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NFP Partners
 3570 E. 12th Ave.   
Denver, CO 80206
303-367-1058
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Webinars
Here is the current  webinar schedule with links to course descriptions and to register. All sessions are one hour in length.

Managing Nonprofit Accounting with Sage MIP Fund Accounting



 
Sage Fundraising Online: Make Stronger Connections With Supporters on the Web



 
Achieve Success With Sage Fundraising 50

 


 
QUICKBOOK WEBINAR SERIES
 
 Getting Started with QuickBooks

 
Thursday, February 3rd at 2:00MST

 
Getting the Most Out of QuickBooks
 
Thursday, February 10th at 2:00MST
Colorado Nonprofit Financial Manager Peer Group
Upcoming Meeting Details
 


 
Here are the details for the next meeting of the Colorado Nonprofit Financial Manager Peer Group:

Thursday, Feb 10, 2011
9:00-11:00 a.m
 Mile High United Way 2505 18th Street
Denver, CO 80211
Topic: TBD

If you have questions, please  contact  Jessica Taylor at Jessica@coloradokids.org, or via phone at 303-839-1580 X 222.
QuickBooks:
Tips and Tricks

Cynthia Wadle, NFP Partners' QuickBooks specialist, has put together a few QuickBooks' Tips and Tricks. This month's tip describes how to merge QB accounts.

 

QuickBooks Tips & Tricks 


January 2011
Why Outsource Accounting?

Last month I asked, Why QuickBooks?" This month, let's discuss why a nonprofit organization should outsource some or all of its accounting and finance functions. 

Just to clarify, we are not suggesting two opposing approaches. An ideal scenario might consist of implementing QuickBooks in-house, while enlisting professional support in the following areas: developing the chart of accounts, creating a framework of internal control, facilitating training for the staff accountant, and supervising monthly reconciliation and financial reporting.

 

Unfortunately, since financial management is not a high priority to many executive directors, nor is it sufficiently enforced by Boards of Directors, nonprofits in the startup- to-mid-growth phase seldom achieve this ideal scenario. While managers don't purposely ignore financial management, the financial stewardship role often pushes them out of their comfort zone, or they are focused on their organization's programs and fundraising activities. NFP Partners' business is based on the belief that nonprofit decision makers understand and accept their responsibilities for financial management and the attendant risks.

 

As it is challenging to find a qualified accountant who possesses the accounting and broader skills necessary to fulfill both higher-level reporting and analysis tasks and day-to-day operations, most small- to mid-size organizations (with operating budgets under $2 million) should seriously consider outsourcing most or some of their finance and accounting functions. It is not a good internal control practice to have  one person is responsible for all financial tasks, including bank deposits, entering transactions, reconciling accounts, and preparing financial reports.

 

NFP Partners offers an outsourcing arrangement that is tailored to its clients' needs. For more mature organizations that already have an accountant on staff, our team provides month-end review, reconciliation, and reporting, as well as controller or CFO special services. This collaborative arrangement can also work well when an internal staff person is not trained as an accountant, but he or she is able to perform administrative tasks, including day-to-day accounting operations. For organizations in early growth stage, we provide a turnkey solution.
 

The cost factor often comes up in our discussions with future clients. We are able to demonstrate that the cost of outsourcing will not exceed the true cost of maintaining an in-house function, and that our efforts will result in enhanced quality of financial information and internal control.

 

Read More About the Benefits of Outsourcing

 

To determine if outsourcing could work for your organization, please visit our website, or feel free to contact me directly at 303-357-1058, or via e-mail at Lee@NFPpartners.com.   

 

If you find value in this newsletter, you can get the articles as they are written and posted by following NFP Partners on Facebook or on Twitter.  

 

Warm Regards,

 
Lee Bengston,CPA 

NFP Partners Supports Local Public Radio Station

KUVONFP Partners is proud to support KUVO, a Colorado community public radio station. NFP Partners does underwriting for "The Takeaway," a national morning news program.  


KUVO, often dubbed the "Oasis in the City," is celebrating its 25th year of broadcasting. One of the few stations in the country to present award-winning jazz programming, it thrives on community service to its diverse audience.  

 

To experience the station, listen to FM 89.3, or stream at www.kuvo.org. "The Takeaway" airs Monday through Friday, between 5:00 - 8:00 a.m. Our underwriting announcements describe NFP Partners' services to the nonprofit community.

Health Care Tax Credit for Small Employers
IRS Mileage RateBeginning with fiscal year 2010, tax credits may be available to tax exempt organizations under the Affordable  Health Care Act.

Tim McCutcheon, CPA, Partner in Charge of Nonprofit Organizations Practice at Anton Collins Mitchell LLP,has developed a white paper that outlines elgibility, how to calculate the credit, and how to claim it.

Review the white paper to determine if your nonprofit qualifies, or to ensure that the relevant information is available and in order prior to the end of your fiscal year.
 
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