KINGWOOD, Texas, May 27, 2021 /PRNewswire/ -- Today, GrowthForce™ — a leading accounting advisory services provider of advanced bookkeeping, management accounting, controller and CFO support services for nonprofits — announced the launch of its "Nonprofit Challenges in a New World" webinar series. The series teaches nonprofit leaders how better financial management can help nonprofits serve more people, raise more money and ultimately thrive in the post-pandemic world as well as during challenging times in general.
"2020 was a significant disruptor to the norms of how many nonprofits were able to raise money," said GrowthForce CEO Stephen King. "Organizations need to track and analyze what worked and what didn't by using data to make informed decisions."
The five things every nonprofit must determine to realign their organization and get their board thinking strategically include:
- Which outcomes best further the mission
- How to analyze the economics
- Which programs nonprofits should stop, start and continue
- How to revise the plan
- How to raise more money
Running a nonprofit is tough under any circumstances, but it is certainly more difficult during economic uncertainty. Many nonprofits have found it difficult to continue fundraising successfully while remaining sensitive to the struggles everyone is experiencing. According to a 2020 study from the Charities Aid Foundation of America, 73% of organizations worldwide experienced a decline in contributions. In the same study, 91% reported the pandemic had negatively impacted their operations, and one in four expected to shut down completely within the year if the situation did not improve.
"I did not understand that accounting could be a fundraising tool," said Crystal Laramore, Executive Director of Wheelchairs for Warriors. "It has now become one of our biggest fundraising tools, because donors and foundations see that we're putting our money where our mouth is."
King has considerable experience using accounting techniques to help nonprofits meet (and exceed) their goals, including seven years working for Amnesty International USA. There he spent four years as Chief Financial Officer, managing the organization's 300% growth after U2, Bruce Springsteen and Peter Gabriel completed the Human Rights Now! tour. He honed his fundraising skills as its Director of Development, raising more than $20M a year.
King's time at Amnesty reinforced his lifelong commitment to giving back to the community through charitable causes. Since then, he has been a dedicated board member of many nonprofit organizations, helping them with their finances and fundraising.
For additional information, please visit www.growthforce.com.
GrowthForce provides outsourced, cloud-based bookkeeping, management accounting, controller services and CFO support services for nonprofits and small to mid-sized businesses. In addition to reliable and consistent accounting compliance and audit readiness, GrowthForce delivers timely, accurate financials, management reporting and KPI interpretation to help nonprofit organizations make data-driven decisions that help them serve more people and raise more money.
GrowthForce combines the advanced QuickBooks accounting system design with a fractional share of a full-service accounting department, including professional, U.S.-based teams of bookkeepers, accountants and controllers. The GrowthForce Smart Back Office™ framework combines the latest technologies, dedicated teams and efficient processes to become a scalable solution as your organization grows. For more information, visit GrowthForce.com.