In this issue

NFP Partners attends CNA 2016 Fall Conference

For seven years NFP Partners has attended the Colorado Nonprofit Association’s Fall Conference as either a presenter or exhibitor and this year was no different. Over the course of two days, conference attendees and exhibitors gathered to discuss and present information on a wide range of needs nonprofits rely on. Some examples of booths present included human resources, donor supply systems, volunteer management, and of course, accounting.

It was a great networking opportunity for NFP Partners and all attendees. We enjoy this annual conference and find great value in meeting nonprofits and learning what the needs are at the ground level in the community. In addition, the networking between fellow providers to the nonprofit community is always beneficial. It provides us added resources to share with our clients. 

Thanks to our clients who stopped by and said hello: Denver Roller Derby, Warren Village, ECCLA, La Clinica Tepeyac, American Cheese Society, Western Resource Advocates, Downtown Denver Partnership, Colorado Nonprofit Development Center and Emergency Family Assistance in Boulder.

Next year we hope to meet more nonprofits and continue to connect with all of our clients!

Laura Jorstad,
Managing Principal

NFP Partners' financial assistant, Katie Sullivan, speaks with CNA Fall Conference attendees interested in improving their nonprofit's accounting system, while managing principal, Laura Jorstad, exchanges laughs with a few clients. 

First Nations Development Institute selects Abila MIP Fund Accounting™

The arrival of a new season isn’t the only change NFP Partners is enjoying as of late. We are also excited to announce a new Abila MIP Fund Accounting™ software client!

First Nations Development Institute (First Nations), a national Native American-created and led nonprofit organization headquartered in Longmont, Colorado, works to improve economic conditions for Native Americans through technical assistance, training, advocacy, policy, and direct financial grants.

First Nations invests in and creates innovative institutions and models that strengthen asset control and support economic development for American Indian people and their communities. Their work focuses on five key areas: achieving Native financial empowerment, investing in Native youth, strengthening tribal and community institutions, advancing household and community asset-building strategies, and nourishing Native foods and health.

Like many of NFP Partners’ clients, First Nations’ previous accounting system was outdated and unqualified to produce the results and convenience provided by Abila MIP Fund Accounting™ software. First Nations Finance Officer Thomas Reed, CPA,  said those were the reasons why he began searching for a new accounting software package.

To learn more about First Nations and their decision to select Abila MIP Fund Accounting™, please click
here. You can also visit First Nations website.

Best regards,
Lee Bengston, CPA                      

Accounting Best Practices of the Month - Round Three!

Does the thought of 2016 coming close to an end spook you out? With the closing of a fiscal year comes the start of a fresh year on the horizon. This also means your organization should be developing the budget for the forthcoming year.

The budget process doesn’t have to be a scary task. For this month’s issue of Best Practices, we’ll look at some ways to develop an effective budget for your organization. By having an effective budget, your organization can realistically move throughout the year with goals in place and budgets to adhere to. Below points out one step in developing a budget that will be operative:

Strategic Planning

  • The first step in building an effective budget is to have a strategic planning session with your management team. Some tasks to accomplish during this planning time include:

    • Discussing the programs and projects for the new budget period.

    • Setting goals for the next year and agree on them as a staff. Prioritize those goals so that during the budget process if cuts need to be made they will already be in order of importance.

    • Review the current year budget with your realistic numbers. 

To learn additional ways to effectively build a budget for a new fiscal year, click here. Stay tuned for next month when we look at another accounting cycle.

Stephanie Underwood,
Nonprofit Accounting and Finance Consultant

MIP Virtual Forum

Join us for November’s Virtual Forum as we continue to discuss budget development in MIP. This month we will look at what is involved in importing your budget “binder” (excel file with lots of worksheets) into MIP. We will provide an example of a definition file and an excel worksheet ready for import. Follow the button below to register.


Articles of Interest

We have discovered, and continue to explore, new sources of useful information for nonprofit executives and managers. This month we've shared two articles. One details how to design dashboards while the other looks at how for-profit CFOs are moving the not-for-profits sector and their challenges. We've also included an info-gram that walks you through the steps of implementing the new FAS. To access these links click below. You can also access them by going to this blog link, which holds our cumulative list of articles for 2016.

INFOGRAPHIC: Navigate the FASB Nonprofit Accounting Standard Update

Well-designed dashboards are a lot like telling a good story. What do I mean?

Nonprofit Groups Attract CFOs From For-Profit Companies
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