March 22, 2023

They say old habits die hard, but the pace of technological innovations may be giving them a run for their money. Technology is completely revolutionizing the way we think, the way we live, and the way we work, with new advancements emerging nearly every day. Artificial Intelligence, for one, is taking the 21st century by…

October 17, 2022

JMT Consulting partners with iLeasePro to provide a cloud-based lease accounting and management technology solution to nonprofits Nashville, TN: JMT Consulting today announced a new partnership with iLeasePro. This new partnership will give JMT’s clients access to a cloud-based lease accounting and management technology solution. Sean T. Egan, Managing Partner, said, “Prompted by the FASB…

October 4, 2022

Nonprofit organizations are granted tax exemption and other advantages because their missions have great benefits to the public. However, because they can be susceptible to abuse, the grant of benefits also requires substantial reporting and transparency. Nonprofits’ special treatment Nonprofit organizations are afforded special treatment, most notably—exemption from federal taxation and some state taxes. Also,…

August 26, 2022

Many not-for-profit CPAs are seeing their organizations rapidly grow. That growth is often the catalyst for several pain points in their back-office financial accounting processes. There is digital technology for virtually every aspect of a not-for-profit’s finances. There are technology solutions that focus on enterprise resource planning (ERP) and others that focus on smaller, yet…

August 22, 2022

Foundations are a unique breed of nonprofits. They can be large or small, local or national. They operate in almost every state and country. They serve various purposes, such as education, health care, arts and more. Most foundations rely on volunteers and professional staff members to oversee day-to-day operations. Still, no matter your organization size…

Nonprofit financial leaders today balance the need to manage an increasing level of organizational complexity with the need for speed. You’re expected to keep your eye on multiple donors and funding sources with

June 2, 2022

Early in my career, I “knew” what my path to success would be.  I was young, ambitious, and smart!  My star’s rise was assured; I knew I would be recognized for my hard work and rapidly rise in the ranks.  I was driven by purpose, but not the purpose companies are buzzing about today as…

March 22, 2022

For employers used to having the upper hand in the last 40 years, the Great Resignation is demanding a rethinking of employee relations. For the foreseeable future, power rests with workers, and wages are therefore starting to rise throughout the economy. To put it in perspective, Warehouse club Costco has boosted pay to a minimum…

January 27, 2022

10 Strengths Nonprofits can Leverage to Attract and Keep Employees From the Nonprofit Experts Many industries continue to suffer labor shortages as employees reevaluate their work experiences. In what some are calling “the Great Resignation,” employees are leaving their jobs at historic rates to pursue better career opportunities. The last couple of years have completely…

November 9, 2021

#1: Find a Trusted Financial Advisor #2: Go Paperless The benefits of going paperless span from saving the environment to streamlining processes and saving costs throughout the organization. Paper drives manual processes and inefficiencies which sap energy and funds. Going paperless, from invoicing to bill payments to full-blown accounting in the cloud, helps nonprofits to…

October 28, 2021

Tools to Navigate a Nonprofit Budget Process In the past few years, we, as a whole, have learned that there’s no excuse for working with outdated technology, especially when it comes to the process of budgeting. When we talk with nonprofits about their budget process, it’s usually accompanied by moans and groans about what an…

August 5, 2021

Diversity and inclusion are specifically important concepts in the nonprofit sector because nonprofits are created to serve the community, made up of people from different backgrounds including different races, ages, genders, and abilities.

July 30, 2021

Optimize key sources of revenue for Nonprofits such as fees from programs, goods, or services, government grants, and investments with JMT.

July 27, 2021

Grants are usually awarded because the charity presents a set of intangible reasons that helped convince the foundation staff and board to make the commitment How often do we find ourselves feeling more than a touch of envy when we hear of another charity – much like our own – winning a grant? Followed by…

July 26, 2021

Nonprofit organizations need very strong fund accounting and grant management support I admit I am new to the technology world of nonprofits, having come from enterprise solutions in the manufacturing and supply chain world for multi-billion-dollar organizations. Though nonprofit organizations tend to be much smaller, that does not seem to make their needs for certain…

July 22, 2021

In order to function and truly be successful at reaching its goals, a nonprofit must conduct itself as a business, and yes, that means making money It’s a common misconception that nonprofits must end their fiscal year with a balance of zero dollars, or close to it, in order to make their mission successful and…