The Unique CPA Navigating Nonprofits and Fiscal Sponsorship
Dec 31, 2024
In this engaging discussion, Megan Tarnow, a nonprofit finance expert and QuickBooks specialist, dives deep into the world of fiscal sponsorships. She demystifies the difference between fiscal agency and sponsorship, sharing compelling examples to illustrate their implications. Learn about Ribbon, a platform that streamlines nonprofit administration, providing transparency and real-time insights. Megan also highlights the advantages of fiscal sponsorship over starting a new nonprofit, making it a practical choice for emerging projects.
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Create A Niche Peer Community
- Build a peer community for niche problems to get real-time help and camaraderie.
- Megan Tarnow grew a QuickBooks-for-nonprofits Facebook group to 11,000 engaged members for this reason.
Nonprofit Finance Is Often Accidental
- Many nonprofit finance people are "accidental" hires without formal accounting backgrounds.
- That creates high demand for practical how-to help, not just theoretical training.
Use Fiscal Sponsorship To Launch Projects
- Use fiscal sponsorship to let a project operate under an existing charity and accept tax-deductible donations.
- Ensure the sponsor maintains legal control of funds so donations remain deductible.
