January 5, 2018
Nonprofits in the Cloud: It’s More than Cost Savings
Moving your nonprofit financials to the cloud from an on-premises solution can significantly reduce your costs. There are other benefits you may not have considered, though—pluses that are just as beneficial as bottom-line savings. Your fund accounting becomes more efficient, compliance is easier, and you have a better view of your organization’s performance. A closer…
October 3, 2017
Using Sage Intacct for Multiple Budget ReportingBeing able to comply with FASB and funder guidelines for compliance reporting is a requirement for every nonprofit organization. To truly realize your nonprofit’s potential, you need the ability to plan, forecast, and deliver meaningful insight to the leaders of your organization. In this post, I’ll discuss, reporting strategies and tools every Intacct user can…
October 2, 2017
Communication Service for the Deaf; A Sage Intacct Success StoryCommunication Service for the Deaf (CSD) is a 501c nonprofit organization based in the United States and New Zealand, providing a plethora of services to the deaf. They recently worked with JMT Consulting Group to enhance their financial management solution by implementing Sage Intacct and Nexonia. We recently sat down with Brad Hermes, CFO and…
September 29, 2017
How to Set SMART Goals for a Successful #GivingTuesdayThe day of global giving, #GivingTuesday 2017, is coming up. And if you want your nonprofit to optimize the world’s biggest day of giving, it’s time to start planning. We’ve already addressed some facts, figures, and tips for your #GivingTuesday campaign. Now let’s drill down into what it takes to make that campaign a success…
September 5, 2017
TOP 10: Reasons You Should Automate Your Expense Report ProcessIf you are like most nonprofit organizations, your primary focus is to benefit society in a tangible way. But many nonprofits have considerable overhead costs when it comes to expense management and use manual processes. So why are so many organizations still using manual, paper-based processes to manage spend? Excel-based expense reports are often still…
August 30, 2017
Customer Spotlight: The Jewish Federation of Greater PhiladelphiaOne of the most rewarding elements of our job is being able to assist individuals and organizations that are making the world a better place on a daily basis. JMT Consulting has had the honor of working exclusively with nonprofits for more than 20 years. Each of these organizations has their fair share of incredible…
August 21, 2017
Is Your Nonprofit ready for ASU 2016-14?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…
August 15, 2017
Nonprofit IT: How to Get Your Finance Department to the CloudIf you’re an IT Director or CIO at a nonprofit organization, you may be experiencing something that sounds a little like this: In the last few years, you have moved a lot of systems from your internal network servers. Your Development department has migrated to a cloud-based donor management system like Salesforce. Your Program people…
August 10, 2017
How Finance Can Support Traveling Nonprofit EmployeesRunning a nonprofit means having meetings. And many of those meetings mean travel. Whether the purpose of the trip is to scout a new location, visit a major donor, or cementing a partnership with an affiliate, it’s important that traveling workers have what they need to make their journeys successful. According to current statistics,…
July 31, 2017
Innovate 2017 Takeaways: The Effect of ASU 2016-14 on Nonprofit Finance ReportingJohn Alfonso shared his extensive knowledge of the upcoming Accounting Standards Update (ASU) in what was one of the most informative and actionable sessions at Innovate this year. In his extremely detailed presentation, he outlined everything nonprofits need to know about the future reporting requirements. Though this post will provide a high-level overview of the…
July 27, 2017
Paving the Way to SustainabilityThrough Improved Grant Management for Community Action Agencies Community Action Agencies (CAA) are a special breed of nonprofit agencies. They are the primary source of direct support for the more than 34.5 million people living in poverty in the United States. Community Action Agencies and Head Start Programs serve more than 16 million individuals and…
July 25, 2017
Find Your Return On Mission, (ROM)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…
July 20, 2017
The #GivingTuesday Campaign Planning Timeline for NonprofitsExcited about launching a #GivingTuesday campaign for your nonprofit but don’t really know where to start? We speak with a lot of nonprofit organizations who have good intentions for #GivingTuesday campaigns but don’t see the outcomes they’d hoped for, largely due to lack of planning. Last year, #GivingTuesday campaigns raised $168 million online in addition…
July 12, 2017
Innovate 2017 Takeaways: Modern Finance – Moving Fast and Staying NimbleThomas Peff of Adaptive Insights had an excellent session at Innovate this year as he addressed common problems for nonprofits and demonstrated how Adaptive Insights’s application helps solve these challenges. We’ve provided an overview of the session so you don’t have to miss out on some on some of this great information! Who is Adaptive…
July 7, 2017
Innovate 2017 Takeaways: Connecting Data to Tell a Story of ImpactThis year, at Innovate, attendees saw some fascinating presentations by subject experts in a variety of fields and gained valuable insights to bring back to their respective organizations. Jeremy Aranda’s memorable session covered the importance of connecting data to mission — a subject that’s beneficial to all nonprofits. We’ve compiled an overview of the presentation…
June 28, 2017
How to Increase the Transparency of Your Nonprofit’s Financial ReportingFinancial Reporting Challenges for Nonprofits Most of the organizations we work with experience the same challenges. They’re dependent on manual processes, pulling data from unintegrated systems, and have almost no real visibility into their operations. If these issues sound familiar to your organization, you’re not alone. In fact, 70% of nonprofits struggle with at least…
June 20, 2017
What Happened at Innovate This Year?Innovate Conference Supports Nonprofit Mission Throughout the Year Recently, JMT Consulting hosted our annual customer conference Innovate 2017. Hundreds were in attendance to receive hands-on training for financial management solutions along with thought leadership sessions geared toward C-Level nonprofit financial executives. INNOVATE 2017 was kicked off at an open-air welcome reception at the Margaritaville restaurant…
