Financial Technologies & Management- E-Newsletter for October |
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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 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. Starting in January, 2026, the Nonprofit Financial Forum and MIP User Group will be two separate meetings.
Here is the monthly schedule for 2025: Please click on link for more information and to register.
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. 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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Effective Grants Management and Cost Allocation |
In order to provide effective grants management, we need to make sure that we are performing bookkeeping at the grant level. Our grant accounting needs to properly allocate costs to the grants while maximizing our grant reimbursement and avoiding any cost disallowance. Your board members and related governance should be knowledgeable and informed about grant budgets and compliance requirements. The board should stay knowledgeable of grant administration trends, developments, and regulations.
Federal grants and awards are specifically identified and require a financial management system that identifies the source and application of federal funded activities. Federal grants typically require written procedures around payment requirements, allowability of costs, procurement procedures, standards of conduct, and ability to prepare Schedule of Federal Awards. (SEFA)
Cost allocations are an integral part of effective grants management. Effective cost allocations will allow to report and recover the fully loaded program costs to facilities and administrative costs. Some organizations could benefit from documenting their cost allocation and federal programs may require a formal cost allocation plan. Some acceptable methods of cost allocation would include hours worked for variable costs, and square footage for fixed costs like facilities.
Please click the find out more button for the full article |
| Succession Planning for Your Nonprofit |
Succession Planning is a proactive, structured and documented process to ensure leadership continuity, reduce risk and maintain organizational stability during transition. Why does it Matter?
Risk Mitigation: Only 28% of nonprofits have formal succession plans for only the top position and no others Continuity: Reduces disruption during leadership changes.
Knowledge Retention: Prevents loss of institutional knowledge. Staff Confidence: Boosts morale and trust during transitions.
Full article will review the core elements of a succession plan: - Identify critical roles and competencies
- Develop interim staffing options
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Learn how to document staff role
Succession Planning document should include the following: - Job Description
- Purpose Statement
- Key Competencies
- Leadership Styles and Traits
- Communication Plan
- Strategies
Contact us for assistance to develop your succession plan!! Please click the find out more button below for the full article |
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Effective Financial Governance & Leadership |
The best nonprofits provide effective financial governance and leadership. The leadership needs to focus on making its organization financial sustainable and continuing to exists for long-term mission and social value. It is important that all leaders in the organization practice effective governance and leadership for the organization to be financial sustainable and survive. This starts with board members, treasurer, financial committee, and executive staff and they must establish the proper importance of stewardship and sustainability for the organization that they serve.
The Nonprofit Treasurer Roles and Responsibilities should oversee the following areas: - Audit
- Budget
- Financial Reporting
- Compliance
- Risk Management, Insurance, and Fraud Prevention
- Financial Policies
- Promote Financial Literacy
There are eight effective financial governance responsibilities to look for in your nonprofit. Also, we will review the financial areas that the finance committee should review. Executive Director Leadership should include the following eight areas, and the 12 Golden Rules of Finance.
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, 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
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 Please click here to find our more about our firm and services |
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