Faith-based, nonprofit & membership orgs
Books and taxes for community foundations.
Dozens of donor-advised funds, investment income from the endowment, a scholarship fund payout, and grant checks going out to a dozen local nonprofits at once. Your own bookkeeper keeps every fund straight, an accountant checks every transaction, and you get one number a month.
- From $197 a month
- An accountant on every transaction
- Cancel whenever
September came in at $18,200 after expenses. This quarter's investment income landed, and I kept it apart from new gifts so the endowment's growth is not confused with fresh donor contributions.
- Investment manager distributionInvestment income
- New donor-advised fund giftDonor-advised fund gifts
- Grant to Riverside Literacy CouncilCompetitive grants
- Scholarship disbursement, fall termScholarship funds
- Administrative fee retainedAdministrative fees
Why your books are different
A community foundation's books go wrong in the same recurring places.
A generalist sees one large investment account and one checkbook. Your foundation actually holds dozens of separate funds, each with its own donor intent, its own balance, and its own rules for who can recommend a grant from it. Miss that and no fund holder, and no grantee, can trust the number they are given.
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1
Donor-advised fund balances blur into one pool
A gift to one donor-advised fund and a gift to another both land in the same investment account, and without careful tracking, one fund holder's balance can be misstated because it was never kept apart from the others.
What we doKeeps each donor-advised fund's balance in its own record, so every fund holder's statement is accurate and the foundation can show exactly what each fund holds. -
2
Investment income gets mixed with new gifts
Growth and income the endowment earns from its investments looks the same as a fresh donor gift if both just show up as deposits, but they need different treatment since one is new money and the other is return on money already given.
What we doKeeps investment income in its own category, separate from new gifts, so growth and fresh giving are never confused with each other. -
3
Grant commitments get spent before they are approved
A multi-year grant commitment to a local nonprofit can get treated as fully spent the year it is approved, when really only part of it should go out that year, which misstates both years' numbers.
What we doTracks multi-year grant commitments against the year each installment is actually due, so spending matches when money should really go out. -
4
Board-designated funds look the same as donor-restricted funds
Money the board sets aside for a purpose is different from money a donor legally restricted for that purpose, and treated the same on the books, the foundation loses track of which funds it could redirect if priorities change and which it legally cannot.
What we doTags board-designated funds apart from donor-restricted funds, so the foundation always knows which dollars carry a legal restriction and which do not. -
5
The administrative fee gets buried inside fund balances
The fee the foundation retains for managing each fund is real income to the foundation, and if it is not pulled out and shown on its own, nobody can tell whether the fee structure actually covers what it costs to run the foundation.
What we doKeeps administrative fee income in its own line, so it is clear what the foundation earns for its work apart from the funds it holds for others.
Your categories
The categories Gus keeps for a community foundation.
Set up once for how funds, gifts, and grants move through the foundation. You never pick a category. He does, and an accountant checks it.
Money in
- Donor-advised fund giftsNew contributions into individual donor-advised funds.
- Investment incomeGrowth and returns earned on the endowment, kept apart from new gifts.
- Unrestricted giftsGeneral giving supporting the foundation's own operations.
- Scholarship fund giftsDonations designated specifically to fund scholarships.
Money out
- Competitive grantsGrants awarded through the foundation's own community grant cycle.
- Donor-advised fund grantsGrants recommended by individual fund holders.
- Scholarship disbursementsPayments made directly to schools on behalf of scholarship recipients.
- Administrative feesThe fee retained for managing funds, shown as the foundation's own income.
- Staff payrollProgram officers and administrative staff running the foundation.
- Investment manager feesFees paid to the firm managing the endowment portfolio.
- Grantee due diligenceCosts of reviewing and vetting grant applicants.
What we watch for you
- Fund balances by type
Donor-advised, board-designated, and restricted balances, kept apart so nothing gets confused.
- Grant payout rate
How much moved out to grantees against the size of the funds held, a number donors and the board both ask about.
- Administrative fee coverage
Whether fee income actually covers what it costs to run the foundation.
- Committed but unpaid grants
Multi-year grant commitments not yet due, so future obligations are never a surprise.
Ask Gus
Things foundation staff ask Gus.
Text him like you would text anybody. He answers in plain English, and when a question is above his pay grade, an accountant looks and gets back to you.
No. I track it as a commitment and only count each year's installment as it comes due, so this year's number reflects what is actually going out, not the whole three years at once.
Yes. Every donor-advised fund is tracked on its own, so pulling a current balance for one fund holder does not require sorting through everyone else's.
It is the foundation's own income once retained, and I keep it in its own line so you can see whether the fee structure is actually covering what it costs to run the foundation.
The tax side
The tax side of running a community foundation.
Most of what matters here is keeping fund types straight and tracking grant commitments against when money actually moves.
What your return has to get right
Your accountant signs it, so it gets done right the first time.
- Donor-advised fund rulesMoney in a donor-advised fund is legally the foundation's once given, with the donor only able to recommend, not direct, grants from it. The organization's own annual filing generally needs to reflect fund activity accurately, which depends on clean records all year.
- Excess business holdings and payout considerationsCommunity foundations generally operate under different rules than private foundations, but grant payout patterns and fund activity still matter for the annual filing. This is a detail worth the accountant's specific review given how varied foundation structures are.
- Worker classification for program staffA program officer or grants coordinator who works your schedule is an employee, not a contractor, even in a small foundation with just a few staff.
- Contractor 1099sAn outside grant reviewer, consultant, or investment advisor not on payroll who is paid $2,000 or more in 2026 gets a 1099-NEC by January 31.
Deductions community foundations miss
Your bookkeeper knows what to look for in your statements. You never have to.
- Investment manager fees
- Grantee site visit travel
- Fund administration software
- Scholarship application processing
- Board meeting and materials costs
- Liability and fiduciary insurance
- Grant review committee expenses
- Website and donor portal fees
- Audit and legal fees
- Postage for grant notifications
- Community needs assessment costs
- Professional development for staff
General information about 2026 federal rules, not advice for your business. Your accountant looks at your actual numbers before anything gets filed.
All year, not just April
A community foundation's year, kept every month.
Grant cycles and fund activity run on their own calendar, and the books track every fund through all of it. Every month in between, your bookkeeper closes the books and speaks up the moment something looks off.
- January
Reconcile fund balances
Last year's records are wrapped up, every donor-advised and restricted fund balance is confirmed, and the contractor 1099 list is finalized.
- April
Fund statements finalized
Whatever filing applies to the foundation is ready to hand off, with fund balances, grant commitments, and investment income already sorted for the year.
- July
Grant cycle halfway mark
Where the grant payout rate stands against fund balances at the year's midpoint, and how the endowment's investment income is tracking.
- October
Before the grant cycle closes
Many foundations run an annual competitive grant cycle in the fall. Gus looks at available payout capacity before award decisions are finalized.
What you get
What you pay depends on what your business needs, and it does not move after that, busy season or slow. No hourly bills, no surprise invoices, no setup fee.
Book a call- Monthly bookkeeping
Every transaction sorted into categories set up for community foundations. You never categorize a thing.
- An accountant checks every transaction
Real review, every month, before your books close. Not a spot check.
- Your business tax return, filed
Prepared, reviewed, and signed by that same accountant every year.
- The monthly number
What you made, what you spent, what to set aside for taxes.
- Your own bookkeeper
A real person assigned to your business, in the app whenever you need them. No hold music.
- On your books all year
Every month, not just in April. Your team speaks up whenever something is worth your attention.
- Cancel any time
No contract. No cancellation call. Your books are yours.
Straight answers
Questions foundation staff ask first.
Can Gus keep every donor-advised fund's balance separate?
Yes. Each fund is tracked on its own, so pulling a statement for one fund holder never requires sorting through the rest, and every balance stays accurate.
How do you handle a multi-year grant commitment?
It gets tracked as a commitment, with only each year's actual installment counted as spending for that year, so the numbers reflect what really moved, not the full pledge at once.
Does investment income get treated the same as new donor gifts?
No. Investment income is kept in its own category, separate from new gifts, so growth on the endowment and fresh giving are never confused.
Do you prepare our foundation's annual filing with the IRS?
No, preparing or filing the foundation's own return is outside this subscription. Every fund balance, grant commitment, and investment income line stays accurate and separated all year, so whoever handles that filing starts from real numbers, not a reconstruction project.
How is the administrative fee we retain from each fund handled?
It is recorded as the foundation's own income, kept apart from the fund balances themselves, so you can see whether the fee structure covers what it costs to run the foundation.
Our fund records have not been reconciled since our last bookkeeper left. Can you catch us up?
Yes. Send the bank and investment statements you have. Gus works through the backlog fund by fund, and most foundations know where they stand within a few weeks.
Is a real accountant checking my books?
Yes. You get your own bookkeeper, Gus does the first pass on every transaction, and an accountant checks every one before your month closes. That same accountant prepares, signs, and files your business return. Goatkeeper is not a CPA firm, and we never pretend a person looked when they did not.
What does it cost, and can I cancel?
It starts at $197 a month, depending on what your business needs. No setup fee, no hourly bills, no contract. Cancel any time from the app, and your books go with you.
More in faith-based, nonprofit & membership orgs
We keep books for the business next door too.
- Animal rescues & shelters
- Arts nonprofits
- Chambers of commerce
- Christian camps & retreat centers
- Church plants
- Food banks & pantries
- Fraternal lodges & clubs
- Homeowners & civic associations
- Ministries & mission organizations
- Nonprofit thrift stores
- Private family foundations
- Private social clubs
- Trade & industry associations
- Veterans organizations
- Youth sports nonprofits
- Charter schools
- Christian schools
- Small & mid-size churches
What makes a bookkeeper worth paying for Every business we keep books for
Book a call
Pick a time. That's the whole signup.
Fifteen minutes with a real person on our team. They look at where your books are, tell you straight what it takes to get caught up, and get you set up on the spot if it fits.
- $197 a month to start
- An accountant on every transaction
- Cancel whenever