According to recent studies, the number of Not-For-Profit (NFP) organizations in the U.S. have doubled within the last 20 years and now number over two million if counting all types of NFP organizations including religious institutions. The NFP sector employs over 10 million workers and exceeds 10% of the total employment in the United States. By some estimates, the NFP workforce is the third largest of all U.S. industries behind retail trade and manufacturing.
And as the numbers have grown so have the rules, regulations and laws that NFPs must comply with, especially in the areas of accounting, financial management and regulatory reporting. Unfortunately, there is a shortage of technical training and easily accessible information to assist those who are responsible for complying with all of these requirements.
The Center for Not-For-Profit Accounting and Financial Management (CNAFM) has been created to fill this gap and help all the staff accountants, auditors, financial advisers, officers, board directors, managers and anyone else who is involved or is interested in the management, oversight, financial affairs and reporting requirements of NFP organizations.
This website contains technical guidance in the form of videos, articles, links to websites and downloadable forms to demystify the complex requirements the NFPs must follow and help you understand what needs to be done. It also provides details about unique certificate programs and courses in NFP Bookkeeping, Accounting and Reporting currently being offered at Fordham University. And for those who have specific financial and reporting questions, the Forum page is a useful tool for the exchanging of ideas and information.
As anyone who runs a business knows the heart of every financial reporting system is having qualified bookkeeping and accounting staff. However, it is not always easy to find a qualified person, and conversely, not always easy for a qualified bookkeeper or accountant to find an organization looking for someone with their specific knowledge or experience. To assist with matching up qualified NFP bookkeepers and accountants to organizations with open positions we encourage you visit our PEN (Professional Exchange Network) page which provides information on bookkeepers, accountants and open positions.
Lastly, in the Vendor section you will find a list of vendors who understand that NFPs are different from commercial businesses and are in business to service the unique needs of NFP organizations.
We hope you find this website informative and useful.
CNAFM Advisory Board