Financial Technologies & Management- E-Newsletter for March |
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| Upcoming Live Webinars Dear {CONTACT.SALUTATION} We hope you find our monthly E-Newsletter useful for your nonprofit organization. We are pleased to provide you with access to our knowledge articles and live webinars!!
These live webinars will help Nonprofit Leaders, Treasurers, Finance Directors, Finance Staff, Executive Directors and other Nonprofit Staff.
Our upcoming live webinars for financial management training are broken into the following areas: Nonprofit Financial Forum, Nonprofit Finance Certificate, MIP Fund Accounting, and Financial Management Training.
We are pleased to announce our 2025 Nonprofit Financial Forum and MIP User Group which we have combined together for 2025 with the Forum during the first hour and the MIP user group for the last 30 minutes. Here is the monthly schedule for 2025: Please click on link for more information and to register. Mar 19, 2025 Building a Better Budget
Apr 30, 2025 Presenting Financial Reports May 28, 2025 Effective Grants Management and Cost Allocation
Jun 25, 2025 Effective Nonprofit Financial Governance and Leadership Aug 20, 2025 Tips for Smooth Audit and Common Audit Pitfalls Sep 24, 2025 Building a Better Budget Oct 29, 2025 Presenting Financial Reports
Nov 19, 2025 Effective Grants Management and Cost Allocation Dec 17, 2025 Effective Nonprofit Financial Governance and Leadership
Please contact us via phone, email, or directly book a consultation on my calendar for all current and prospective clients. Also, you can use the contact us page to subscribe to our newsletter for you, your staff, or your colleagues. Please click here for the current and previous monthly newsletters back to 2020. Best Regards, James Simpson, CPA, CFE, CITP, and CGMA. |
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A strong budget is an essential element for any nonprofit organization to achieve financial leadership. Superior budgets, though, have written plans about the core activities to include strategic, organizational, and program goals and how they will be financed. Financial sustainability can only be achieved with a well-prepared and continuously monitored budget. Conversely, a poorly developed budget can diminish mission focused activities opportunities and threaten long-term success. Budget process best practices would include: - Establish budget process timeline
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Set goals for organization and its programs
- Draft income budget to identify expected donor sources
- Draft expenses into variable, fixed, incremental, indirect
- Implement budget
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Document budget decisions including and assumptions
- Finance committee reviews draft budgets
- Document budget decisions including assumptions
Please click on the find out more for the full article |
| Importance of Having a Nonprofit Operating Reserve
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Nonprofits need an operating reserve to cope with financial challenges. Operating reserve is a long-term savings account that can be used to cover short-term cash flow gaps.
Nonprofit organizations continue to face challenges and uncertainties in their operations such as fluctuations in funding sources, unexpected expenses, economic volatility, and increased demand for services. To cope with these risks and help achieve financial stability and sustainability, nonprofit organizations need an operating reserve. Benefits of Operating Reserves - Enhance ability to fulfill mission during uncertainty
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Increase trustworthiness for financial resilience
- Reduce dependence on fundraising or borrrowing
- Invest in strategic opportunities like expanding programs, hiring staff, or new initiatives.
We will review calculating operating reserves, building and managing operating reserve, developing operating reserve policy, and five essentials for policies. Please click on the find out more for the full article |
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Our firm has grown because of strong client relationships with referrals from our clients and other referral partners. Our staff is very experienced at performing the accounting function for our clients. Our nonprofit accounting services includes bookkeeping, accounting, controller, and CFO services. Our nonprofit software accounting software expertise be composed of QuickBooks Online, MIP Fund Accounting, Microix, and Sage Intacct. Our nonprofit software services comprise software assessments, sales, data conversions, implementations, training, support, and project management services. Our financial management training consists of our monthly news letter, nonprofit financial forum, MIP user group, and other training.
Our approach is to work with you to determine how your organization can best benefit from our professional services. We realize that organizations don't have the resources to have a full accounting staff, so we focus on filling the accounting staffing gaps. We deliver quality accounting, bookkeeping, advisory, and tax services to ensure you have everything you need to make a significant impact for your cause. Our firm provides the most experienced staff at affordable rates.
Please click on the find out more for the full article and staff member links |
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FTM offers client care plans for our QuickBooks Online, MIP Fund Accounting, and Microix Clients. |
We are excited to expand our software advisory services by offering a client care plan to our QuickBook Online clients.
FTM Client Care Plans provide unlimited support via phone, email and online meetings with certified consultants with more than a decade of experience! You talk with the same person who knows your organization and your special needs. All finance team members with prior training are eligible.
FTM has certfied trainers, dedicated trainer support line, average response time is 2 hours or less, and priority client assistance to meet your needs and insure you are fully utilizing your accounting software investment.
We offer three plans that start at $500 per year. Our plans cover everything and don't have limitations like the M&S plan provided by MIP and MIcroix including offerring accounting services help as well.
The bronze plan is $500 per year includes 5 hours of email, telephone, remote, and online meetings. The silver plan is $2,500 per year includes unlimited email, telephone, remote, and online meetings. Software issues are resolved quickly.
Our client care plans insure you are better utilizing your accounting software. Please click full article for our client care plans for Quickbooks Online, MIP Fund Accounting, and Microix Clients. |
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