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Nonprofit organizations must constantly demonstrate where it receives from, where those funds go and what percentage is used for charitable work. While no official requirements for a nonprofit audit exist, most organizations require audits in their bylaws. The annual audit is an essential component for closing the fiscal year and showing that the nonprofit spent the donated money according to the mission of the organization.
Scrutiny of non-profit organizations’ business practices and financial information by United States monitoring organizations has increased since the early 2000s. A non-profit board of directors and administrative team can make their organization shine by becoming more prepared
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