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Helping nonprofits become stronger financial managers.

February 20, 2014

Reflecting on Our Mission and Fulfillment
 

NFP Partners’ mission is to help nonprofit and governmental organizations become stronger financial managers. For mid-size organizations, we provide accounting and fundraising software tools and for smaller organizations, we offer outsourced accounting services. We have found our proverbial niche and can say with confidence that the last seven years of effort was definitely worth it. We are now an organization of five full-time professionals with strong potential for growth, which will allow us to do more for the not-for-profit community. To accent this, I recently received an email from a client complimenting our service performance and our newsletter’s high-quality content.  We appreciate the kudos, but as I have mentioned before, we are continuously taking stock of our strengths and weaknesses in order to expand and improve our services.

One of our current tasks is to streamline and document our policies and processes and to use cloud-based and mobile technology. We also want to succeed in the marketing game by increasing our recognition and footprint as a creditable resource so potential clients will come to know us, like us, trust us, which will lead to engaging our services and referring us to others. A large part of this approach is to reach out to nonprofit managers and provide useful information that includes but goes beyond the narrower confines of technology and accounting. We want to become the recognized go-to resource for all things financial for nonprofits. If you go to our website, you will see some evidence of this, including our download library and blog. Our website will get even better as we develop additional content for our own practice, such as financial policies and procedures and best practices. We will share these with the community at large via the website, blog, and newsletter.

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Warm Regards,

Lee Bengston

Comparing the Cost of a Traditional Software License Purchase to a Monthly Subscription

As discussed in an earlier article, “Acquiring and Deploying Accounting Software,” getting new accounting software has become more complicated. In this post, let’s examine the direct cost of the software compared with the cost of buying a traditional perpetual license plus annual maintenance and support vs. acquiring use of the software on a subscription basis with a set monthly fee. This comparison assumes that the other costs associated with implementing and supporting the software do not vary substantially between the two alternatives. For example, hosting and other IT costs would be the same, as would the cost of professional services for implementation.

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NFP Partners Welcomes Jewell Cochran

Jewell Cochran recently joined NFP Partners as a senior Finance and Accounting Consultant, where she manages and performs accounting and controllership services for our clients. Jewell has a strong background, having worked in various finance staff and leadership positions for nonprofit organizations, including Denver Children’s Home and the Devereux Cleo Wallace.
 
Jewell is skilled in accounting management, financial reporting, strategic support, forecasting, and system implementation. She adds to NFP’s capacity to provide high-quality consulting services to our existing client base and to grow our unique collaborative accounting services practice.
 
Jewell holds a Bachelor of Science, Business & Accounting from the University of Phoenix. She can be reached at 720-474-1858 or via e-mail at Jewell@NFPpartners.com.

Articles of Interest

As an added feature to our newsletter we will 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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Managing Nonprofit Financials for Greater Success
March 11, 2014 - 12:00pm MT
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March 18, 2014 - 12:00 MT
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How to Achieve Greater Fundraising Success!
March 11, 2014 - 10:00am MT
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Streamline Your Grant Management Process
March 12, 2014 - 1:00pm MT
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March 26, 2014 - 1:00pm MT
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Fundraising:  Make Stronger Connections with Supporters on the Web
March 19, 2014 - 10:00am MT
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Financial Management Best Practice – Fixed Assets (Really?)

Let’s talk about fixed assets, an area in financial management that is sometimes out-of-sight, out-of-mind. Other than cash, fixed assets probably presents the next best opportunity for theft, computer equipment being a prime example. With the ever decreasing prices for computers and portable devises, most purchases fall below the dollar threshold set for capitalization (e.g., $1000). As a recommended best practice – and internal control – items like computers that fall under and threshold and are expensed in the general ledger should still be recorded in the fixed asset inventory with zero value and subject to the same accountability as other fixed assets. Corollary best practices are assigning custodial responsibility to individuals and conducting an annual inventory.

 

Colorado Nonprofit Financial Manager Peer Group

The Colorado Nonprofit Financial Manager Peer Group is an educational networking groups 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 meet up site to register and view upcoming events.
 
If you have questions, please contact Jessica Taylor at Jessica@nfppartners.com.


 

     



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