Case Study: Local Non-Profit 501c3

Situation:

Management needed assistance replacing a Director of Finance who left to take another position. They needed a budget and a forecast created and maintained. The Executive Director did not have the tools he felt were necessary to guide the organization and be able to make effective decisions.

Challenge:

Bring together information from multiple sources to complete financial records which were left incomplete. Record over 3,000 checks that were previously unrecorded and ensure accounts reconcile. Prepare for annual financial audit within 1st month of engagement.

How Accel Helped:

Accel stepped into the role and made the financial records accurate and ready for audit. Teaming up with management, a financial forecast was developed to clearly identify goals, lay out a plan to achieve those goals, and illustrate milestones that would be passed along the way. A consistent set of weekly dashboards shows the Executive Director the status of the key financial areas while quickly identifying deviations from the budget. Comprehensive monthly reports recap the month, show financial position year to date, and set the stage for the months ahead. The reports show key metrics measured against historical data and an updated forecast for the remainder of the fiscal year which is presented to the board of directors.