1.5 CPE Unlike for-profit businesses that exist to generate profits for their owners, nonprofit organizations exist to pursue missions that address the needs of society. Nonprofit organizations serve in a variety of sectors, such as religious, education, health, social services, commerce, amateur sports clubs, and the arts. Nonprofits do not have commercial owners and must rely on funds from contributions, membership dues, program revenues, fundraising events, public and private grants, and investment income.
Not-for-profits have unique needs. Concepts such as accounting for public funding, donations, and other sources of revenue and expenditures can present different challenges than in for profit organizations.
This course focuses on specific aspects integral to the introduction of accounting for non-profits, including establishing a chart of accounts and exploring the types of revenue that a typical not-for profit organization obtains and how that revenue is accounted for.
Learning Objectives
- Explore the concepts behind the chart of accounts for a non-profit.
- Identify accounting principles and basic guidelines in a non-profit.
- Explore how accounting principles impact non-profit guidelines.
- Explore funding of a not-for profit including:
- Grants
- Contributions
- Membership
- Explore how to account for and value donated services.
- Identify concepts of the middle man.
Last updated/reviewed: March 20, 2024
Included In Certifications
This course is included in the following Certification Programs:
15 CoursesNot-For-Profit and Small Business Entities Certification
- Introduction to Not-for-Profit Entities
- Introduction to Accounting for Not-For-Profit Entities
- Identifying and Implementing the Proper Balance of Internal Controls
- Segregation of Duties for Core Business Processes
- Bookkeeping: Journals, Subsidiary Ledgers and General Ledger
- Bookkeeping: Payroll And Expenses
- Bookkeeping: Accounts Payable/Accounts Receivable And Receipts
- Effectively Managing and Controlling Travel and Entertainment (T&E) Expenses
- Management Internal Control Essentials
- Financial Statement Essentials for Not-for-Profits
- Not-for-Profit Financial Statements Part 2
- Not for Profit Financials - Focus on Net Assets
- Cyber Risk in Small-Medium Entities
- Fraud in Small-Medium Entities
- Not-For-Profit Accountability and Responsibility
71 Reviews (235 ratings)
Reviews
Anonymous
(VP, WFM and BusTech)
This course provided a great overview of an area I'm less familiar with working in the private sector. Nonetheless, I learned several new concepts that will help round out my personal knowledge in this arena. The facilitator was effective in presenting key concepts and the supporting materials were exceedingly helpful.
Anonymous
(Bookkeeper)
This is a very HIGH-level overview. I felt like too much time was spent on the Chart of Accounts segment. I would have rather seen more time spent on the other segments like memberships & exchange transactions. The section on middlemen I found very confusing. It would have been helpful to have a real-life example.
Anonymous
(Owner)
A nice intro into NFP accounting. The course touches on multiple topics, but most from a high or summary level. Would recommend this for individuals who are looking to learn the basics. A more in-depth course would be recommended for those who already have some foundational knowledge of NFPs.
Anonymous
(N/A)
This course is a good overall introduction to the accounting used in not-for profits. The instructor did a good job of explaining the various concepts and providing examples of those concepts. I definitely recommend this course to anyone interested in the basics of not-for profit accounting.
Kirk Valencia
(Business Administrator at Denver Church of Christ)
The examples given on how to account and classify a contribution as a donation or exchange was beneficial. However, a more thorough example(s) on how to differentiate between accounting restricted funds between deferral and restricted methods would have been helpful.
Rene Anglo
(Administrative Clerk at EBMUD)
The course is extremely helpful and comprehensive, especially for those who work in the nonprofit sector. The instructor explains in details the concepts of GAAP, chart of accounts, and the different terms used in nonprofit entities, with great examples.
Anonymous
(-)
An excellent introduction to non-profit accounting presented by Lynn Fountain. The course is well-organized and moves at an appropriate pace. Key concepts are emphasized and critical differences to for-Profit concerns are addressed.
Anonymous
(CPA)
The course was a good overview for beginners and review for more experienced practitioners. Instructor was engaging. Since rules have changed since 2018, would like to see this course updated for current rules.
Anonymous
(Owner)
Needed this general overview as I'm looking at a not for profit job opportunity....been a lot of years since doing this type of accounting. Good fundamental reminder of the basic with this course
Anonymous
(Director Net Revenue)
Some of the distinctions seemed a bit arbitrary. Material was a bit rushed as well. Shorter slides would have been more effective. Instructor was pretty easy to follow though.
Anonymous
(Accounting Manager)
A good pre-courser to accounting for not-for-profit companies. It discusses the peculiarities of NFP companies as compared to profit. It is structured and easy to follow.
WENDY WALLER
(CONTROLLER at United World Mission)
Good examples were given in the course. Instructor was very knowledgeable. I would recommend this course to someone that wants an overview of nonprofit accounting.
Louis Betts
(Financial Operations at AugeoBPM)
This course was an excellent introduction to non profit accounting. I've recently gained a non-profit client and this has given me solid groundwork to build from.
Anonymous
(Retired)
Course was excellent. Was kept at the appropriate level of detail. Instructor knew the subject area very well and made a clear and effective presentation.
Natalia Lippold
(Certified Payroll Professional at Trivantus, Inc.)
This was my first introduction to accounting for nonprofits. I found it very interesting and easy to follow. The examples were very helpful. Thank you.
Neal Stiles
(Accounting & Finance Guy at Contractor)
More frequent usage of actual accounting (debit and credit) would be helpful - for example, show the transactions for the middle man example.
Anonymous
(Senior Internal Auditor)
This course was super helpful to understanding Not-For-Profit accounting. The instructor was effective in presenting the course materials.
Anonymous
(New Economy Team Member)
Would have loved a bit more insight into the journal entries needed to recorded contributions under both deferral and restricted methods
Anonymous
(Accountant)
Got a bit mixed up in the discussion of restricted and deferral methods of recognizing revenue, but after a few repeats, it made sense.
Anonymous
(Accountant)
Great course. Found it to be very useful and also used as a refresher course in accounting when dealing with not for profit companies.
Anonymous
(Audit Manager)
Easy to use, information was relevant to my employment. I would recommend this course to anyone who is in need of continuing education
Anonymous
(cpa)
Very good, structured introduction to guiding principles of NFP entity accounting. Another excellent presentation from Ms. Fountain.
Anonymous
(Chief Executive Officer)
Exactly as advertised, an introduction to NFP accouinting. As a new board member of an NFP, I found this very helpful. Thank you.
Susan Cypert
(Accounting Position at Currently Seeking)
I enjoyed all of Lynn's courses. She gets straight to the point and offer examples that is easily relatable to the information.
Sealtiel Alvarez Sanchez
(Shared Service Center Manager at Aliaxis)
Very different from the profit organizations!!! Interesting analyzis on specifics for non profit organizations! Recommended!
Sulaiman Onibudo
(Sr. mgr. Finance at Coca-Cola)
very good course I plan to take the others. This course did not wastem my time was concise and to the point but informative
Anonymous
()
This was a good course that covered all the basics that I needed. There are good examples within the course that help too.
Anonymous
()
The first half of the course seemed unnecessary, going over whether assets and liabilities were debit or credit accounts.
Scott Anderton
(CFO at HCA)
Took this course to refresh myself for service on a non-profit board. Found it to be a good refresher of terminology.
Amy Arens
(CPA at Amy Arens CPA)
Good overview of accounting for not-for-profit entities. The wording on some of the test questions was confusing.
Steven Lawrence
(- at -)
This course explains the basics of NFP accounting from the ground up, not just the differences between NFP and FP.
Michael Muchortow
(CPA at Muchortow & Associates)
Material was explained in a manner that was easy to understand and utilized good examples to reinforce the theory.
Shamina Lavingia
(Accountant at Shamina lavingia)
It is a good course to gain an understanding of the Not for Profit entities. The instructor is clear and detailed.
Jennifer Miller
(Senior Accountant at Bookminders)
This didn't cover some really basic items like a full set of financials for a non-profit. It should be included.
Anonymous
(Finance Director)
Course was interesting and seems to have covered the main differences in accounting for non profit entities.
Anonymous
(Senior Payroll Specialist)
Good information for non-profit accounting. Instructor does a good job of making information understandable.
Anonymous
(Payroll Analyst)
This is good course for those in the not for profit accounting segment, it has a lot of useful information.
Anonymous
(Experienced Manager)
Whether you have an accounting background or not, this course is a great primer for non-profit accounting.
Anonymous
(VP of Payoll)
This trainer is my favorite trainer. She is very good at explaining things in a way that I can understand.
Anna Poselenova
( at Junior's)
This a well structured overview of accounting for non-profit entities, instructor was effective and clear.
Anonymous
(CFO)
great course for those not familiar with non profit accounting --instructor is very organized and clear
Anonymous
()
Great introduction to non-profit accounting. The instructor is always clear and easy to understand.
I think this course gives a great understanding of how accounting should be handled for a non-profit.
Anonymous
(Principal)
good introduction to non-profit accounting; very helpful for someone new to non-profit accounting
Anonymous
(Agent)
The course was very helpful in understanding the proper accounting of not-for-profit entities.
Anonymous
(Finance Manager)
Good overview of non profit accounting which provides many examples to drive home the concept.
Judith Poli
(Payroll Manager at Odyssey Systems Consulting)
Excellent instructor, great slides, very good overvirew of the subject with lots of details.
Sheryl Powell
(Senior Payroll Associate at CRH Americas Materials)
Good overview of not-for-profit accounting and the structure of a non-for-profit entity.
Anonymous
()
good overview course illustrating in detail a sample chart of accounts for a nonprofit
Anonymous
(Consultant)
I always find this instructor's courses useful. I really enjoy taking her classes
Michael Haddon
(Contract specialist at Defense Contract management agency)
I am getting into nonprofit accounting this was a great refresher to start out with
Tyler Ellens
(Staff Acountant at Evenhouse & Co. P.C.)
Good overview and provides examples of each topic that help to put it in perspective
Anonymous
(Client Service Executive)
The course is a good training course as a starter in learning nonprofits. Thank you!
Anonymous
(Chief Financial Officer)
Instructor is very good and makes the material easy to follow and understand.
Michael Izzo
(Sr Financial Reporting Analyst at Catholic Health Initiatives)
Good review course on non profit accounting. Will refer back to this often
Anonymous
()
Very educational, I like your styple of explaining things. Thanks so much!
Anonymous
(-)
This course is a helpful overview of some non-profit accounting concepts.
Angela Tanous
(Director of Accounting at Christus Health)
Content was informational and course was easy to follow. Would recommend.
Anonymous
()
Very good overview of the basics regarding accounting for Not for Profits.
Anonymous
()
Interesting class learned a lot. I can use it for non-profit accounting.
Anonymous
(Controller)
Another excellent review into the accounting aspects of a not for profit
Kathy Bennett
(Owner at KB Consulting LLC (Maine))
Good over introduction to the basic accounting concepts for non-profits.
Anonymous
(Partner)
Course was good but some of the terminology seemed to be very dated.
Margaret Mueller
(Retired Controller at Self-employed)
Good summary of basic principles governing accounting for non-profits
Anonymous
(CFO)
Good intro course for NPO's. I recommend for those getting started.
Anonymous
(Business Planning Analyst)
She is very very good and I love her ability to convey information
Lalaine Oar
(CPA at Gunvor USA)
It would be helpful in some areas to supply the journal entry.
Anonymous
(Auditor)
Information shared was average.. but very straight fowarfd
David Evans
(Owner at David J Evans LLC)
Informative introduction course for non-profit accounting.
Anonymous
(Director of Accounting)
Good overview of the general accounting for non-profits.
Anonymous
(Audit Manager)
Informative course for NPO auditors. Thank you so much
Prerequisites
Course Complexity: Foundational
No Advanced Preparation or Prerequisites are needed for this course. However, it is recommended to take the other courses in the series prior to completing this one.
Education Provider Information
Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA
95113
Contact:
For more information regarding this course, including complaint and
cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to
.
Lynn FountainCPA, CGMA, CRMA, MBA, cPIA, Consultant, Author, Trainer
About Illumeo
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