Non-Profits & Charities

Keep your finances as strong as your mission.

Non-profit organizations are held to a higher standard of financial accountability than almost any other type of business. Donors, grant-makers, boards, and regulators all need to see that funds are being used appropriately and that the organization is being run with integrity. That requires more than basic bookkeeping — it requires fund accounting, grant tracking, and reporting structures that reflect the unique way non-profits receive and spend money. PrecisionPenny understands those requirements and delivers books that meet them.

Fund Accounting — Money Tracked Where It's Supposed to Go

Unlike a regular business where all money flows into one general account, non-profits need to track funds separately based on donor restrictions and designated purposes. A grant for program delivery can't be used for administrative costs. A restricted donation for a specific initiative needs to be accounted for separately from unrestricted operating funds. We set up and maintain proper fund accounting so every dollar is tracked to its designated purpose.

–      Restricted vs. unrestricted fund tracking

–      Program, administrative, and fundraising expense allocation

–      Grant funds tracked separately from general operating revenue

–      Board-designated funds maintained and reported accurately

Grant Tracking and Reporting

Grants come with reporting requirements — and failing to meet them can jeopardize future funding. We track every grant separately, record expenses against each grant's budget, and produce the financial summaries you need for grant reports. Whether you're reporting to a government funder, a foundation, or a corporate sponsor, your numbers will always be ready when the deadline arrives.

Donation Recording and Donor Receipting

Every donation needs to be recorded accurately and receipted correctly to maintain your charitable status. We track all donations — cash, cheque, e-transfer, and online platforms — reconcile them against your donor management system, and make sure your receipting is compliant with CRA or IRS requirements. Clean donation records also give you the data you need to understand your donor base and plan fundraising campaigns.

CRA & IRS Compliance — Always Audit-Ready

Charitable organizations face unique compliance requirements — annual filings, public disclosure obligations, and the ever-present risk of charitable status review. Clean, well-organized books are your best protection. We maintain your records to the standard required for regulatory review at all times, so an audit or compliance inquiry never becomes a crisis.

Transparent Reporting for Your Board and Donors

Your board needs accurate financial statements to fulfill their governance obligations. Your donors deserve to see that their contributions are making an impact. We produce the clear, organized monthly and year-end financial reports that allow your leadership to make informed decisions and communicate credibly with everyone who supports your mission.

Ready to get started?

Book a free consultation. We work with registered charities, non-profit societies, community organizations, and foundations of all sizes.