Effective Finance Practices

Financial Practices that Work

Nonprofits bear an obligation to be responsible stewards in managing the financial resources entrusted to them. This includes being able to produce reliable financial information, ensuring fiscal responsibility and building and maintaining public trust. What is the financial managment culture in your organization? How are choices made for the future? How is risk evaluated? Asking questions - and knowing the answers - is critical to achieving and maintaining effective financial practices.

Audit

Audit Committee Charter Template

Just a few easy steps from downloading this document to having an audit committee charter ready to go.

Audit vs. Financial Review
Preparing for an Audit - Internal Controls

Use this worksheet to help you put your thoughts together and answer questions that are commonly asked by auditors.

Checklist to Prepare for an Audit

Get this detailed checklist to help you prepare for an audit.

Effective Audit Committees

This guide from Nathan Wechsler & Company provides you with an overview of the common functions and responsibilities of an audit committee.

Audit Committee Checklist

Make sure your audit committee has this checklist in their toolbox.

Document Destruction and Retention Policy Sample

Adapt this template for use in your organization today.

Board Finance Role

10 Step Budgeting Checklist

Use this handy checklist to make sure you've covered all the bases in your budgeting plan.

WhistleBlower Protection Policy

Adapt this template for a whistleblower protection policy to meet your needs.

Charter Sample - Finance Committee

Get this sample finance committee charter which includes a clear list of differences between the responsibilities of the finance committee versus the audit committee.

Top Tips for Hiring the Right CFO

Bringing on a new senior manager is a high-stakes, time-consuming venture. Whether you are replacing an existing CFO, adding a part-time CFO, or bringing one on for the first time, these tips from the J. Edgar Group will help you find the right fit for your organization.

How to Know if You Need a CFO

How do you know if your organization is ready for a Chief Financial Officer? You may already have a bookkeeper, a tax accountant, even a controller and a finance team. So do you really need more horsepower in your finance department? The J. Edgar Group developed a few questions that can help determine if the time is right.

Audit vs. Financial Review
Assess Your Financial Strengths and Weaknesses

Use this worksheet to capture a snapshot of your nonprofit's financial strengths and weaknesses.

Organization Dashboard Sample

An organization dashboard is a great way to organize financial information to present to your board and management team.

Preventing Fraud

Fraud in nonprofits makes for sensational headlines and rattles public confidence in the organization. These tips will help make sure you have all the safeguards in place.

Financial Questions Boards Should Ask

Use this list of financial questions as a guide to meeting your duty of financial oversight.

Fiscal Sponsorship

Fiscal Sponsorship Basics

This handout reviews the basic concepts of fiscal sponsorship.

Fiscal Agent Agreement Sample

Adapt this sample of a fiscal agent agreement sample for your own use.

Form 990

Form 990 Basics

Basic information about the various versions on the IRS Form 990 and when to file.

Executive Review Guidelines for the Form 990

This guide from Nathan Wechsler & Company is designed for the executive(s) and board members charged with reviewing the annual IRS Form 990.

Board Member's Review of Form 990

This table is designed to help board members effectively review the 990 and to consider the organization's policies and potential benefits of changes to those policies.

IRS Governance Checklist

Part VI of the Form 990 asks a variety of questions covering the best practices in areas of governance and policy disclosures. The IRS has shared findings from their collection of data in this section. Nathan Weschler & Company have shared an article on this information.

Policies and Procedures

Audit Committee Charter Template

Just a few easy steps from downloading this document to having an audit committee charter ready to go.

WhistleBlower Protection Policy

Adapt this template for a whistleblower protection policy to meet your needs.

Charter Sample - Finance Committee

Get this sample finance committee charter which includes a clear list of differences between the responsibilities of the finance committee versus the audit committee.

Financial Statement Sample

This Excel spreadsheet can be used as a template for creating your financial statement.

Cost Allocations

Nathan Wechsler & Company share this document about the focus on nonprofit cost allocations.

Document Destruction and Retention Policy Sample

Adapt this template for use in your organization today.

Fiscal Policy Sample

Use this sample policy as a starting point for finalizing your own.

 

Unprecedented Collaboration

Nearly 20 foundations and corporations have invested in building the capacity of NH nonprofits through their support of this project.

Learn more about the collaborators

 

The Go Factor

In the triad of "ready, set, go" NonprofitNext is the "Go Factor." Tools that you find here allow you to quickly move into action by downloading a resource that you can use today - A checklist or resource to bring to your next board meeting.

 

Want to Share?

Do you have a template or a sample that could save time for your peers in the sector? Help us build the most robust, extensive set of resources available. Send your content and your ideas to nonprofitnext@nhnonprofits.org

 

Can't Find It?

Can't find what you're looking for? Try the search function at the top of each page. Still can't find it? Let us know what you're looking for. Email help@nhnonprofits.org or call 603 225-1947.


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