Financial Technologies & Management- E-Newsletter for August |
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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, 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. 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. |
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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.
Most financial leaders focus too much time on budget variance analysis and not enough time to anticipating or planning for the future. By anticipating or planning, organizations can focus on what’s upcoming regardless of its budget cycle or fiscal year end. A budget can be complemented with rolling forecasts to better anticipate upcoming financial results. 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
- Draft income budget to identify expected donor sources
- Draft expenses into variable, fixed, incremental, indirect
- Implement budget
- Document budget decisions including and assumptions
- Finance committee reviews draft budgets
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Document budget decisions including assumptions
Additional Resources for Building a Superior Budget: Please click the find out more button for the full article |
| Presenting Financial Reports |
Your board members have a fiduciary responsibility to monitor your nonprofit’s budget and financial health. Reviewing financial reports allows them to ensure your organization is managing its budget properly and complying with Generally Accepted Accounting Principles (GAAP). Having clear and accurate financial reports can go a long way towards establishing trust in potential donors looking for organizations to support.
Nonprofit Financial Reports allow you to - Improve financial decision making
- Secure more funding
- Engage program managers
Four types of reporting are needed by the board: - Compliance-audit, taxes, and grants
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Evaluation-organization and program activities
- Planning-budgeting, projections, trends, and new programs
- Taking Action-External changes, addressing management problems
We will review the financial reports to be presented at every board and finance committee meeting. We will review the four types of reporting needed by the board. We will review Financial Difficulty Reporting. The Key Steps to Presenting Financial Information to the Board will be reviewed along with tips and tricks that we have found useful. We will finish with how to prepare your Nonprofit Financial Reports.
Please click the find out more button below for the full article |
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Harnessing Your Nonprofit Endowment To Overcome Financial Emergencies |
Even the most diligently managed nonprofit organizations with realistic budgets and adequate reserves can face financial emergencies. Whether it’s the sudden loss of a major funding source or unexpected operational costs, these challenges demand swift, strategic solutions.
For nonprofits fortunate enough to have a nonprofit endowment, this powerful financial asset can provide a lifeline to stabilize cash flow, maintain and replenish adequate reserves, and sustain your mission. By crafting a prudent spending policy, nonprofits can confidently navigate financial emergencies while ensuring long-term sustainability. Here’s how to leverage your nonprofit endowment effectively in 2025, with a blend of sophistication, passion, and trustworthiness. - Understanding Restrictions and Legal Guidance
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Crafting a Robust Spending Policy
- Factoring in Inflation for Long-Term Sustainability
- Best Practices for Prudent Endowment Management
- Secure Your Nonprofit's Future
If your nonprofit faces uncertainty or needs help optimizing its nonprofit endowment, please contact us so we can build a financial strategy that empowers your organization to thrirve. 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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