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Plumb Family Office Accounting Helps Non-Profit Improve Processes & Systems

Nonprofit organization with high staff turn-over and a lapse in overall accounting retention.



A registered 501(c)(3) nonprofit organization with an internal accounting department that was experiencing high staff turn-over and a lapse in overall accounting retention. Annual Revenues: $1-2MM


During the height of tax season, the Client’s CPA recommended Plumb Family Office Accounting & Bill Pay as a resource to fill in the Organization’s accounting/financial needs. The Client hired Plumb with a goal to improve accounting processes and systems in order to attain financial transparency and drive best practices.

The Challenge

Plumb Family Office Accounting & Bill Pay's ongoing engagement includes the following: • Performed year-end close and provided accurate information for the CPA to prepare tax returns. • Collaborated with management and staff in the development of accounting/financial policies, procedures and practices and ensured that internal control activities meet overall objectives and required standards. • Established procedures to ensure functional allocation of expenses and fund accounting are successfully implemented. • Managed cash flow, monitored restricted and/or designated funds and provided cash forecast to help management’s decision making. • Assisted with budgeting and budget-to actual variance analysis. • Integrated donor database with general ledger system eliminating duplicate input and improving efficiency by 40%. • Helped streamline information from the fundraising database into the financial system. • Performed timely recording and managed the operating cycle of donation receipts and accounts payable. • Reviewed tax letters to donors to ensure compliance with rules and regulations. • Prepared and presented periodic financial and budget reports for management and board. • Assisted the marketing department with grant applications and donation proposals. • Researched and resolved tax and accounting issues in accordance with GAAP.

The Solution

The nonprofit division of Plumb Family Office Accounting & Bill Pay continues to be an outsourced accounting/financial solution for the Client. Accomplishments include ongoing timely filing of the tax returns without extensions and cost savings as a direct result of improved productivity. The Organization achieved financial transparency and its executive management gained confidence in terms of compliance, which propels its fundraising objectives forward by widening the list of prospective grantors to approach.

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