"Annual income twenty pounds, annual expenditure nineteen...result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six...result misery."
It's one thing to want to get your organization's finances together, and it's quite another thing to do it.
Jesslyn Shields, Watershed Support Coordinator here at Georgia River Network, answered a Frequently Asked Question about how to establish some basic financial controls in a small nonprofit. Click here to read her response and browse the other nonprofit FAQs.
This list of common financial practices can help you get started.
This article talks about how to choose an accounting system--especially if your organization is growing.
This article talks about how financial transparency can help with fundraising.
AUDITS!! Why have one and what can it do for your organization? And do you even need an audit or can you just do a yearly financial review instead?
FISCAL SPONSORSHIPS & MERGERS
Fiscal Sponsorships: Sometimes an unincorporated group will seek a fiscal sponsorship from an incorporated group to complete a project or to hold them over until they can corporate as a nonprofit themselves.
This resource will point you to resources about the process and search strategies used to identify potential sponsors.
Mergers and Acquisitions: This is just a fancy way of saying that sometimes it's in a nonprofit's best interest to join forces with another for the benefit of both.
Read this article to learn more about different ways nonprofits can join forces.