Common Points of Confusion Between the Accounting and Development Teams
As our organizations grow, the number of donations and the number of financial transactions grow along with it. On top of that, the accounting function, if it hasn’t already, likely will move from cash basis to the more complex accrual basis. This growth leads to the need for specialization among staff and often a separation of the gift processing and bookkeeping functions. It is very appropriate and desirable for internal control purposes to have separate ...
AmazonSmile Closing on February 20: What Your Organization Should Do Now
Disappointingly to the broader nonprofit community, including many arts organizations, Amazon announced on January 18 that effective February 20, 2023, it is closing its AmazonSmile program. Established in 2013, the program had allowed Amazon users to designate a charity to receive 0.5% of the cost of their purchases. It had been a case study in establishing a “set it and forget it” ancillary revenue stream for charitable organizations. Supporters had only to pick their chosen ...
Are You Ready For Mastercard’s New Recurring Payment Rules?
Earlier this fall, Mastercard issued new rules for merchants processing recurring credit card charges on its network (essentially, merchants who process recurring charges to a Mastercard-branded credit card, regardless of the issuing bank). As originally announced, these new rules would have presented extra and potentially burdensome administrative work for small nonprofits, including arts organizations, that have recurring monthly donations (though enforcement for the recurring donation case was due to begin later than for other types ...
Thank you for the authoritative read on this issue. To me, being able to actually see the icon in the…