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February 6, 2018

Outputs vs. Outcomes: What’s the Difference and Why Does It Matter?

Donors want to know if their donations are impacting the work of your nonprofit through its mission. Increasingly, this means telling your story through numbers—something that nonprofits don’t always do well. Marc J. Epstein, co-author of the book, Measuring and Improving Social Impacts: A Guide for Nonprofits, Companies, and Impact Investors, says that “The need…

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How to Tell Your Nonprofit’s Story
How to Tell Your Nonprofit’s Story

How do you measure the success and impact of your nonprofit’s mission? Similarly, how do your donors—be they individual, foundations, or corporate—know if their donations are impacting the work of your nonprofit through its mission? Many nonprofits gauge their impact through statistics such as the number of people served, families fed or housed, or the…

From Servers to SaaS: Your Nonprofit’s Journey to the Cloud
January 30, 2018
From Servers to SaaS: Your Nonprofit’s Journey to the Cloud

At some point in your technology journey, you’ll have to decide whether to step up your investment in servers and other infrastructure upgrades—or seek a more cost-effective option. For many businesses and nonprofits, costs related to IT infrastructure, personnel, outside services, and other expenses necessary to keep your critical applications running can consume up to…

Cloud vs. Traditional Fund Accounting Software: Comparing the True Costs
January 17, 2018
Cloud vs. Traditional Fund Accounting Software: Comparing the True Costs

In the good old days, comparing the cost between different financial management solutions was fairly straightforward. They were built on similar technology platforms and were going to be deployed in roughly the same fashion. The only considerations were subtle differences in system requirements and pricing. The advent of subscription-based (SaaS) cloud applications for fund accounting…

Top 5 Myths about Fund Accounting in the Cloud
January 15, 2018
Top 5 Myths about Fund Accounting in the Cloud

In the mission-driven nonprofit world, fund accounting software can sometimes slip down the priority list. It’s not always easy to allocate budget dollars to back-office infrastructure that doesn’t directly support the nonprofit agenda and harder to find the time and expertise to make it all work. Some of the obstacles include: Capital investment for software…

Nonprofits in the Cloud: It’s More than Cost Savings
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…

Using Sage Intacct for Multiple Budget Reporting
October 3, 2017
Using Sage Intacct for Multiple Budget Reporting

Being 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…

Communication Service for the Deaf; A Sage Intacct Success Story
October 2, 2017
Communication Service for the Deaf; A Sage Intacct Success Story

Communication 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…

How to Set SMART Goals for a Successful #GivingTuesday
September 29, 2017
How to Set SMART Goals for a Successful #GivingTuesday

The 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…

TOP 10: Reasons You Should Automate Your Expense Report Process
September 5, 2017
TOP 10: Reasons You Should Automate Your Expense Report Process

If 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…

Customer Spotlight: The Jewish Federation of Greater Philadelphia
August 30, 2017
Customer Spotlight: The Jewish Federation of Greater Philadelphia

One 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…

Is Your Nonprofit ready for ASU 2016-14?
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…

Nonprofit IT: How to Get Your Finance Department to the Cloud
August 15, 2017
Nonprofit IT: How to Get Your Finance Department to the Cloud

If 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…

How Finance Can Support Traveling Nonprofit Employees
August 10, 2017
How Finance Can Support Traveling Nonprofit Employees

Running 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,…

Innovate 2017 Takeaways: The Effect of ASU 2016-14 on Nonprofit Finance Reporting
July 31, 2017
Innovate 2017 Takeaways: The Effect of ASU 2016-14 on Nonprofit Finance Reporting

John 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…

Paving the Way to Sustainability
July 27, 2017
Paving the Way to Sustainability

Through 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…

Find Your Return On Mission, (ROM)
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…