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An accountant with 10 years of general and progressive accounting experience is not the same as an accountant who specializes in the specific needs of a nonprofit when it comes to pledges receivables, restricted and conditional revenue streams or functional expenses. Most nonprofits don’t understand the complexity themselves so they dont even know what constitutes the right accounting support for their organization. While cash is cash and a prepaid is a prepaid, there are very unique requirements when it comes to revenue and will find frustration or a “lack of accounting support” because they don’t have the right accountant in place. That is the area I’ve seen the biggest struggle. Unfortunately, the other issue is the cost of an experienced, knowledgeable nonprofit accountant. It is difficult for nonprofits to weight the cost-benefit factor of the added value and get too caught up in its going COST how much?

Why do so many nonprofits struggle to find accounting support?   I got to have a coffee conversation about this with Ginny Waller of Waller Consulting, LLC plus a few more topics:  * 93% of people have math anxiety * My origin story * Burnout * The aging accountant workforce * Why few young people chose careers in accounting * The lack of diversity among CPAs * The high cost of turnover  * What nonprofits can do to overcome the accountant shortage * Financial policies and procedures * Fraud prevention * Why invest in technology * Fractional CFOs and other  * Organizational culture * Don't ask your financial staff to be a "Jack of all Trades" * What to do if you're on the edge of burnout * How to hire the right financial staff #nonprofits #CFO https://lnkd.in/gFD28Dtp

Why do so many nonprofits struggle to find accounting support?   I got to have a coffee conversation about this with Genevieve Waller of Waller Consulting plus a few more topics:  * 93% of people have math anxiety * My origin story * Burnout * The aging accountant workforce * Why few young people chose careers in accounting * The lack of diversity among CPAs * The high cost of turnover  * What nonprofits can do to overcome the accountant shortage * Financial policies and procedures * Fraud prevention * Why invest in technology * Fractional CFOs and other  * Organizational culture * Don't ask your financial staff to be a "Jack of all Trades" * What to do if you're on the edge of burnout * How to hire the right financial staff #nonprofit #accounting https://lnkd.in/gJwJyUVa

Before your nonprofit hires a CFO or Director of Finance, it is beneficial to hire me to perform an Operational Review of your organization’s finance department and to then include me in interviewing candidates. My article https://bit.ly/3ZICfQU provides the reason.

Californians ❤️ Nonprofits! And we love to serve this industry 🤓 ______________________________________ #accountant #accounting #cpa #accountingandfinance #accountingservices #accountants #harringtongroupcpa

Before you hire an accountant, there are some specific questions you need to ask. Let's talk about it! Hiring the right accountant is important for any nonprofit organization, as they can help ensure that your financials are in order and that you comply with all relevant laws. Before hiring an accountant, there are several important questions that you should ask to ensure that they are a good fit for your organization. By asking these questions and thoroughly vetting potential accountants before hiring them, you can find someone who is not only qualified but also a good fit for your nonprofit's unique needs. Listen here to see one of the most important questions to ask!

CFOs: Is your nonprofit finance team set up for success in a mission-driven world? Nonprofit finance professionals face unique challenges—they need to manage funds responsibly, report transparently, and collaborate across departments to ensure every dollar is driving impact. Developing a team of T-shaped professionals could be the answer. A T-shaped finance professional has deep expertise in finance but also broad skills across program management, fundraising, and operations. This skill set is ideal for nonprofits where finance touches every aspect of the organization, and adaptability is key to meeting mission goals. What skill sets are essential for your nonprofit’s finance team? Share your thoughts in the comments! #NonprofitFinance #MissionDriven #FutureReady #FinanceLeadership

It’s easy to say what you would do if you were in a certain position but you never know until you literally experience it. With that said, I’ve been an Accounting professional for almost 15 years. The best advice I have for nonprofit executives is that: Financial literacy matters. We often hear about increasing financial literacy for board members but this has to be a key focus for you as well. You can’t be an effective leader or make sound decisions without understanding how finances in your organization work. So if I was a Nonprofit Executive Director, I’d make it my business to grow a deep appreciation for financial concepts, economic trends, and reporting requirements. Accounting for Good demystifies complex financial concepts and provides resources to improve financial literacy so you can better run your organization. Join us in the community >> https://lnkd.in/eqzEswb8

Unleashing the financial power of a nonprofit involves more than just crunching numbers—it's about mission-driven strategies and foresight. Here at The Consonance Group, we excel at navigating this complex landscape. Whether you have questions or need valuable insights, Jonathan Morris, our CEO, is here to assist you. With his extensive expertise and our values-driven approach, we deliver customized solutions that cater to your organization's specific requirements. Connect with us today! #TheConsonanceGroup #TCG #NonprofitFinances #FinancialPlanning #Accounting

Is your nonprofit making these 5 common financial reporting mistakes? From revenue recognition to restricted funds, learn how to improve accuracy, maintain accountability, and safeguard your organization's reputation. Read more: https://bit.ly/48cJDYF #financialreporting #accounting #nonprofitfinance #governance #internalcontrols #riskmanagement