In addition, the following information should be added to the form by the organization making the payment:

1. The amount of the wire.
2. The date the transfer takes place.
3. The initials of the person making the transfer.
4. The initials of the person(s) authorizing the transfer.

What is scenario planning for nonprofits?

Scenario thinking is particularly well suited for nonprofits that: do work that is highly dependent on multiple actors inside and outside the sector; address interdependent and complex issues; have a clear interest in external trends; and feel a responsibility to address diverse points of view.

What are internal controls for nonprofits?

“Internal controls” are financial management practices that are systematically used to prevent misuse and misappropriation of assets, such as occur through theft or embezzlement.

What is the difference between contingency planning and scenario planning?

Scenario planning usually anticipates gradual change, such as a loss of revenue over time. Contingency planning is for a sudden, drastic turn of events.

Who is supposed to sign a check for a nonprofit organization?

The signer should be someone other than the person writing the checks. The checks should then be mailed. A copy of the check should be attached to the invoice and filed by the administrator. As an alternative, the check number can be written on the invoice.

Who is the person who writes the checks?

If a computerized system is used, the check writing should be automated. If a manual check is written, an entry should be made into the accounting system (general ledger). The unsigned check and the supporting documentation should be given to the check signer (manager). The signer should be someone other than the person writing the checks.

Who is responsible for writing a check for a conference?

For example, an invoice for supplies for the conference should have a notation to that effect on the invoice. The person who authorized the purchase or service should approve the invoice in writing, preferably on the invoice. The check should be written by the administrator.

Who is supposed to sign a manual check?

If a manual check is written, an entry should be made into the accounting system (general ledger). The unsigned check and the supporting documentation should be given to the check signer (manager). The signer should be someone other than the person writing the checks. The checks should then be mailed.