Building Blocks for Building Capacity

Outside Washington, DC, on a quaint street in Old Town Alexandria, Virginia, sit the offices of the National Society of Professional Engineers (NSPE) – an organization dedicated to education, licensure, advocacy, certification, leadership training, and support of its membership. Determining how to best serve stakeholders and accomplish organization mission is a constant in their operational equation, and like most nonprofit organizations, resources are limited. But …

 

NSPE is building capacity and expanding internal effectiveness,
strategic planning, and overall organizational impact.

 

As many will tell you, the responsibilities of today’s nonprofit finance executive often extend beyond the numbers to areas such as operations, information technology, and human resources. Having capacity to address the demand is key. By leveraging the capabilities of Tate & Tryon’s Outsourced Accounting Services, NSPE Director of Finance and Administration, Wendel Stewart has tapped into a resource that not only enables him to build capacity for himself and his finance department but for the organization as a whole.

 

Building Block #1. Expert People

Building Blocks for Building CapacityKey to the accurate and timely handling of financial data for any nonprofit is having experienced nonprofit accountants on board.

Serving as an extension of NSPE staff, Tate & Tryon’s nonprofit experts ensure the flow of timely and meaningful financial information, equipping budget managers and senior executives with critical data for measuring results and making decisions.

Accurate, Timely, Meaningful. MORE Capacity

 

Building Block #2. Efficient and Effective Processes

Identifying and implementing improvements in the processing of information can have a BIG positive impact for any organization.

With Tate & Tryon’s help, NSPE has gone from shuttling paper invoices and issuing physical checks to processing and paying digital invoices in the cloud. The Bill.com cloud-based system utilizes “smart rules” to remember coding for recurring invoices. And, with approvers having access anywhere there’s an internet connection, invoices and payments can be authorized right from their cell phone – while on the go.

Easier, Faster, Convenient. MORE Capacity

 

Building Block #3. Powerful Accounting and Reporting System

The right accounting system and system structure make all the difference in the world when it comes to viewing and reporting financial data.

With Tate & Tryon’s help, consistent accounts and account groupings have been designed across all related NSPE entities. And, the high-functioning cloud-based accounting platform – Sage Intacct has been implemented, bringing new reporting capabilities with dashboards and drillable financial information.

NSPE budget managers and organization leadership now have quick and easy access to financial data in the cloud-based system, enabling streamlined financial oversight and strategic planning.

Consistent, Organized, Transparent. MORE Capacity

 

These Building Blocks allow for more timely and effective communication and collaboration between departments, building capacity within the organization and empowering management for decision-making.

Wendel notes, “With Tate & Tryon, I have trusted accounting professionals in place,
and it gives me the ability to expand my focus to other opportunities for our business
.”

It’s a real privilege to play a role in expanding an organization’s capacity to accomplish its mission. If you’d like assistance building capacity and expanding the impact of your nonprofit, Contact Us to see how we might help.

INSIGHTS & RESOURCES

Understanding the New UBI Tax Silo Rules

Posted on , updated on

Exempt Organization Tax11/30/2018

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Podcasts11/30/2018

In this audio podcast, Tax Principal Debbie Kosnett and Senior Tax Manager Lisa Heller discuss what you need to know about the new unrelated business income silo rules.

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