Anthere wrote:
I believe it is important to get a set accounts drawn including a balance sheet and statement of income and expenditure. Then have them audited by a chartered accountant. Because often when applying for grants they will request an audited set of accounts.
Richard (aka Popsracer)
Might you explain what you are thinking of, when you mention "a chartered accountant" ?
I think this means simply an accountant who is legally qualified to act as an accountant. Usually this is a "certified public accountant (CPA)" in the US, although there may be some special license for non-profits. Since we're chartered in Florida, someone with credentials to operate under Florida law is probably best. Basically, it's someone who has taken a set of tests and gotten a license that allows them to legally say "I have audited these accounts, and they are correct". Due especially to some relatively recent scandals, both in non-profits and in corporations, a lot of grant agencies in the US require officially audited account books these days, and that usually has to be done by an outside auditor (i.e. someone not affiliated with the organization, so a Wikipedian who is also an accountant wouldn't qualify) to make sure the money is being spent where the organization says it's being spent.
I think even if we did this, we'd still keep the books ourselves, and just submit them once per year to an outside auditor for a stamp of approval. I have no idea how much paying such a person would cost.
-Mark