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Helping nonprofits become stronger financial managers.

December 20, 2013

A Pretty Good Year for NFP Partners as We Look Ahead

As another year comes to a close, I reflect on our accomplishments, our successes and things that we can improve upon. We have experienced slow but steady growth, particularly in the accounting services part of our practice.

We now provide outsourced accounting services, employing our collaborative model to about 20 nonprofit organizations, which is an increase of 50% from 2012. Most of the new business has come through word-of-mouth, which is a good situation. It is gratifying to see that our original assessment of the need for professional accounting services among smaller nonprofits has been validated. In what used to be a hit-or-miss proposition for many of our clients in managing their finances, they now enjoy the peace of mind that comes from operating under good internal controls and generating compliant, accurate, relevant and timely financial reports. Client satisfaction with our services is our reward and motivation to grow our business and improve our performance.

Looking ahead, we see several challenges that come with growth, the main one – no surprise – is getting the right people on the team and the best organizational model to deploy them. We feel fortunate to have a core of motivated and competent individuals, and also having learned about some of the human intangibles that make a difference. Making the right personnel choices is number one, but we also have to strengthen our infrastructure, especially streamlining and documenting our processes.

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Bottom line, we love what we are doing and are thankful for the trust and confidence our clients have shown in us.

We wish you all a joyous holiday.

Warm Regards,

Lee Bengston

What’s New in Nonprofit and Governmental Accounting?

I recently attended the all-day Government and Nonprofit Update course, sponsored by the Colorado Society of Public Accountants. While it was intended primarily for auditors, the material was pertinent to the audited client organizations as well. I am not an auditor, for which I’m eternally grateful, but I have to say some of the content was new to me – – and gave me a newfound appreciation for what an auditor needs to know to successfully navigate through the maze of government regulations, accounting and auditing standards, and pronouncements. Ironically, there’s a ‘clarity’ initiative within the profession to rewrite auditing standards to make them more consistent and understandable.

This all aside, it was a useful course and I garnered several takeaways that are relevant to nonprofit and governmental CFOs, controllers and accountants.

Read My Takeaways from the Course

Articles of Interest

As an added feature to our newsletter, we will list articles that 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.
NFP Partners
3570 E. 12th Ave.
Denver, CO 80206


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



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2014 Mileage Rates Released
 

The IRS issued a notice of the mileage rates for business travel effective January 1, 2014. The overall rate decreases a half cent to $.56. Click here for more information.

 
 

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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