So, You’re Interested in Bookkeeping for Nonprofits?
Thursday, September 21, 2023
9:10 AM - 10:25 AM
Many bookkeepers serve a couple of local nonprofits within their general practice. For a few of us, it’s a full-time niche! If you’re interested in developing this practice area, this session is for you. Nonprofits are a world unto themselves. As of 2019, there were over 170,000 across Canada, employing over 2.5 million people, and representing 8.7% of Canada’s GDP – bigger than agriculture or oil and gas! It can be a jungle out there. It pays to understand the key features of the sector as a guide to developing your client base. Indeed – the typical small charity is often more complex to serve than the typical small business! A tour of the sector will reveal: 10 key differences between commercial and nonprofit entities 3 key similarities and 7 key differences between registered charities and other nonprofits 3 designations for registered charities Key statistics on the size and composition of the sector To help you find your niche, we’ll explore subsectors by operating activity, and we’ll segment the sector in ways that will help you identify your ideal client, such as volunteer-run vs. staffed, operating board vs. governance board, founder-led vs. institutional, facility-based, unionized vs. non-unionized. As we go, we’ll discuss implications for being their bookkeeper! Finally, we’ll consider important questions to explore with your potential nonprofit client before you enter a bookkeeping relationship. At the end of the session you’ll be ready to enter this exciting and rewarding field!