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Navigating Nonprofit Finances with Rolanda McDuffie
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In this episode of Agents of Nonprofit, we're with Rolanda McDuffie, a seasoned CPA specializing in nonprofit accounting. Rolanda shares her 25-year journey from a church volunteer to running her own CPA firm, dedicated to helping nonprofits achieve financial health and compliance. We delve into the intricacies of nonprofit accounting, the importance of audit readiness, the challenges of grant management, and the transformative impact of technology and AI in the sector.
Topics We Cover:
- The critical aspects of financial management in the nonprofit sector
- How accurate financial records, strong internal controls, and compliance with grant terms can make or break a nonprofit
- The differences between nonprofit and for-profit accounting, the importance of a knowledgeable board, and how technology can streamline financial processes
- Key differences between nonprofit and for-profit accounting
- The importance of accurate and comprehensive financial records
- Ensuring audit readiness: Best practices and common pitfalls
- Challenges and strategies in grant management
To Learn More and Connect with Ronda:
Book: Creating a Successful Nonprofit by Knowing the Numbers
Rolanda S. McDuffie, CPA Website
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