Financial Technologies & Management- E-Newsletter for June

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.

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

We are pleased to announce that will be once again presenting and exhibiting at the 16th Annual MIP User Conference on October 14-16 in Las Vegas.  Please click 16th Annual MIP User Conference for conference web site and to register.  Please let us know you are coming and email us that you were referred by us so we can schedule some time together in Vegas.

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.  We are pleased to offer client care plan for our QuickBooks Online, MIP Fund Accounting, and Microix Clients.

Please click here for the current and previous monthly newsletters back to 2020.

Best Regards,

James Simpson, CPA, CFE, CITP, and CGMA.

Boards can provide effective financial governance

Nonprofits would have more public trust if all board members performed their financial governance at a high level.  The following eight financial governance responsibilities best practices should be practiced by your nonprofit organization.

1. Financial tracking by funds and program to easily identify overspending and underspending.
2. Financial Reports are goal oriented.
3. Financial health is priority and identify when poor financial health conditions exist.
4. Proper use of accounting software.
5. Financial stewarship must be a priority including all board members and policies and procedures to promote accountability.
6. Budget management to manage cash flows and revenue shortfalls.
7. Financial reserves should be established & maintained.
8. Financial plans that are reviewed and modified

The full article describes these responsibilities in detail.

An Executive Director's Guide to Financial Leadership

Financial Leadership is guiding a nonprofit organization to sustainability.  The job of an executive director includes providing an exceptional mission impact while creating sustained financial health.  The following eight key principles should guide financial leadership for your organization.

1. Activate your annual budget by achieving a financial surplus and adding a financial projection
2. Income Diversification to determine degree of diversification and risks you are willing to accept
3. Make cash flow your priority
4. Don't wish for reserves but plan for them
5. Rethink restricted funding to include overhead and general operating funds in your grant proposals
6. Properly staff your finance function including consultants
7. Design your financial reports to allow board help with short and long term planning of the organization.
8. Manage organization's risk management

The full article includes the Executive Director's cheat sheet

12 Golden Rules of Nonprofit Finance

Healthy nonprofit organizations employ financial management practices that build stability and flexibility, both today and in the future.  In this resource we set out the 12 golden rules for nonprofit finance, including budgeting, diverse funding sources, and interdependence.

1. Budgets matter as it supports financial planning
2. Understand Real Program Costs
3. Diverse Funding Sources
4. Core Mission and Infrastructure Expenses funded
5. Cash Flow needs to be monitored and managed
6. Develop Financial Literacy and Understanding
7. Financial responsibility shared and supported
8. Maintain Operating Cash Reserves
9. Maintain Accountability and Tranparency
10. Financial Integrity and Honesty
11. Financial Problem Response
12. Financial Management Interdependence to all areas

Please click on the find out more for the full article

Our Staff-Your Team

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 & staff links

Our firm provides all the levels of accounting your nonprofit needs including bookkeeping, accounting, controller, CFO, and software advisory services for nonprofit accounting software including MIP, Microix, QuickBooks, Sage Intacct and AccuFund

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