One of my favorite TV commercials is the Trident Layers gum commercial where everyone gets paid in gum…except the guy at the end of the commercial. “No one ever pays me in gum.” Awe, poor guy. Of course, we know that would never fly in the real world. Our society depends on making money in order to survive. So sadly, no one gets to work for only gum. But an interesting question might be, “What is compensation like at nonprofit institutions?”
According to simplyhired.com the average annual salary for a nonprofit accountant is $42,000. In the nonprofit business world this salary is closest to that of a staff accountant which is $41, 000 according to simplyhired.com. But it is $6000 less than the average accountant working for a for profit firm. You can view those statistics and more information on current accounting salaries here.
These statistics are not really surprising. Hopefully the majority of the funds of a nonprofit are going to helping people. If you are getting into accounting for the paycheck, then nonprofit accounting may be slightly disappointing. For me accounting is simply something that I love to do, and I would like to be involved in a ministry. If I was able to be an accountant and work for a nonprofit institution that shares my values I would love it. It would be peaceful finding something that is so well fitting.
It can be hard to combine such a worldly occupation with something like ministry, but if that is what you are looking for too nonprofit accounting may be for you. As you have seen here, you could live that dream and be able to make a living.