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Author Archive for: ‘Charles P Myrick CPA’

Posted by: Charles P Myrick CPA Posted on: Dec 26 2019

Cash Flow Helps Nonprofits Thrive on Limited Resources

In my work with nonprofits I see that any organization without a substantial base of operating cash can experience cash flow problems. Small to mid-size nonprofits are often localized in an area without a large number of resources to draw from. The most important way to make the most of the resources your nonprofit has is to manage your cash flow.

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Posted by: Charles P Myrick CPA Posted on: Dec 05 2019

Successful Nonprofits Know That All Funds Are Not Equal

During this "giving season" many nonprofit organizations participate in fund raising activities. When I talk with nonprofit financial leaders, I emphasize the importance of strategically seeking appropriate funds. Why? Not all revenue sources are relevant to the mission  - some actually add cost to the programs. 

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Posted by: Charles P Myrick CPA Posted on: Sep 26 2019

Can You Lead a Successful Nonprofit?

In my work with nonprofit organizations, I see how critical their work is for the health of a community. I am also aware that many struggle with financial challenges. Successful nonprofits tend to have leaders that know how to maximize financial resources. They use concrete strategies to do so.

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Posted by: Charles P Myrick CPA Posted on: Jul 23 2019

Can Your Nonprofit Benefit From a Cash Flow Projection?

When I work with nonprofit leaders, I hear about the challenges they face with cash flow. Nonprofits have historically faced a unique funding situation due to the variability of grant funding cycles and donor contributions. I recommend a tool – cash flow projection – that can help organizations maintain financial viability today and in the future.

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Posted by: Charles P Myrick CPA Posted on: Apr 02 2019

Nonprofits Have Unique Needs for Cash Flow Management

In my work with nonprofits I see that any organization without a substantial base of operating cash can experience cash flow problems. What causes them? There are many factors unique to the nonprofit business model, such as seasonal fundraising, annual grant payments, and reimbursement-based contracts. I advise nonprofit leaders to focus on the organization's cash flow. 

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Posted by: Charles P Myrick CPA Posted on: Sep 05 2018

How to Lead Your Nonprofit to Financial Success

Nonprofits address critical needs in the community. They promote awareness of issues, provide services that might otherwise be unmet, and can organize a community to make a difference. Unfortunately, nonprofits also tend to struggle with financial challenges. Successful nonprofit leaders, use concrete strategies to maximize financial resources.

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Posted by: Charles P Myrick CPA Posted on: May 10 2018

Cash Flow is the Fiscal Priority for Nonprofit Success

Any nonprofit that lacks a substantial base of operating cash can experience cash flow problems. What causes them? There are many factors unique to the nonprofit business model, such as seasonal fundraising, annual grant payments, and reimbursement-based contracts. Nonprofit leaders need knowledge of how the organization's cash flows, and what to do if it doesn't.

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Posted by: Charles P Myrick CPA Posted on: Mar 27 2018

Why Nonprofits Are Strengthened by Updating Policies

Is it necessary for nonprofit organizations to examine their policies every year? Changes that impact the organization, both internal and external, recommend an annual policy review.  Here are three types of changes that nonprofit boards should monitor.

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Posted by: Charles P Myrick CPA Posted on: Nov 29 2017

What Are the Tax Filing Requirements for Nonprofits?

If you're an officer or on the board of a nonprofit organization, you may wonder about the tax requirements that apply to your group. Generally, an organization will not owe taxes if two things are true:
  •  It has registered as an exempt nonprofit organization with the IRS, and
  • It has no business income from activities unrelated to its exempt purpose.
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