sabrina is the President and CEO of Supporting World Hope, a nonprofit consultation service based out of Edinburg, Texas. In this episode, we discuss ways to prepare for the New year. Check it out and thank you for tuning in! Closer Look Preparing for the New Year (1:26) Download your FREE Fraud Risk Assessment here: http://cnrgaccountingadvisory.com/fraud Connect with Chyla and CNRG Accounti...
Nov 30, 2021•6 min•Season 8Ep. 83
Welcome back to The NonProfit Ace Podcast! This is part 1 of my interview with Sabrina Walker Hernandez. Sabrina is the President and CEO of Supporting World Hope, a nonprofit consultation service based out of Edinburg, Texas. In this episode, we discuss why you should prioritize your board and the importance of having the right people on your team. Check it out and thank you for tuning in! Closer Look Meeting Sabrina Prioritizing your board Importance of recruiting Download your FREE Fraud Risk...
Nov 23, 2021•13 min•Season 8Ep. 82
Welcome back to The NonProfit Ace Podcast! Today we are taking a break from our focus on budgets to remind you to update your chart of accounts. We discuss the difference between the two and why it is important to make updating your chart of accounts a regular event. Thank you for tuning in! Closer Look Difference between budgets and chart of accounts (0:25) Download your FREE Fraud Risk Assessment here: http://cnrgaccountingadvisory.com/fraud Connect with Chyla and CNRG Accounting Advisory: Fol...
Nov 16, 2021•3 min•Season 8Ep. 81
Welcome back to The NonProfit Ace Podcast! This is part 2 from my interview with Otwan Lowery! We discuss what organizations need to consider when planning the budget for a grant or program. Check it out and thank you for tuning in! Closer Look Organizational focus when planning a budget (1:10) Precautions to take when allocating funds (5:48) Download your FREE Fraud Risk Assessment here: http://cnrgaccountingadvisory.com/fraud Connect with Chyla and CNRG Accounting Advisory: Follow us on Instag...
Nov 09, 2021•7 min•Season 8Ep. 80
Welcome back to The Nonprofit Ace Podcast! Today, we are joined by Otwan Lowery, founder of Precise Grants, which is a grant compliance tool for nonprofits and other small businesses. Otwan is also an experienced CPA and has worked for several prominent organizations and firms in his career. He joins us to talk about his background, what drove him to create Precise Grants, and advice for those looking to align their fiscal outlook with their goals and dreams. Check it out and thank you for tunin...
Nov 02, 2021•21 min•Season 8Ep. 79
Hello guys and welcome back to The Nonprofit Ace Podcast! This is part 2 of our conversation with Makisha Boothe. Makisha is back to discuss the one thing organizations should consider when putting together a budget and how this plays a role in the execution of any strategic plans they may have. It’s a brief but informative conversation that can help you build and effectively manage your organization's finances. Check it out! Download your FREE Fraud Risk Assessment here: http://cnrgaccountingad...
Oct 26, 2021•4 min•Season 8Ep. 78
Hello guys! Today on The Nonprofit Ace Podcast, I am joined by Makisha Boothe! Based out of Denver, CO, Makisha is a business coach and founder of Sistah Biz , a nonprofit/for-profit organization that works with black women entrepreneurs. We had a great conversation about her beginnings, her business model, and what’s in store for the future. Tune in and thank you so much for joining us! Closer Look Working with black women entrepreneurs Makisha’s business model Prioritizing goals in your vision...
Oct 19, 2021•19 min•Season 8Ep. 77
