As nonprofit leaders, we aim to run organizations that thrive, especially in a tough economic climate. In order to thrive, we have to be able to make the right decisions. One area that impacts our ability to make the right decisions is accounting. Rob’s guest is Jason Kruger and he explains that nonprofits who have financial clarity are better able to manage their organizations effectively, and thus make a bigger impact in the world.
Jason is the President and Founder at Signature Analytics. Signature Analytics provides expert-level accounting and business advisory solutions to small and middle-market businesses. They also have an entire team dedicated to serving nonprofits through outsourced accounting and CFO-level business advisory services.
Jason explains it is critical for nonprofits to have confidence in their accounting processes, especially when making decisions for the future. In uncertain economic times, he advises nonprofits to focus on a few areas including annual budgets, cash flow, employee output, debt strategy, and real estate. When it comes to audits, Jason suggests doing no less than one audit per year, and explains why audits are worth the expense. He explains what organizations can do on a monthly basis, to have an easier audit process. Jason describes how Signature Analytics helps their nonprofit clients establish and manage these processes, so accounting becomes streamlined. He believes the biggest factor stopping nonprofit leaders from having a sophisticated accounting process is the cost. He wants leaders to know that most Board of Directors are actually willing to invest in hiring an accounting team. Finally, Jason explains why it’s so important for nonprofit leaders to provide both timely and transparent communication about finances to their donors, team, and board.
Mentioned:
Connect with Jason on LinkedIn
Outsourced Accounting Services for Nonprofits
Jason’s email: jkruger@signatureanalytics.com
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