Not-for-profit organizations work tirelessly to fulfill their missions helping others and making our communities a better place to live. In most cases, especially for smaller NPOs, resources are very limited. There always seems to be more demand for services than there are resources to provide them to those in need. Because of this, financial stewardship can fall to the back burner as there are always so many more pressing issues to address.
This approach can lead to larger issues as funders revoke funding, oversight of financial trends are not taking place and certain controls are lacking. Taking a proactive role in keeping track of what’s going on financially with your NPO will make your organization stronger—enabling you to assist more people in need. It will also make your organization less susceptible to fraud, a serious issue in the nonprofit world.
If you are already maxed out, or if you don’t have the experience in this area to manage the financial aspects of your NPO, the Brown Smith Wallace Entrepreneurial Services Group can help. Our firm has a number of small NPOs on its client roster, including Neighborhood Houses, Alzheimer’s Association, St. Louis Jewish Light and Gateway to Hope. We understand the unique challenges nonprofits face and have a bevy of resources available in our practice and through the Brown Smith Wallace NPO industry group.
In addition to our specialized services, we offer quarterly professional development seminars for not-for-profit professionals. Our NPO Speaker Series has addressed topics like annual fundraising in the face of cybersecurity threats, enterprise risk management, and investment strategies for NPOs. The educational sessions are designed to help NPO leaders stay up-to-date on the latest trends and challenges in the not-for-profit industry. Click here to view the Brown Smith Wallace event calendar for information on this series and other events.
The cost of hiring a full staffed accounting department that includes adequate controls (a full-time bookkeeper, accountant and a CFO) can range well over $200,000 per year plus bonuses and benefits. Our custom-made services provide you with experienced support at a small fraction of that cost and provides all levels of accounting and skillsets.
NPO leaders may be interested in the following services:
- Accounting Software Consulting, including MIP and Blackbaud
- Outsourced Accounting and Bookkeeping
- Tax Services
- CFO Outsourced Services
- Insurance consulting (offered through Brown Smith Wallace)
To receive more information about our services, fill out the form to the right and someone will be in touch.