Financial Management

Guide and Template for Fiscal Policies and Procedure – Uploaded 6.29.15

CompassPoint has developed a well-organized, time-saving template and accompanying guide to make it a bit easier for you to write or update your organization’s fiscal policies and procedures. We believe that the most important part of developing policies and procedures is that they are discussed, agreed upon, and regularly reviewed by both the decision makers in an organization and by those who will be implementing them on a day-to-day basis. There is no “one size fits all” template that will work for all organizations, but this template and guide offer a recommended structure for policies and procedures as well as some questions to guide you in considering what is best for your organization.

Uploaded by MacFarlane Faletti & Co – 6.8.17

For those nonprofit organizations who are required to have (or elect to have) an audit, review, or compilation of their financial statements – the Financial Accounting Standards Board has issued an update to the presentation which will become effective for calendar years ending December 31, 2018/fiscal years ending June 30, 2019.

Their goal is to improve how nonprofit organizations communicate their financial performance by providing more relevant information about available resources and changes in those resources. It revises the current net asset classification from unrestricted, temporarily restricted, and permanently restricted into two classes – net assets with donor restrictions and net assets without donor restrictions. Other significant changes include: enhancing the disclosures related to self-imposed Board restrictions on resources, requiring that organizations present a statement of functional expenses, and quantitative footnotes regarding the availability of financial assets to meet needs for general expenditures.

For additional information on these upcoming changes, you may wish to read the attached PDF or visit the FASB website at:

Nonprofit organizations impact communities and individuals by delivering services, providing advocacy, and building community. Behind the scenes, powerful missions, innovative programs, and passionate staff and volunteers are supported by financial activities and decisions. Healthy nonprofit organizations employ financial management practices that build stability and flexibility both today and in the future. Created by the Nonprofits Assistance Fund.

Overhead isn’t just an accounting issue; it gets to the heart of how government, philanthropy, and the public judge nonprofits. Even how nonprofits perceive themselves! We are at a pivotal point in the overhead debate, and it is time to change the conversation so that realistic strategies can be developed for understanding, communicating, and funding the full cost of delivering services.

This resource examines hot-off-the-press research on overhead and messaging, and practices incorporating new ideas into our policy strategies and discussions with government, philanthropic entities and the public.