Warren Averett Finance Team Support Solves Three Issues Facing Nonprofits

Written by Warren Averett and Jeri Groce, CPA and Anna Goldman, CPA on April 10, 2018

Warren Averett Finance Team Support Solves Three Issues Facing Nonprofits

Warren Averett offers Finance Team Support (FTS) to nonprofit entities to support and strengthen the accounting function of the organization. For many nonprofits, maintaining a full in-house accounting staff is too costly to properly segregate accounting functions. That’s where our services can help. Our FTS professionals understand the challenges facing nonprofits and offer solutions based on your unique needs. We’ve highlighted three key areas in which our FTS group can assist your nonprofit:

Performance and growth – Our insights stem from our experience in providing a wide variety of services to numerous nonprofit organizations. Having sound financial data readily available is imperative for properly understanding the health of your organization and making appropriate decisions. By providing you with real-time financial information, we can also help provide you with steps for how to get where you want to be. We can make strategic planning recommendations to help you reach your goals. We understand that each nonprofit is unique concerning the mix of contributions and grant dollars, and it can be difficult to compare your nonprofit to other similar organizations. Our professionals can guide you with funding source accounting and provide you with a monthly budget-to-actual comparison to identify deviations and trends that will help you see exactly how your organization is tracking throughout the year. Having reliable financial information will provide you with the confidence to pursue new opportunities.

Operations – Our FTS group can help your nonprofit streamline processes to gain efficiencies and reduce costs, allowing your organization to focus on programmatic goals that further your mission. Donors and grantors are attracted to nonprofit organizations that effectively manage operating costs. Having a real-time statement of functional expenses helps your nonprofit track operations to ensure that management and general costs are at a healthy level and the majority of your resources are going to support your program services.

Audit requirements and regulations – Keeping up with complex and ever-changing accounting policies can be challenging for nonprofits. Our FTS group provides services that help nonprofits prepare financial statements for an upcoming audit. We can serve as a liaison between the entity and the auditors and provide outsourced services to prepare your organization to undergo an audit. For nonprofit entities that receive federal grant dollars, we can provide consulting services to ensure that your organization is aware of the federal compliance regulations associated with the grants. Our professionals can help you navigate the process and provide you with peace of mind.

Our FTS professionals can provide your organization with the accounting and financial support necessary for success. Through our services, we recommend ways for your organization to save money on administrative costs and grow while supporting your mission. We understand the issues that nonprofits face, and our experienced team members offer value-added solutions and recommendations to all aspects of your unique industry.

Jeri Groce is a Senior Manager in the Firm’s Audit Division. She specializes in planning and conducting audits for nonprofit, higher education and governmental entities.

Anna Goldman is a Manager in the Firm’s Audit Division and serves as the communications coordinator for the Firm’s nonprofit team.

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