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You’re running a homeschool group, co-op, or resource center because you believe in families educating their children, but what about the tasks of budgeting, reporting, and funding? We want to see your homeschool thrive by making Fundamentals of Financial Management training accessible to you! Let us help you navigate the world of running a non-profit to help you do what you do best: educate young hearts and minds!
In this 2-part virtual course, we will explore funding sources, tuition setting, budgeting, managing funds, paying workers, tax-exemption, and more.Herzog Foundation is joined by coach, Carol Topp, to make high-quality business and financial training available to homeschool leaders across the country.
Topics we’ll cover together:
Part 1 on March 24, 2025
Funding Sources
1. Types of homeschool groups
2. Setting tuition and discounts
3. Donations
4. Fundraisers
5. Grants
Budgeting
1. Chart of Accounts
2. Creating a budget
Financial Reports for Homeschool Groups
1. Profit and Loss or Statement of Activities
2. Balance Sheet or Statement of Financial Position
3. Helping your board understand a financial report
Part 2 on March 31, 2025
Financial Practices
1. Record keeping
2. Reimbursements and Accountable plans
3. Collecting early deposits for next year
4. Fundraisers
5. Thanking volunteers
6. Paying workers as employees or independent contractors
Preventing Fraud
IRS and State Reporting
1. Tax exempt status
2. Maintaining tax exempt status
3. Annual reports to your state