Case Study about Finance Management
While no-effort had been overlooked to provide outstanding social services, managing the business of the non-profit had been a secondary priority. Over time the organization found it didn’t have enough cash in its accounts to keep up with vendor invoices.
Management believed this was primarily due to slow payments from city, state and federal funders. Finance and accounting staff had to spend a lot of time explaining to vendors why their bills were not being paid and this distracted staff from their primary job. Further complicating matters, the accounting and finance teams didn’t always work well together.
After over 10 years with the same Executive Director, the organization appointed a new leader. The new Executive Director knew the internal operations of this organization were not matching its external commitment to excellence and something had to change. That’s when he reached out to us to learn more about our Chief Financial Officer services. Click here to read more…