Nonprofit & Government Times Q1 2020

Educating Your Board About Nonprofit Accounting MATTHEW CASTELLANO, CPA SENIOR MANAGER, NONPROFIT, GOVERNMENT & HEALTHCARE GROUP

T he Boards of Directors of nonprofit organizations are full of reputable individuals who share their expertise, energy and judgment because they care about the organization’s cause. The Board is not self-serving, but selfless, and organiza- tions rely on them to further their mission. Board members come from a multitude of backgrounds and industries, serving as

excellent resources for many facets of a nonprofit, but one area of specialty where it can be hard to find an expert for a Board is nonprofit accounting. This can put nonprofit management in a difficult position when trying to explain the organization’s numbers and financial position to their Board.

The majority of nonprofits budget at breakeven with the anticipation that expenses will be covered by

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