Once Again: Can A Mission-Driven Nonprofit Be Blindsided?
March 10, 2015|By Tom Thornton
Strange to say, a nonprofit organization and Board can become too dedicated to its mission! Such overzealousness can cause them to overlook opportunities for strategic change. For example:
Nonprofit boards and their organizations offering mental heath counseling services are aware that new pharmaceutical therapies will certainly reduce the need for face-to-face counseling. They need to balance their current and long-term efforts to accommodate the progress that is being made in the pharmaceutical field.
Tom brings over 15 years of experience with software solutions for not-for-profit and public sector organizations as part of Micro Information Products, Sage and nFocus Software. Tom’s extensive industry and operational experience allow him to guide the overall execution of all aspects of JMT’s business including Marketing, Sales, Delivery and Support.
In addition to his experience in professional services, sales, and business development with software solutions, Tom was Director of Product Management for Sage Software, where he was responsible for new product development for all of their nonprofit accounting and fundraising solutions. Under Thornton’s leadership, Sage MIP Fund Accounting received three consecutive Campbell Awards recognizing MIP’s extremely high user satisfaction.
Nonprofits face risk on all sides. In a March 2016 report, Oliver Wyman and SeaChange Capital Partners list some of the difficult conditions under which nonprofits must operate. Among these are: Tackling society’s hardest problems Limited funding Increasing costs for services Recruiting and retention Ever-changing operating environment These experts conclude, “It is no surprise that…
For the first time in over 20 years, there will be considerable changes in the way nonprofit organizations are required to prepare and present financial statements. On August 18th, 2016, The Financial Accounting Standards Board (FASB) issued Accounting standards Update (ASU) 2016-14, Not-for-Profit Entities (Topic 958), Presentation of Financial Statements of Not-for-Profit Entities. The goal…
Like many of you, we too learned yesterday about the acquisition of Adaptive Insights Inc. by Workday Inc. Here at JMT, an event such as this is a reminder of the fluidity of the fast-paced world we live in today and of the importance for us to remain focused on JMT’s mission, to do all…
Nonprofit organizations face increased demands for services from their communities. But when it comes to internal needs, traditionally they have been tasked to minimize overhead costs. And unfortunately, the area that suffers the most is the investment in systems. This puts significant strain on their finance teams, as many now have corporate cards, shifting from…
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