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Nonprofits answer to funders and boards, which means fund accounting, grant tracking, and clear reporting are not optional. We keep your restricted and unrestricted funds straight and your books board and audit ready.
Clean books are the difference between running your nonprofits business on real numbers and running it on guesswork. We give you accurate, up to date bookkeeping and clear reporting, so every decision, from pricing to hiring to your next investment, rests on what is really happening in your business, not a rough estimate at year end.
Why it is different
Nonprofits track money by purpose, not just by account. Restricted and unrestricted funds, grants with their own rules, and the split between program and admin spending all have to be tracked precisely, because funders and the board are watching.
We handle fund accounting, track grants and restricted funds, allocate program versus admin costs, and produce board ready reports, so your organization stays accountable, transparent, and ready for an audit or Form 990.
What we handle
Restricted and unrestricted funds tracked separately.
Grants tracked against their requirements and spending.
Program versus admin costs allocated correctly.
Clear reports your board and funders can trust.
Donations and income recorded accurately.
Records kept ready for audit and Form 990.
Proven on Upwork
Since 2021, HOLO Bookkeeper has completed work for more than 1500 clients on Upwork and Fiverr, earning Top Rated status. Here is the kind of feedback nonprofits clients leave, and you can read the full portfolio and reviews yourself.
Set up proper fund accounting and grant tracking. Our board reports are finally clear and trusted.
Nonprofit Director · USA · Upwork ClientClean, compliant books and audit ready records for our organization. Excellent work.
Executive Director · USA · Upwork ClientSee the full Upwork portfolio and reviews → · Connect on LinkedIn →
How it works
Tell us about your business, your platforms, and where your books stand today.
We connect your accounts and tools with read only access wherever possible.
We build the right chart of accounts and catch up or clean up if needed.
Reconciled books and clear reports every month, plus automation where it helps.
Why choose HOLO Bookkeeper
You get the accuracy and dedicated attention of an in house bookkeeper, on demand, for only the work your nonprofits business needs, plus automation most in house hires never build.
QuickBooks ProAdvisor and Xero Certified Advisor with over 6 years and 1500+ clients.
You work with the person doing the work, with replies within 24 hours.
The same secure, certified process wherever your business is based.
We remove repetitive work with Excel, Sheets, and Python, so you pay for judgment.
Services and related industries
Related industries:
Free tools
Nonprofit fund accounting guide
Fund accounting is the way not-for-profit organizations keep their books. Instead of asking “did we make a profit?”, it asks “did we use each dollar for the purpose it was given?” Every donation, grant and expense is tagged to a fund, program or restriction, so you can show donors, grantors, auditors and the IRS exactly where the money went.
Under FASB’s nonprofit reporting standard (ASU 2016-14), a nonprofit’s net assets fall into two classes. Without donor restrictions is money the board can spend on any mission purpose. With donor restrictions is money a donor limited to a program, a time period, or kept in perpetuity as an endowment. When you meet the restriction, the funds are “released” to the unrestricted class. That release has to be recorded, or your statement of activities will be wrong.
Most tax-exempt organizations file an annual information return with the IRS. It is due on the 15th day of the 5th month after your fiscal year ends (May 15 for a calendar year). An organization that fails to file for three consecutive years automatically loses its tax-exempt status.
| Form | Who generally files it |
|---|---|
| Form 990-N (e-Postcard) | Gross receipts normally $50,000 or less |
| Form 990-EZ | Gross receipts under $200,000 and total assets under $500,000 |
| Form 990 | Gross receipts of $200,000 or more, or total assets of $500,000 or more |
| Form 990-PF | Private foundations, regardless of size |
Clean fund accounting throughout the year is what makes the 990 straightforward. Revenue by source, functional expenses and program accomplishments all come straight out of well-kept books.
Federal grants carry extra rules. A nonprofit that spends $1,000,000 or more in federal awards in a fiscal year (for fiscal years beginning on or after October 1, 2024) generally needs a Single Audit. In-kind donations, such as donated goods, space or professional services, are recorded at fair value and disclosed separately. Donors need a written acknowledgment for any single gift of $250 or more before they can deduct it.
For a longer walkthrough of setting up a nonprofit chart of accounts, read our nonprofit bookkeeping and fund accounting basics guide. If your books are behind before an audit or 990 deadline, see catch-up bookkeeping.
Figures and thresholds as of 2026. Confirm filing requirements with your tax preparer or the IRS.
Free nonprofit tool
Not sure whether you file the 990-N, 990-EZ or full 990? Use the free Form 990 finder or read which Form 990 to file.
Questions and answers
Yes. We track restricted and unrestricted funds separately, which is the core of nonprofit bookkeeping.
Yes. Grants are tracked against their requirements and spending so you stay compliant.
Yes. We allocate costs correctly so your reporting reflects how funds are used.
Yes. We keep records ready for audit and Form 990 preparation.
QuickBooks or Xero, set up for fund accounting, plus clear board reporting.
Usually within a few days. After a short consultation we scope the work, agree a clear price, and begin, starting with catch-up or cleanup first if your books need it.
Yes. We work with nonprofits businesses in all 50 states, fully remotely, with the same secure and certified process everywhere.
Fund accounting tracks money by purpose. Each donation, grant and expense is tied to a fund or restriction, so the organization can prove it spent restricted money only on what the donor or grantor allowed.
Unrestricted funds (net assets without donor restrictions) can be spent on any part of the mission. Restricted funds can only be spent on the purpose or time period the donor set, and they are released to unrestricted once that condition is met.
Generally, organizations with gross receipts normally of $50,000 or less file the 990-N e-Postcard. Those under $200,000 in gross receipts and $500,000 in total assets can file the 990-EZ. Larger organizations file the full Form 990.
Book a free 15 minute consultation and we will set up compliant, board ready nonprofit books.
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