Category: "Fund Accounting"

From Managers to the Board Members: How to Show Them the Data They Want
March 30, 2017
From Managers to the Board Members: How to Show Them the Data They Want

Managing finances for a nonprofit organization means getting visibility into how your organization is achieving its mission. Program managers, CFOs, CEOs, and board members all need insight into different aspects of the financial and operational data to make the right decisions. How can you be sure every decision maker on every level is equipped with…

Why Every Nonprofit Needs Dashboards to Resolve the Visibility Issue
March 23, 2017
Why Every Nonprofit Needs Dashboards to Resolve the Visibility Issue

As a CFO of a nonprofit, you not only face unique challenges in business and finance but also experience significant pressure to prove you’re making the right decisions about your organization. Board members and stakeholders expect to see you’re making informed and successful decisions about your organization’s financial matters. More than ever, donors want transparency…

Why Your Nonprofit Needs to Measure KPIs (and How to Get Started)
March 16, 2017
Why Your Nonprofit Needs to Measure KPIs (and How to Get Started)

When working with nonprofit organizations, I see the same common financial management challenges time and again: lack of visibility, data pulled from too many sources without integration, disparate types of data, and extensive use of manual processes like spreadsheets to analyze, track, and report. Does any of this sound familiar in your organization? Because of…

Is Your Financial Data Safe From the Storms?
March 14, 2017
Is Your Financial Data Safe From the Storms?

Is Winter Storm Stella going to be your deciding factor for finally moving to the cloud?  With this megastorm threatening much of the Northeast, your on-premise systems are in danger of being compromised.  From having redundant data to dispersed geography and backup disaster recovery  (BDR) processes, cloud computing protects organizations of all sizes from a…

Why Your Grant Management isn’t Working (and How to Fix it)
March 3, 2017
Why Your Grant Management isn’t Working (and How to Fix it)

A special breed of nonprofits, Community Action Agencies are the primary source of direct support for the more the 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 more than 3 million families every year. While exhibiting at the Annual…

A Practical Guide to the FASB ASU 2016-14 for Nonprofits
February 23, 2017
A Practical Guide to the FASB ASU 2016-14 for Nonprofits

Last August, the Financial Accounting Standards Board (FASB) announced some major changes to accounting rules titled, “Presentation of Financial Statements of Not-for-Profit Entities.” By implementing these changes, the FASB hopes to bring increased visibility into nonprofit financial statements, what goes into the statements, and how the statements are presented. While this shouldn’t be a surprise…

Case Study: Tulsa Jewish Retirement Finds Accounting Software Solution for Their Growing Nonprofit Organization
February 14, 2017
Case Study: Tulsa Jewish Retirement Finds Accounting Software Solution for Their Growing Nonprofit Organization

Download the PDF version of this case study here. Tulsa Jewish Retirement (TJR) is a continuum of care facility offering independent living, assisted living, and full-time nursing care and health care services for seniors. The organization has been serving seniors in Tulsa for over 30 years and continues to grow. With this steady growth, TJR’s…

How to Plan for Better Nonprofit Financial Management in 2017
February 9, 2017
How to Plan for Better Nonprofit Financial Management in 2017

While 2016 might be over, 2017 is off to a fast start. It’s important for financial managers to have the right planning in place for their nonprofits in the new year. Between reports and taxes and grants and compliance, things can get lost in the mix. Don’t fear getting lost in the chaos—we put together…

Cloud Accounting Software: Everybody’s Doing It, Should Your Nonprofit?
January 19, 2017
Cloud Accounting Software: Everybody’s Doing It, Should Your Nonprofit?

If you’re like most nonprofits, you’re always on the lookout for the most effective ways to further your mission while being fiscally responsible. This often leads to outdated financial management systems for nonprofit organizations who choose to hang on to their legacy systems in an effort to save money. The problem is these legacy systems…

Key Fund Accounting Questions Your Board Should Be Asking
January 4, 2017
Key Fund Accounting Questions Your Board Should Be Asking

All nonprofit board members have a fiduciary responsibility to diligently oversee the fund accounting and financial operations of the nonprofits they govern. Failure to receive timely, accurate information from the organization’s finance team can prevent the board and the finance committee from successfully executing on their responsibility. This can create disastrous consequences for the board…

Fighting Spreadware: Conquering Manual Workarounds with the Right Systems
December 28, 2016
Fighting Spreadware: Conquering Manual Workarounds with the Right Systems

There is a malaise, almost like a disease, that spreads throughout offices and workforces. It happens when systems don’t do what they should or can’t offer capabilities a non-cookie cutter business structure requires. An employee can’t do it within the system, so they find a workaround outside it. There is a term for this epidemic…

Case Study: Nonprofit Finds Accounting Software Solution for Their Unique Financial Structure
November 23, 2016
Case Study: Nonprofit Finds Accounting Software Solution for Their Unique Financial Structure

Founded in 1974, Samaritan House is a nonprofit social services agency in San Mateo County, California, providing multiple services and programs for individuals and families in the community. The nonprofit serves approximately 12,000 people per year and manages all financial aid requests, validation, and disbursements across eight agencies in the county. With highly specialized accounting…

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