by pennextsteps | May 14, 2024 | Accounting for the Performing Arts, Bookkeeping with Quickbooks
What is a Chart of Accounts (COA)? Why is a Chart of Accounts (COA) important for your bookkeeping practices? A Chart of Accounts (COA) is a list of the accounts that an organization has identified for recording and allocating transactions in its general ledger....
by Pentacle-nextSteps | Apr 23, 2024 | Become a 501(c)3 Non-Profit in the Performing Arts, Choose A Structure
Difference Between Non-Profit and For-Profit Entities What is a Non-Profit Entity? A non-profit, not-for-profit, or NPO, is an organization that does not seek to earn profit for its owners. Rather, all of the money earned is used to keep the organization running and...
by Pentacle-nextSteps | Apr 23, 2024 | Become Fiscally Sponsored in the Performing Arts, Choose A Structure, Fiscal Sponsorship, What is Fiscal Sponsorship?
What is Fiscal Sponsorship? Definition of Fiscal Sponsorship in the Performing Arts Fiscal sponsorship is a relationship in which a nonprofit organization (the fiscal sponsor) agrees to accept and manage funds on behalf of another organization or individual project...
by Pentacle-nextSteps | Apr 23, 2024 | Choose a Fiscal Sponsor
Determining the Right Fiscal Sponsorship for You To get a fiscal sponsor, you will need to identify potential fiscal sponsors that align with your mission and work. Below are some things to consider. Research potential fiscal sponsorsLook for organizations with a...
by Pentacle-nextSteps | Apr 23, 2023 | Become Fiscally Sponsored in the Performing Arts, Choose a Fiscal Sponsor, Fiscal Sponsorship, Register & Apply
What Do I Need to Apply for Fiscal Sponsorship? The specific requirements for applying to different fiscal sponsorship programs will vary depending on the nonprofit that is offering fiscal sponsorship. There is no downside to contacting a prospective fiscal sponsor...