For decades, the United Way has acted as a giving arm for corporate America across the country to facilitate community building programs and initiatives through local nonprofit organizations. In recent times, this model has shifted; more and more, companies now have their own giving foundations, leaving United Ways to compete for valuable funding to deliver a variety of key services to those who need it most.
This structural shift has pressured United Ways to lead their own programmatic initiatives: organizing fundraisers and development efforts to obtain income. With this comes the need to report on program impact to management, board members, and funders. To accurately report on, communicate, and tell the organization’s financial story, United Ways need the resources, tools, expertise, and ability that a nonprofit financial expert provides.
Relying on simple bookkeeping, or an “accidental bookkeeper” (for example, a program director who is tasked with entering transactions into the accounting system because they are good with math) no longer fulfills the complex accounting needs that nonprofits like United Ways require. Rather, United Ways need a financial controller that can:
- Organize and record all streams of contributed and earned income.
- Allocate expenditures for programmatic and support activities.
- Communicate financial results to board members and funders.
This is where Your Part-Time Controller, LLC (YPTC) comes in. YPTC specializes in complex accounting and functions as an in-house accounting department with the ability to support United Ways as they transition to this new approach to managing their finances. YPTC’s team of experts connect financial and nonfinancial data that will not only inform the right money-making decisions but communicate them effectively to board members.
United Ways across the country partner with Your Part-Time Controller, LLC s to continue their mission and ensure their financial needs have been met. We alleviate the growing pains that come with more complicated accounting, giving United Way leaders the space to focus on what matters.
Ready to get started? Our United Way experts are ready to help. visit yptc.com/united-way-specialization to learn more!