MCN's blog provides a space for affiliate members to share their expertise, guidance, and tools to help nonprofits best serve their constituents.
To retain the trust and support of donors and the public, nonprofit organizations must maintain high levels of transparency, particularly in their financial reporting. Transparency helps to build trust and demonstrate that the organization is using its resources responsibly and effectively.
In the heart of every nonprofit is a mission—a vision to change the world, one act of service at a time. Yet, behind the scenes, countless organizations fight silent battles against outdated systems, cybersecurity threats, and the ever-present constraints of limited resources. These challenges often feel like insurmountable hurdles, but what if they were the catalysts for transformation instead?
It can be cathartic to vent about a website that’s frustrating to update and use. But likely, many people–working with different challenges and constraints–made many decisions that created your website. When a site isn’t working for an organization, it can be tempting to ask: who’s to blame? Can you future-proof your next site?
Who pays for unemployment? The truth behind who pays for unemployment and the often-overlooked hidden costs may surprise you. While many believe individuals pay into a fund, HR and finance staff will tell you that it is employers, including nonprofits, who usually foot the bill*.
Donors often provide support to nonprofits in a way that responds to contemporary issues and the donor’s particular interests. Examples include a prohibition on spending principal or a requirement that the fund be used only for a specified program or within a given geographical area. Over time, such restrictions can make full use of the funds impracticable or impossible.
The fields of accounting and finance are undergoing a transformation driven by the rapid advancements in automation and artificial intelligence (AI). These technologies are not only streamlining processes and increasing efficiencies but also enabling business to gain deeper insights and engage in more strategic informed decision-making. But what does it all mean and how can it change the way we work? Let’s explore the current landscape of automation and AI in accounting and finance: the benefits, applications, and key challenges or considerations.