Learn the necessary steps to prepare for year-end reporting and ensure your organization is compliant with regulatory requirements.
Many nonprofit professionals in executive, fiscal, and development positions dread the end of their fiscal year. They are ill-prepared for audits, required regulatory filings, and preparing for the next fiscal year. Nonprofits are not exempt from the year-end requirements, both fiscal and calendar. If they are not prepared for their responsibilities at fiscal and calendar year-end, they could jeopardize their nonprofit status and the future sustainability of their organization. This presentation will provide the necessary steps to prepare for year-end reporting and ensure your organization is compliant with regulatory requirements, provide shareholders with meaningful financial information, and help with future fiscal year planning.
Learning Objectives
- You will be able to define the difference between fiscal year end reporting and calendar year end reporting.
- You will be able to identify the necessary reporting requirements at the end of your fiscal year.
- You will be able to discuss the importance of proper fiscal management for your nonprofit organization and how it provides proper tools for transparency, accountability, and stewardship of funds.
- You will be able to explain how to be better prepared for the next fiscal year fiscal and development management.
Agenda
Financial Reporting Requirements for Nonprofits
- Financial Management During the Year
- Preparing for Fiscal Year End
- Financial Statements Required at Year End
Calendar Year End Reporting
- Year End Reporting for Payroll
- Year End Reporting for Independent Contractors
- Year End Reporting for Donors
Fiscal Year End Reporting
- Audits - Compilations - Review
- IRS 990 and State Filings
- Grant Reporting
Fund Raising Year End Preparation
- Send Letters Soliciting Donations From Donors
- Evaluate Yearly Donations and Compare to Goals
- Send out Year-End Donor Statements
Preparing for Next Year
- Review Internal Controls and Procedures
- Prepare Budgets
- Evaluate Systems
Speakers
Joseph Scarano,
Araize- CEO of Araize, Inc., a software company whose sole focus is to provide cost-effective, comprehensive software management solutions to nonprofit organizations
- Has 10 years of experience as a CPA in a public accounting firm specializing in auditing and consulting nonprofits
- With 36 years of experience providing software solutions to nonprofits, Joe is dedicated to helping nonprofits be more accountable and more sustainable so they can better fulfill their mission
- Has presented at the North Carolina Association of CPAs’ annual conference on various topics related to nonprofit software, accounting, and systems
- B.S. degree in accounting, Fairfield University
Who Should Attend
This live webinar is designed for accountants, CPAs, executive directors, officers, board members, controllers, CFOs, and tax managers.
