Nonprofit membership associations influence the success and economic well-being of our communities today, tomorrow, and into the future. These nonprofit associations exist to serve and unite members that share a professional interest or philanthropic passion. Membership associations go above and beyond traditional “for-profit” professional organizations because their focus is not on earning a profit to improve their individual members or shareholders but they are concerned about the well-being of the entire membership/ group. If their membership includes private interests, then member-driven associations work not only to improve, but to reinforce the future of private-sector businesses as well.
Membership associations are created to solve a common problem for their members, like securing insurance benefits, managing company real estate, and protecting the economic and social welfare of the group. Members benefit from productive training, education, and networking opportunities, but it’s important to understand that every opportunity is powered by a hard-working, dedicated, nonprofit leader. Membership association leaders face overwhelming struggles behind the scenes, including decreasing membership numbers, costly resources, technological advances, declining revenue sources, and increasing competition.
At JFW Accounting Services, we have built our own community of hard-working nonprofit accounting experts to address the financial concerns of membership associations. We understand that membership associations face unique challenges to other organizations, even other charitable organizations, and we’ve made it our mission to equip ourselves with industry knowledge and robust accounting software necessary to support membership associations. Our membership advisors provide structural guidance, nonprofit bookkeeping, and accounting services powered by Sage Intacct, Additionally, we provide nonprofit tax and advisory services, virtual CFO programs, and help with preparing our clients' financial audits. Our team is trained in utilizing the latest technology and industry best practices and we remain informed about changes and trends in the nonprofit sector and Generally Accepted Accounting Principles (GAAP).
• 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.