Leading an Established Nonprofit
Your Organization Has Grown.
So Have Your Financial Needs.
Your nonprofit has moved beyond simply getting established. You may be managing larger grants, more complex budgets, multiple funding sources, increased reporting requirements, and a growing number of stakeholders who depend on accurate financial information.
SJH CPA helps established South Florida nonprofits manage the financial side of their organizations with the ongoing support and oversight they need to keep moving forward.
WHAT'S INVOVLED
Managing the Financial Side of an Established Nonprofit
More Funding. More Activity. More Financial Complexity.
As your organization grows, financial management becomes about more than keeping accurate books. Leadership needs to understand how the organization is performing, grants need to be managed and billed, budgets need to be monitored, and Boards and other stakeholders need reliable financial information.
For some established nonprofits, this is the point where having experienced financial support becomes an important part of managing the organization.
WHY IT MATTERS
At Some Point, Keeping the Books Isn’t Enough.
Your nonprofit may have started with relatively straightforward financial needs. But larger grants, more complex budgets, increased activity, and greater reporting expectations can change what it takes to manage the organization well.
At this stage, nonprofit leaders often need more than accurate transactions. They need clear financial information, consistent oversight, and someone who understands how all the pieces fit together.
HOW SJH HELPS YOU RUN A NONPROFIT
Financial Support That Grows With Your Organization.
For an established nonprofit, financial management can touch nearly every part of the organization—from bookkeeping and grant administration to budgets, reporting, tax filings, and the financial information leadership relies on.
SJH CPA can serve as an extension of your organization’s financial team, providing ongoing support and a higher level of oversight as your needs become more complex.
One Organization. Multiple Financial Audiences.
Your financial information isn't used by just one person. Management, your Board, grantors, donors, and the IRS may each need different information from your organization.
SJH CPA can help maintain the financial systems and reporting needed to support those different responsibilities while giving leadership a clearer picture of the organization as a whole.
QUESTIONS
Questions About Managing the Finances of an Established Nonprofit?
Financial Growth Brings New Questions
As your organization becomes more complex, financial questions often become less about individual transactions and more about oversight, reporting, accountability, and making sure leadership has the information it needs.
When does a nonprofit need higher-level financial support? There isn’t a single point when every nonprofit needs controller or CFO-level support. The need is usually driven by the complexity of your organization and the level of financial oversight it requires. As your nonprofit grows, you may be managing larger or multiple grants, more complex budgets, increased reporting requirements, audits, growing staff, or financial decisions that go beyond day-to-day bookkeeping. These can all be signs that your organization would benefit from a higher level of financial support. SJH CPA can help you determine the level of support that fits your organization and provide outsourced controller or CFO-level services as your needs grow.
What does an outsourced CFO actually do? An outsourced CFO provides higher-level financial support without requiring your nonprofit to add a full-time CFO to its staff. Depending on your organization’s needs, that can include financial reporting, budgeting and forecasting, cash-flow oversight, financial policies and procedures, staff oversight, and helping leadership understand the financial implications of important decisions. For an established nonprofit, CFO-level support can also help leadership see how grants, budgets, programs, and other funding activity fit into the organization’s overall financial picture.
What’s the difference between bookkeeping, controller and CFO support? These services generally address different levels of your nonprofit’s financial needs. Bookkeeping focuses on accurately recording and maintaining day-to-day financial activity, including transactions, reconciliations, and routine financial records. Controller-level support provides greater oversight of the accounting function, helping ensure your books are accurate, financial reports are reliable, and appropriate financial processes and controls are in place. CFO-level support takes a broader view, using financial information to support budgeting, forecasting, planning, oversight, and leadership decision-making. The responsibilities can overlap depending on the size and structure of your nonprofit. SJH CPA can customize the level of support based on what your organization actually needs.
How do we handle the complexity of managing multiple grants? Managing multiple grants requires a system that allows your nonprofit to understand each award individually while also seeing how grant activity affects the organization as a whole. For each grant, your organization should be able to track the award, budget, applicable restrictions or conditions, expenses, remaining balances, reporting deadlines, and reimbursement or billing requirements. Because requirements can vary by grantor and award, it’s also important to understand the specific terms associated with each grant. SJH CPA can help established nonprofits manage grant tracking, budgets, billing, reimbursements, and financial reporting as the number and complexity of their grants grow.
What financial information should leadership and our Board see? Leadership and the Board need timely financial information that helps them understand the organization’s financial position and how actual performance compares with its plans. Depending on the nonprofit, this may include the statement of financial position, statement of activities, budget-to-actual results, and information about cash, grants, restricted funds, and significant financial variances. The goal isn’t simply to provide more reports. It’s to give leadership and the Board financial information they can understand and use to provide oversight, ask informed questions, and make sound decisions. SJH CPA can help prepare financial reporting that gives leadership and the Board a clearer view of your organization’s finances.
Can SJH CPA work with the team we already have? Yes. Bringing in outsourced financial support doesn’t necessarily mean replacing your existing staff or bookkeeper. SJH CPA can work alongside the people and processes you already have in place. For example, your bookkeeper or internal staff may continue handling day-to-day transactions while SJH CPA provides additional oversight, financial reporting, budgeting and forecasting support, or controller and CFO-level guidance. The right structure depends on your organization’s team, systems, and financial needs. SJH CPA can customize its support to complement the resources you already have.
When do I need to have an audit performed? While there is a FL statute requiring an audit if income is over $1 million, this statute also notes you can bypass the audit by having your 990 prepared by a CPA. Outside of that, there is no audit requirement for a NFP, although grantors (or potential grantors) or a lender may request one. And it is also good governance to have one done annually. In any case, SJH CPA will be there to help facilitate that your audit is done correctly and efficiently.