Among the many industries that have been negatively affected by the economy, not-for-profit organizations have been the most impacted and financially hard hit. Plummeting donations have forced many not-for-profits to close their doors despite a dramatic rise in the demand for their services resulting from high unemployment and widespread home foreclosures.
Some not-for-profit organizations however are finding much needed relief from their economic woes through GoodAccountants.com, the nation’s fastest growing online accounting service. According to Allie Lee Braswell, Pesident and Chief Executive Officer of the Central Florida Urban League, the greatest challenge facing not-for-profit organizations today is sustainability. “Having the operational dollars to be able to run the organization while targeting the programs that we are called to serve is the biggest challenge we face,” explains Braswell. After losing their finance director his finance committee decided they would outsource their organization’s internal accounting operations to an outside accounting firm and contacted GoodAccountants.com to find a firm for them.
Founded in 1910, the 101 year old organization is the oldest and largest community-based organization of its kind in the country. The National Urban League‘s storied history includes the leadership of such renowned civil rights activist as Whitney Young and Vernon Jordan while its current president, Marc Morial, is the former mayor of New Orleans. But no matter how old or well established a not-for-profit organization may be it still has to watch its bottom line which is why cutting costs while improving administrative control over their finances is so important.
“We specialize in helping some of the nation’s largest as well as smallest not-for-profit organizations cut their accounting and audit costs,” says Johanna Laurent, President of GoodAccountants.com. “By outsourcing their bookkeeping and accounting to one of our member accounting firms that can do the work faster and cheaper we are able to save them tens of thousands of dollars which they can instead use toward community outreach and other administrative services,” explains Laurent. “In some cases we have cut accounting and audit budgets in half and it’s making a huge difference in what these organizations are able to do with the savings,” she adds. “Being able to significantly reduce our accounting and audit costs is extremely helpful to our fiscal well being at a time when not-for-profit organizations are under tremendous economic pressure,” says Braswell. “GoodAccountants.com is one of the best things that could happen for a not-for-profit organization or for any organization for that matter that’s trying to cut their operational costs and improve their financial controls,” explains Braswell.
This article was written by Omar Reed, a freelance business writer and financial analyst