In this series, we’re exploring some of the basic accounting concepts that every nonprofit professional should know. First up: net assets. What are they, and why are they important?
Contributions of real property can be very valuable to a growing nonprofit. But what happens if your organization no longer has use for that property, but you are unable or unwilling to sell it on the open market?
The audit committee is generally responsible for selecting an independent auditor and overseeing the audit process, as well as reviewing financial information and monitoring compliance with the organization’s fiscal policies.
