Nonprofit Accounting Statistics

Nonprofit Accounting Statistics 2023: Facts about Nonprofit Accounting outlines the context of what’s happening in the tech world.

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Top Nonprofit Accounting Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 21 Nonprofit Accounting Statistics on this page 🙂

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Nonprofit Accounting “Latest” Statistics

• The next highest percentage of volunteer time was spent on administrative and support tasks, which accounted for 24.8% of all volunteer hours.^[1]
• Public charities made up almost three-quarters of all nonprofits that filed tax returns with the IRS at 59.7%.^[1]
• About 35% of organizations registered with the IRS had to submit a Form 990, Form 990-EZ, or Form 990-PF.^[1]
• Both revenue growth rates were much higher than the growth rate for companies providing human services, which was the lowest for any sector during that time period at 12.8%.^[1]
• Just under a third of all charitable donations—29.6%—were made to congregations and religious organizations in 2018, a lower percentage than the 32.2% they got in 2013.^[1]
• Public charities represented a greater percentage of the nonprofit sector at 69.7%.^[1]
• In comparison to 53.5%, these businesses represented a significantly smaller percentage of the whole sector at 50.7%.^[1]
• Human services, although more prevalent, accounted for comparably less money, with 17.3% of revenues coming from education organizations and 16.9% coming from costs.^[1]
• Education-related nonprofits earned the second-highest percentage of private charity gifts (13.9%), which is exactly the same percentage as all donations (13%).^[1]
• People who are economically disadvantaged directly benefit from 29% of Private Foundation financing.^[2]
• Around 80% of the money that school organizations utilize to offer extras for their schools comes from traditional product fundraising, which generates 3% of public charities’ yearly income, according to the IRS.^[2]
• 15% of organizations participate in traditional civic, social, and commercial activities, such as minor leagues, chambers of commerce, and fraternal groups.^[2]
• 63 million Americans, roughly 25% of adults give their time, skill, and effort to make a difference.^[2]
• Nearly 40% of all NGOs in the U.S. are churches, schools, and foundations, which dominate the nonprofit industry.^[2]
• 31% of global contributors support charities outside of their own countries.^[2]
• Americans who identify as Christians give 25% of their net income to the church on average.^[3]
• 63% of donors got updates on their crowdfunding project, whereas 12.6% of donors received updates.^[3]
• Credit card-accepting churches experienced a 32% increase in contributions.^[3]
• It’s difficult to generalize about the proportion of individuals that contribute, however in 2022, 77% of regular tithers gave 11% –20% more than baseline tithers at 10%.^[3]
• Non-religious persons also provide time and money to a variety of charity organizations, with 75% of those who don’t attend any kind of worship group still making at least one annual donation.^[3]
• Less than 6.0% of private employment in non-profit organizations was present in Texas, Alabama, and South Carolina.^[4]

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How Useful is Nonprofit Accounting

Nonprofit accounting allows organizations to track and report on their financial activities in a way that is both accurate and transparent. This is vital for maintaining the trust and confidence of donors, who need assurance that their contributions are being used in a responsible and effective manner. By providing a clear and comprehensive picture of an organization’s financial health, nonprofit accounting helps to foster accountability and build credibility.

Moreover, nonprofit accounting enables organizations to fulfill their legal obligations and regulatory requirements. Nonprofit organizations are subject to various reporting standards and guidelines that are designed to ensure compliance with tax laws, funding agreements, and accounting principles. Proper accounting practices help these organizations to navigate these complex rules and regulations, ultimately safeguarding their legal standing and reputation.

In addition, nonprofit accounting serves as a valuable tool for budgeting and financial planning. By accurately tracking revenues and expenses, organizations can make informed decisions about resource allocation, program development, and operational strategies. This is essential for maximizing efficiency and achieving organizational goals in a financially sustainable manner.

Furthermore, nonprofit accounting provides valuable insights into an organization’s performance and impact. By generating financial reports and statements, organizations can evaluate their progress towards achieving their mission and goals. This information is critical for assessing the effectiveness of programs and initiatives, identifying areas for improvement, and demonstrating the value of their work to stakeholders and the public.

Nonprofit accounting also supports strategic decision-making and risk management. By analyzing financial data, organizations can identify trends, anticipate challenges, and seize opportunities for growth and innovation. This financial intelligence enables organizations to make evidence-based decisions that drive organizational success and sustainability.

Ultimately, nonprofit accounting is essential for promoting financial transparency, accountability, and integrity within the nonprofit sector. It empowers organizations to meet their fiduciary responsibilities, enhance donor trust, comply with legal requirements, improve financial management, and demonstrate their impact. While it may not always grab headlines, nonprofit accounting is a cornerstone of good governance and effective stewardship in the nonprofit world. Organizations that prioritize and invest in strong accounting practices will be better positioned to thrive and make a meaningful difference in the communities they serve.

Reference

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1. urban – https://nccs.urban.org/publication/nonprofit-sector-brief-2019
2. 501c3 – https://www.501c3.org/50-nonprofit-facts-and-statistics/
3. aplos – https://www.aplos.com/academy/church-management/church-giving-statistics-what-does-the-research-say/
4. bls – https://www.bls.gov/opub/ted/2018/nonprofits-account-for-12-3-million-jobs-10-2-percent-of-private-sector-employment-in-2016.htm