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Does your Not-for-Profit have a clearly defined set of policies and procedures that govern your organization?
Not-for-profits are organizations that serve an altruistic purpose that benefits the public. Most organizations are governed by Executive Boards comprised of volunteers who may not have had prior governance or executive management experience.
How does a board with no experience successfully govern the operations of an organization? Documented internal control policies are the answer. This includes core accounting processes, financial standards, and roles and responsibilities that clarify the quality standards and expectations for the organization.
Accounting Policies & Procedures provide a new board or executive committee a framework to operate and govern from. It serves as a “check and balance” between new ideas and standard agreed-upon policies. This guide provides the Do’s and Don’ts that help an NFP remain financially responsible and socially accountable.
Is your organization following applicable laws? Third-party stakeholders such as insurance companies, internal revenue services, and auditors require not-for-profits to adhere to compliance standards to be in good standing. A well-documented and detailed manual can help you avoid scrutiny and controversy that can derail the impact of your organization.
Do you want to raise the profile of your NFP and attract more donors, members, and grantors? It starts with a written plan of execution and guidelines. An accounting policies and procedures manual provide a higher level of assurance and confidence that your NFP is appropriately carrying out its stewardship responsibility. This is how you build trust.
Do you need assistance with internal control implementation or accounting policies or procedures preparation? Put your trust in the W-2 Group and we will help you create a framework for success and remain compliant. Our licensed and seasoned non-profit accountants are here to get you started. We have prepared a template to help you get started. Simply enter your details below and download the Not-for-Profit Accounting Policies template. If you have any questions, please call 240-244-9813 or email firstname.lastname@example.org