As a CFO with deep roots in privately held, investor backed companies, I had never worked with non-profits on purpose. It just happened as this or that friend came to me and I knew we could be really helpful. After 4 such experiences this year, I’m realizing VenturePack may be just the right fit for your mid sized non-profit. Unlike traditional outsourced CFO firms, VenturePack’s model is specifically designed to support clients without taking an equity interest.
Non-profits, my CFO heart goes out to you. You have amazing missions that improve lives and community directly and yet you have challenging financial and grant reporting requirements on top of the operational issues that face all companies. Most often I see a bare bones budget when it comes to the finance function and high employee turnover. Further, you would think collecting on pledges would not be worse than in private companies. However, often, receivables are aged and rarely does anyone want to beat on doors for money.
Here are 6 Reasons VenturePack Could be a Great Fit for your Mid Sized Non-Profit:
- Save Money/Drive Value – When you outsource most of the accounting to us, there’s a good chance that for about the same price or less than one full-time accounting person, you are getting an entire CFO managed accounting department, where you pay for exactly what you need, when you need it. You now have increased efficiency, consulting, finance project support, and HR transition support, ready to go.
- Security – Proper checks and balances, approvals, and up to date technology – turnkey.
- Save on office space – You can eliminate the need for extra office space for accounting folks and put the space to better use or save money.
- Board confidence is increased – Board reporting, including budget reporting, is now professional, accurate, and easily communicated in a nice reporting pack.
- No more dollars lost on expensive “clean up” – Your accounting is not behind and any mistakes or issues are addressed every month. You will not need to hire outside professionals to “clean up” errors from 3 staff members ago when we handle your finance and accounting function.
- Collections – We tend to improve collections and cash flow wherever we go, using proven tools and methods we’ve picked up along the way.
Non-profits, at VenturePack, I’ve made it a mission to work with cool and interesting companies. It is very “cool” to us to know we are supporting a positive impact in our communities. I think we could be a great fit.