Faith-based organizations have a responsibility to serve a greater purpose than profit or notoriety. They exist to make a difference in the lives of their communities. Their mission is unique to their purpose, whether they are organized as a local religious charity or a worldwide ministry. Driven by a calling, these organizations spread love, care, and faith into the communities they operate in. But even with the increasingly positive impact on the community, faith-based organizations must still implement the right processes to juggle compliance-related reporting, transparency, and the greater good.
Our clients working in the faith-based nonprofit space have shared their concerns about the common challenges they face, including:
• Managing operations across multiple locations
• Balancing financial planning efforts with growth strategies
• Adopting compliance requirements during periods of rapid expansion
• Outdated software and equipment, due to budget cuts
• Tracking restricted funds from several revenue sources
• Donor documentation requirements
• Consolidating financial data for the entire organization
At JFW Accounting Services, we have advisors on hand that have been trained to work with faith-based nonprofit organizations. We understand the importance of balancing stewardship and efficiency. We appreciate the dedication it takes to manage funding and operations, even when data is delayed and key metrics show room for improvement. Faith-based organizations often face challenges with changing compliance requirements and diversified income streams. It can seem impossible to consolidate transactions from dispersed parishes, schools, and church charities. Luckily, we are equipped to help. Powered by Sage Intacct, we provide our clients with modern, cloud-based software and industry knowledge and experience in faith-based operations.
• Reporting & Attestation: General ledger / Trial Balance, Cash Reconciliation, and Financial Statements
• Business Process Outsourcing: Accounts Payable / Bill Payment, Accounts Receivable / Collections, Cash Management and Reconciliation
• Virtual Controllership: Financial Statements, Comparative Reporting, Budgeting
• Virtual CFO: Financial Strategy, Financial Modeling, Market Analysis
We relish the opportunity to help you leverage your finances to make the biggest possible impact.