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Helping nonprofits become stronger financial managers.

July 29, 2014

What We Look for in an Ideal Client

In case you may be considering becoming one...
 

Since NFP Partners‘ business is centered on helping nonprofit organizations become stronger financial managers, we focus on what makes a prospective client a good fit for our consulting services. Will a prospective clients get to know us, like us, and trust us? And, if they are satisfied with our services, will they recommend us to other organizations?

First of all, let’s stipulate that the ideal client prospect recognizes the need for help in the financial management area, or there would be no reason for consulting assistance. As discussed in the June article, “Know Where You Are in the Nonprofit Lifecycle and Get Ahead of the Game,” all organizations progress through distinct stages of growth – from inception to maturity – with each stage characterized by different needs to fulfill prior to moving forward. An early-stage organization has different needs and priorities than an organization in a later stage. Our sweet spot is with growth-stage organizations that need to manage this dynamic transitional period. Our goal is to assist them in reaching the mature stage with professional management in the key functional areas and the appropriate organizational, human, financial, and technology resources.  After reaching maturity with permanent resources in place, the need for our services diminishes and is characterized by occasional special projects and strategic advice.

We recognize the qualities that propel an organization from startup to maturity within the context of financial management, ultimately making our working relationship a fulfilling experience. Click on the link below to read about the main qualities, based on our experience with many types and sizes of nonprofit organizations over the past eight years.

Read More

Please feel free to contact me at 303-367-1058 with any comments or questions.
 

Warm Regards,


Lee Bengston

Setting Up Best Accounting Practices - Where to Start?

By Jewell Cochran

At some point in any start-up company or nonprofit organization’s lifespan, properly structured accounting practices are needed. Maybe you have no practices at all, or you have inherited a complete mess. Where do you start?

The first place to start is with cash! If cash isn’t flowing in a positive direction, creating practices around all other systems will be pointless. Begin with a simple cash forecast. Gather the basics: an accounts receivable report, a listing of your monthly invoices, the terms of your loan. If the forecast looks okay, then do another one in a couple of months. If it doesn’t look positive, it is time to move onto step #2.

Create a checklist of activities, upgrading at least one of the items from the forecast that needs attention. Keep upgrading this checklist with additional items and within 3-4 months, you will have an acceptable cash forecast.

Remember, you’re setting up systems to correct existing cash problems only. It is necessary to refine and document working systems but it is not critical at first.

Would You Like to be a Guest Blogger?
 

There are many capable, intelligent and dedicated nonprofit folks who read our newsletter and follow our blog. If you have something to share with our readers, we welcome you as a guest blogger.

If you have been following our newsletter, you have a general feel for the subjects that are covered. If you are interested in contributing, please contact our editor, Kristen Sanchez, and we will make it happen. You can also stick your toe in the water by commenting on one or our posted articles.
 

Articles of Interest
 

As an added feature to our newsletter, we list articles that we have run across which we feel are relevant to nonprofit financial management. They are not listed with any immediate editorial comment nor have we re-blogged them. Just click on the article to go to the source. You can go to our blog for a cumulative list of articles.
NFP Partners
3570 E. 12th Ave.
Denver, CO 80206


T: 303-586-5011
W: www.nfppartners.com
E: info@nfppartners.com



Contact us for a financial management assessment and to find out more about how NFP Partners can help you.



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Stepping Up to a Permanent Nonprofit Accounting Software Solution
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MIP Virtual Forum


At least 15 MIP users participated in the July meeting. Responding to feedback from people who are unable to attend the meeting on a Friday, a change to the third Wednesday or Thursday is under consideration and will be put out there for a vote.


Colorado Nonprofit Financial Manager Peer Group


The Colorado Nonprofit Financial Manager Peer Group is an educational networking group for Colorado nonprofit finance professionals. Its purpose is to offer a forum for professionals in the field to network, exchange ideas and resources, and learn about best practices and new developments in the field of nonprofit accounting. Please visit the group's meetup site to register and view upcoming events.

Next Event:

CNFP Monthly Meeting - Nonprofit Legal Update
Tuesday, August 26, 2014
9:00am-11:00am
Location TBD
More Information

If you have questions, please contact Jessica Taylor at Jessica@nfppartners.com.


 

New Clients


NFP Partners would like to welcome the following new clients:
  • Nurse-Family Partnership (Denver, CO) - MIP Consulting
  • Early Childhood Council Leadership Alliance - Accounting Services
 


NFP Partners Offers Private Cloud Hosting

NFP Partners offers state-of-the-art, private cloud hosting services for accounting software through our affiliated Abila Business Partner, NonProfit Technologies, Inc. The service is available to licensed users of Abila MIP Fund Accounting and the QuickBooks desktop editions (Pro, Premier and Enterprise).



More Information
 
     
 


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