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 newsletter articles, tips and tricks and live webinars!! We have added our weekly tips and tricks to our social media platforms including
Facebook and Linked In in so follow up there as well 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 and MIP Fund Accounting.
We are pleased to announce our 2026 Nonprofit Financial Forum for 2026. Please click on link for more information and to register. Jan 21, 2026 1099 Tax Preparation
Feb 25, 2026 Tips for Smooth Audit and Common Audit Pitfalls
Mar 25, 2026 Building a Better Budget
Apr 29, 2026 Presenting Financial Reports
May 27, 2026 Effective Grants Management and Cost Allocation Jun 24, 2026 Effective Nonprofit Financial Governance and Leadership
Aug 26, 2026 Tips for Smooth Audit and Common Audit Pitfalls
Sep 30, 2026 Building a Better Budget
Oct 28, 2026 Presenting Financial Reports
Nov 18, 2026 Effective Grants Management and Cost Allocation
Dec 15, 2026 Effective Nonprofit Financial Governance and Leadership
We are pleased to announce our 2026 MIP User Group meetings. Please click on link for more information and to register. These meetings will be held on the same day as the Nonprofit Financial Forum from 2:00 to 3:00 EST.
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 |
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Building a Superior Budget |
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
- Set goals for organization and its programs
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Draft income budget to identify expected donor sources
- Draft expenses into variable, fixed, incremental, indirect
- Implement budget
- Document budget decisions including and assumptions
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Finance committee reviews draft budgets
- Document budget decisions including assumptions
Please click the find out more button for the full article |
| Importance of Having a Nonprofit Operating Reserve |
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
- Increase trustworthiness for financial resilience
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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 the find out more button below for the full article |
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The MIP User Group is a free educational webinar to provide you with helpful tips and tricks, best practices, and software updates. During this free educational webinar, you will have a chance to reconnect and network with your peers. We are pleased to offer this additional training as a follow up to the annual MIP User Conference to allow these attendees to continue to receive training post conference. The MIP User Group purpose is as follows:
- Learn best practices from nonprofit accounting experts
- Improve your use of MIP Fund Accounting
- Stay compliant with audits, grants, and reporting
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Network with nonprofit finance peers
- Ask your questions and get real-time guidance.
The monthly topics for 2026 include: Click on link for more information and to register for FREE MIP User Group. Please click the find out more button 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 Workflow Modules for MIP, 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 newsletter, nonprofit financial forum, & MIP user group.
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. Addtional FTM resources to help your organization:
Is now time for financial assessment?
FTM offers client care plan for QBO and MIP users?
Why you should consider an Outsourced Controller or CFO?
Does my Nonprofit Need a Controller?
Eight Reasons to Outsource Your Nonprofit Accounting
When to Consider a Move to Fund Accounting? Please click the find out more button for the full article |
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