Just like any business, nonprofits must comply with certain financial standards and laws. This section includes resources to help you produce and maintain accurate financial records and reports, and to maintain the financial accountability required for you to sustain your nonprofit organization. You will find information here on what you need to know about the financial guidelines, legal responsibilities, policies and procedures, and key tools for basic nonprofit accounting.
Unless your background is in finance, or you have significant experience in this area, you will want to either hire or contract for this expertise to ensure you can effectively manage your nonprofit’s finances.
For more information to help with your organization's policy development process, take a look at this page on Financial Management from the National Council of Nonprofits.