Big Brothers Big Sisters (BBBS) of Central Texas uses MIP Fund Accounting to keep track of their finances and produce complex financial information
BBBS pairs volunteers and children in order to foster a supportive, fulfilling relationship. In 2013 alone, BBBS of Central Texas awarded $91,000 to 76 children in the form of scholarships and sponsored nearly 90,000 hours of mentoring between Big and Little helping over 1,400 youths in the area.
Behind the scenes, Holly Raymond, vice president of finance and operations and the BBBS staff, uses MIP Fund Accounting to break out important financial information in a variety of ways, resulting in a simplified reporting process. These operational actions are the driving force of awarding the scholarships and mentorships on an ongoing basis.
Like a number of other charities, BBBS relies on outside funding to deliver their services and keep their offices up and running. BBBS of Central Texas, which has been in operation for 43 years, found that it could save time, effort, and money with a true nonprofit fund accounting solution. BBBS of Central Texas uses the MIP Fund Accounting solution to easily allocate funds to the appropriate grants, departments and other resources so they can focus on what really matters — the children.
Like a number of other charities, BBBS relies on outside funding to deliver their services and keep their offices up and running. BBBS of Central Texas, which has been in operation for 43 years, found that it could save time, effort, and money with a true nonprofit fund accounting solution. BBBS of Central Texas uses the MIP Fund Accounting solution to easily allocate funds to the appropriate grants, departments and other resources so they can focus on what really matters — the children.
Big Brothers Big Sisters (BBBS) of Central Texas is an organization which promotes the development of healthy mentoring relationships between adult volunteers and at-risk youth. They also act as a scholarship program for youth who may not be able to afford secondary education. Big Brothers Big Sisters uses MIP Fund Accounting to keep track of their finances and produce complex financial information.
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Providing Assistance to Children
A big part of the help BBBS has been able to extend to thousands of children in Central Texas is due to its ability to manage money. The functionality of MIP Fund Accounting not only can help the charity better keep track of funding, but BBBS has been able to save money from various divisions to put toward more campaigns and causes.
For example, with the use of MIP, BBBS was able to easily save $50,000 in 2013, money that allowed 40 additional children to be mentored. Moreover, this has allowed BBBS to maximize resources because of a massive increase in efficiency.
Time is a Benefit
Raymond points out that the data needed for military mentoring grants can be disaggregated in just a few clicks now, rather than having to manually track funds in a separate spreadsheet.
“We use MIP for accounts payable, accounts receivable, budgeting, and all of our General Ledger,” Raymond details.
One of the advantages of being able to disaggregate information quickly is the fact that BBBS can provide the reports they need when needed, but also make it easy to pick out individual data points with a deeper look at a specific grant.
BBBS is confident that MIP is superior to other software options because of the flexible segmented chart of accounts allowing workers to break out important information in many different ways, including separating out grant numbers or department numbers, which ultimately results in streamlined reporting processes. Users can report on the specific General Ledger code associated with a grant and they’ll have the data they need in seconds.
Big Brothers Big Sisters of Central Texas would not be able to accomplish vital functions to their organization like grant reporting without MIP Fund Accounting.
challenge
Big Brothers Big Sisters of Central Texas needed a fund accounting tool that would increase efficiency in accounting processes to save money and maximize the effectiveness of volunteers and employees.
solution
MIP Fund Accounting allowed BBBS to streamline their accounting processes and save significant money across multiple departments and increase organizational efficiency.
results
BBBS was able to save $50,000 in 2013 alone, allowing an additional 40 at-risk children to benefit from their organization’s mentoring program.
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