The Challenge

The Society for Simulation in Healthcare (SSH) was established in 2004. Their mission; to improve performance and reduce errors in patient care using simulation. SSH serves over 3,200 clinicians, physicians, nurses, researchers, educators, and developers around the world.  Collaboration with staff members in numerous locations was a challenge and providing accurate and timely management reporting was becoming increasingly difficult due to operating in a virtual model.

 

Our Approach

With the help of SSH’s management and Board, Tate & Tryon developed an innovative approach to SSH’s financial management by implementing a cloud-based accounting and accounts payable workflow solution. This system provides online access to financial reports and invoice review and approval from any location.  Post implementation, Tate & Tryon continues to provide ongoing CFO level support to SSH leadership, including financial analysis, budgeting and forecasting, and other support.

 

 

The Results

  • The Board now has greater trust in their internal accounting, while affording them the time to focus on a strategy which is essential to SSH’s continuing growth.
  • IMSH—the annual meeting of SSH—is their single best revenue generator of the year. Tate & Tryon attended the event to assist with registration and finance responsibilities, which contributed to the event’s success.
  • Integrated cloud-based technology allows SSH staff a more efficient internal process. Vendor invoices and expense reports are reviewed and approved from anywhere in an environment with strong internal controls.

 

 

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INSIGHTS & RESOURCES

Tax-Exempt Organizations and 2017 Tax Reform

Posted on , updated on

Uncategorized11/23/2017

Dear Friends in the Tax-Exempt Community:
Below is a brief overview of the key tax reform proposals relating to tax-exempt organizations. As you know, Congress is currently putting together legislation to effect significant tax reform with a timeline of having it enacted this year. Although Congress is still negotiating, the following reform proposals may impact your […]

Royalty Income of Nonprofits is Being Targeted for Taxation!

Posted on , updated on

Uncategorized11/20/2017

The Senate Finance Committee’s version of the Tax Cuts and Jobs Act includes a number of items that would impact nonprofits.
Perhaps the most immediately significant is the provision that would call for taxing the revenue generated from royalties related to licensing a nonprofit’s name and/or logo. Royalty revenue has traditionally been exempt from income taxes. […]

How Could Federal Tax Reform Impact Nonprofits?

Posted on , updated on

Exempt Organization Tax11/17/2017

Uncategorized11/17/2017

By:  Doug Boedeker, CPA, Partner
It has been a challenge staying current on the twists and turns involved with the proposals for Federal Tax Reform. Many of the ideas within the tax reform package have a direct impact on nonprofit organizations.
Charitable deductions, executive compensation, employee fringe benefits, and intermediate sanctions are just some of the “hot […]

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