The (Year) End Is Near: Are Your Finances Ready?

A few months remain until we call it quits for the calendar year, but for nonprofits, the calendar year and fiscal year are very different. June 30 marked the end of the fiscal year for many nonprofits, and it’s time to reconcile financial records, file federal documents by November 15 and look at budget needs and adjustments for the coming year. Successful future fundraising events and the life of your organization depend on your ability to manage your nonprofit’s donation software effectively, access key data in an organized fashion and process it for required tax forms.

The top six preparations for year-end finances

Form 990

Holiday fundraising season arrives shortly, so getting information for this form is critical to meet the filing deadline. Form 990 provides the public with a detailed look at your organization’s finances for the year. It explains where your revenue comes from as donations, grants and other contributions and expense allocations (salaries, benefits and other expenditures).

Grant forms

Federal grant package applications require time and attention to detail; this is another critical task to accomplish before the holidays approach. Grant applications often require extensive responses and fiscal information as part of the package; read the instructions and gather the fiscal data ahead of time to make completion faster and ensure meeting the grant application deadline.


Honest analysis is difficult when the year’s fundraising events don’t meet expectations, but it’s necessary to determine next year’s improvements, whether it’s cutting spending or better use of donation management software. More money for your charity’s mission means starting with the largest expenses and investigating ways to decrease costs.

Clean up your fundraising database

Clear the clutter from your donor tracking software and sort donors based on giving frequency. Contact those without a donation in the last two years and reach out by phone, email or text. Update their information if they moved, changed email or phone numbers. Remove them from your listing if there’s no response or no further interest.

Retain your current donors

Run a report showing which donors contributed last fiscal year, but not in the current fiscal year. Set up a fundraising event targeting this group, to remind them how important they are for the continued success of the organization and provide a fiscal tour-by-numbers that explains what their contributions meant to those you serve.

Why be part of the holiday rush when you can be first?

Don’t wait until October or November, when your donors are already spending their holiday funds. Get in now with a holiday-themed fundraising event. Tie your charity event to the holidays and give your donors a head start with their shopping: a wine and dine event featuring local restaurants and shops provides advertising for community businesses and a relaxed atmosphere for donors to eat, drink and buy gifts. Sell event tickets online offering discounts at participating merchants. The ticket sales benefit your organization, the discount benefits donors and the early holiday spending benefits businesses.

Our platform prepares your nonprofit for a foolproof year-end

Process Donation’s nonprofit software is your year-end financial assistant. All the work on our platform, from event registration and ticket sales to donation management, mobile fundraising and payment portal design, transitions smoothly to facilitate your fiscal reconciliation. Financial accounting is fast, thanks to easy integration with our platform. Contact us for more information and a free demonstration, and look forward to the end of this year and the start of the new year.

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