Non-Profit Organizations

NON-PROFIT ORGANIZATIONS

Chartered Accountants for NON-PROFIT ORGANIZATIONS

Non-Profit Organizations

Non-Profit Organizations

Non-profit organizations impact communities and individuals by delivering services, providing advocacy, and building community. Behind the scenes, powerful missions, innovative programs, and passionate staff and volunteers are supported by financial activities and decisions. Healthy nonprofit organizations employ financial management practices that build stability and flexibility both today and in the
future.

Non-Profit Organizations

Non-profit leaders and managers must develop at least basic skills in financial management. Expecting others in the organization to manage finances is clearly asking for trouble. Basic skills in financial management start in the critical areas of cash management and bookkeeping, which should be done according to certain financial controls to ensure integrity in the bookkeeping process.manage your cost
structures – without sacrificing your potential for growth.

Because distributors hold inventory for varying lengths of time and finance costs impact profits, it is important to understand the different nuances of the wholesale business. Our team is composed of people from the wholesale distribution industry, and we employ that business knowledge to bring you proactive solutions to manage your business activities.

Steps to establish Non-Profit Organizations

Non-profit organizations in Egypt or charitable institutions work to contribute to solving some problems and providing community services, so you can establish a charitable organization through a number of steps:

  • Identify community needs: Research one of the community’s critical needs and the cause you want to contribute to addressing. 
  • Choosing and registering a name: The name should reflect the activity of the institution or the category served by the charity, and you must ensure the exclusivity of that name. 
  • Applying for tax exemption: Non-profit organizations mean that they do not bring them any financial benefits and are therefore exempt from taxes. 
  • Writing an action plan: Ministry of Social Solidarity Although the organization is a non-profit, you need to make an action plan to submit to you to determine the steps you need, the costs and the mechanism for achieving the goals.
  • Listing the non-profit organization: to be able to practice your service activity and receive donations. 
  • Building a volunteer team: to carry out the work of the institution, implement tasks and achieve its goals. 
  • Community Outreach: To seek support and assistance both in reaching out to the beneficiaries of the charity and to solicit sufficient donations to manage the Foundation.

We provide a full range of consulting services for Non-Profit organizations to help address your complex operational challenges

  • Financial Information

    Good information is provided by trained and respected staff and professionals.

  • Financial Responsibility

    Responsibility for making financial decisions and carrying out financial activities is shared throughout an organization. Responsibility needs to be supported with good information, frequent communication, and appropriate authority.

  • Operating Reserves

    Every nonprofit needs to have some cash in reserve in order to respond to an unexpected downturn or opportunity. Is there a golden number that every organization should maintain, and how can a nonprofit build reserves

  • Financial Integrity

    As public charities, nonprofits can expect to be held to a high standard of integrity and honesty in all financial activities. While policies, job descriptions, and internal controls help to maintain this integrity, they are built on the foundation of mission, values, and leadership.

  • Responding to Financial Problems

    Sometimes things go wrong – contracts are lost, fundraising plans flounder, and expenses skyrocket. Responding to financial problems requires strong leadership, good communication, creative planning, and decisive action.

  • Petty Cash

    You’ll have a lot of small, recurring expenses that you’ll need to pay right away, for example, to buy a computer power cord, stamps, etc. You’ll probably work from a petty cash fund. You might establish this fund by writing a check to your organization, and noting on the check that it goes to the “petty cash” fund. You’ll withdraw from the fund by filling out a voucher that describes who took the money, how much, for what and on what date.

  • Financial Statements

    Your cash flow statement depicts changes in your cash during the year. Your statement of financial position depicts the overall value of your organization at a given time (usually at the end of the year), including by reporting your total assets, subtracting your total liabilities and reporting the resulting net assets. Net assets are reported in terms of unrestricted, temporarily restricted and permanently restricted assets.

For any inquiries regarding the Financial Management guidance, Audit, Accounting,
Tax or Consultancy in the Non-Profit Organizations Industry please do not hesitate to
contact us by clicking the following button.