Delta Phi Epsilon Sorority
"The money we save can be put into programming...."
With a motto of encouraging women “to be rather than seem to be,” and a mission of developing in women a social consciousness and a commitment to think and act for the greater good, Delta Phi Epsilon Sorority has seen its presence on North American campuses grow dramatically. From its headquarters in Center City Philadelphia, International Executive Director Nicole DeFeo and her staff meet the needs of nearly 54,000 initiated members, including 4,500 students in chapters at 87 colleges.
With this growth has come financial complexity. “We run three corporations under one umbrella, so the bookkeeping gets complicated,” says DeFeo. The sorority itself is a 501c7 fraternal organization. The supporting foundation is a 501c3. And the sorority houses are managed by a 501c2. Each corporation has its own board of trustees with similar missions and strategic planning, but different bookkeeping and reporting needs.
An accountant recommended Your Part-Time Controller to the sorority and DeFeo has been continuously impressed with YPTC associates’ knowledge. “They’re efficient because they’re experts in what they do,” she says. “Your Part-Time Controller is like having a whole little finance department without the overhead.”
DeFeo came to “DPhiE” with an extensive background in nonprofit administration and development and she is enthusiastic about outsourcing the accounting function. “A lot of nonprofits don’t realize what they don’t have. They think they can manage their accounting themselves but when you grow beyond a certain point it becomes difficult. To have someone like YPTC come in and do this work at your site makes it unique. They’re able to do the work as if they were one of your employees.”
She also sees the economic advantage of outsourcing. Rather than having to hire staff to handle accounts payable and receivable, financial management and a controller, she can turn these functions over to YPTC. “And the money we save can be put into programming,” she notes.
YPTC associates have gone above and beyond what was expected. They saved the sorority several thousand dollars by resolving a billing dispute with a vendor. “They also took a look at our processes and found better ways to do things – and it didn’t cost me any more. It was all part of the package.
“You don’t realize the value of good accounting and financial accuracy until you have someone on site doing it,” she says. “Your Part-Time Controller has put good systems into place and I don’t have to worry about it because I know things will get done.”